You are eligible if:
· You are a commodity trader, stockist or dealer registered under sales tax.
· You are a permanent resident of the city.
Loan Amount:
· Minimum- Rs. 2.50 lakhs
· Upto- Rs. 25 lakhs
· Upto 20 % of your projected turnover.
In case of disruption of the working capital cycle, 40 % of collateral security can be included to calculate Drawing Power.
Nature of Loan:
Cash Credit (hypothecation)
Margin:
25% stock, 50% of book debts.
Rate of Interest:
INTEREST CHARGED ON DAILY REDUCING BALANCE
NO PREPAYMENT CHARGES
Security:
*
Hypothecation of stock and book debts.
*
Equitable mortgage of immovable property or any other liquid assets with market value of 100% sanctioned limit as collateral.
Process Fees:
1% of the sanctioned loan amount.
Repayment:
Revolving limit to be operated as per DP/ Sanctioned Limit.
This information of loan is gathered from the bank's web site.
Photo courtesy: Dena Bank.
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