Vyapar Mitra
Small traders and businessmen provide yeoman service to the community. They are honest and hard working and not so educated community with low financial means who need to be supported by banks.
Bank has recognized their potential. They are trusted and trustworthy people.
Bank has devised a hassle free scheme to extend credit facilities to them.
The details of the scheme are as under.
| |
Particulars |
| Purpose |
Small traders/ businessmen |
|
Limit Amount
|
Maximum cash credit of Rs.20 lacs or 60% of valuation of Property or 30%of projected sales looking to last two year growth whichever lower |
| Margin |
40% of valuation of mortgage property |
| Repayment Period |
Renew of limit every year |
| Rate of interest |
13.5% P.A at monthly rest (Subject to change at the discretion of Bank) (not eligible for credit rating rebate) |
| Processing fee |
click to view processing charge. |
| Share linking |
1.Up to Rs.2.00 Crores 2.5% of the amount sanctioned
2. Above Rs.2.00 Crores 1% of the amount sanctioned |
| Guarantee |
Guarantor possessing own property and also Income tax-payer |
| Security |
Mortgage of office/Resident – immovable property |
