KAL Traders Cash Credit facility

Name of the scheme KAL Traders Cash Credit facility for Traders engaged in Agro based commodities.
Purpose of the scheme This scheme is introduced to cater special requirement of Traders who have wide experience of trading in agro based commodities.
Eligibility Criteria Agro based Trading units having existence of minimum period of 2 years and their unit is profit making. All existing as well as new Agro based Trading units whose credit requirement is Rs.100.00 lacs and above can opt for this scheme. Traders, who are willing to undertake to utilise minimum 50% of sanctioned limit, will be eligible for this scheme.
Nature of Facility Secured CC facility This is a special Cash Credit facility in which finance is made available against Market Value of immovable property.
Quantum of Finance Minimum : Rs. 100.00 lacs Maximum: As per exposure norms of the bank.
Margin Margin : 30% of Market Value of immovable property. Advance : 70 % of Market Value of immovable property
Rate of Interest 9.25% to 10.00% based on Credit Rating module
Processing fees As applicable to Cash Credit facility.
Securities Prime Security : Immovable property Collateral security : Stocks & Book debts Borrower has to execute composite documents of Hypothecation of Stock and Book debts in favour of our bank. Bank will have charge on Stock and Book debts of the firm / company.
Period of Finance 12 Months. (to be reviewed every year)
Special Remarks Under the scheme, borrower is exempted from submission of Stock & Book debts statement on monthly basis. However, they are required to submit Stock & Book debt statement annually. The borrowers in whose accounts serious and adverse irregularities in the Stock audit or Inspection report are observed and such irregularities are pending / not complied and /or unfair practices viz. incorrect data submission, misinterpretation, hiding facts etc. observed will not be eligible for benefit of this special scheme. If utiisation of the limit is less than 50% of the sanctioned limit, interest benefit of this scheme will be withdrawn and borrower will be charged at regular interest rate applicable for normal Secured CC facility, with retrospective effect.
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