Working Capital

The scheme aims at providing financial support for the working capital needs of the small Entrepreneurs. Loans upto 50 Lakh

Eligibility Criteria :

Working Capital loan

• The applicant should be regular member of bank.
• Applicant should have banking relation with our bank.
• The applicant shall be engaged with trading/ industrial/ Service activity with valid Licenses.

Type of facility :

Operative Overdraft facility /Term loan with cheque book.

Security (Prime) :

• In the form of immovable constructed property in Corporation Limits: if outside Corporation limit- TP Plan & Collector NA is required. The property shall be self occupied.
• Any other assignable sucuity such as NSC, LIC, Shares, FDRs etc in support of the above 1.

Security (Collateral):

Stock & Debtors will be collateral security, only initial stock/debtors statement will have to be submitted.

Important points for security :

• The property shall have clear & marketable title & salability.
• Valuation Report of the Panel Valuer to be considered.
• The property shall not be older than 25 years.
• The property will have to be mortgaged with registered mortgage.

Period :

On demand or 5 years; Renewable with necessary documents.

Rate of Interest :

At present @14.50% p.a. Interest rates are subject to change from time to time.