share it!! use it!!!! Cash Credit Limit Features This Loan given to meet working capital requirements of the company on the basis on company turnover, company financials, value of stock having by company. This loan given against collateral security ie: Residence, Industrial or Commercial Property. A limit is given in current account where the client can withdraw amount upto the limit sanctioned. Key Features of Cash Credit Limit :- Limits start from Rs. 10.00 lacs & above. The loans are generally approved within 15 working days of submission of complete documentation. The interest charged only on the utilized amount. It will charged basics on the end of the day (closing) balance. No minimum Monthly repayment required This loan can be used business purpose only. Eligibility Proprietorship/partnership/Pvt. Ltd company Age 25-65 years of main applicant Minimum 3 years old company in the same business Minimum 1year old operation at same place Profitable business for the last 2 year Have a clean track record of at least 12 month from any MNC bank Applicant must own office or residence. Title to the property should be clear and free from encumbrance, i.e., without any pending legal litigation adversely affecting the ownership of the property. Turnover minimum 40 lacs & above per annum for the last 2 years. Documents Photograph of main applicants ID proof : Pan card/ Passport/c Driving License Signature Proof : Pan card/ Passport/Driving License Age Proof : Pan card/ Passport/Driving License/DOB Certificate Residence Proof : Passport/ Voter Card/Driving License/Ration Card/ Telephone Bill/ Electricity Bill. Office Proof : Telephone Bill/ Sales Tax registration certificate/ Electricity Bill Ownership Proof : Electricity Bill/house tax/property papers Income Proof : last 3 years audited financial along with audit report with all schedules. Bank statement : main account last 6 month. Sanction letter of existing Cash credit or overdraft limit availed by the company. Collateral Security : Property papers which are offered. Constitution proof : MOA/ partnership deed Others : any Govt. registration like service tax, sales Tax, excise, Loan Proof : Repayment Schedule of all running loans
Posted on: Thu, 05 Sep 2013 13:31:10 +0000
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