Working capital requirement for business development
Purpose : Working capital requirement for business development
Quantum of Finance : Need Based
Margin : 40% on market value of immovable property
Tenure : Sanctioned for a period of one year and the same shall be renewed on annual basis.
Primary Security : Charge on their current assets
Collateral Security : Registered Equitable Mortgage of unencumbered & Title Clear Property or liquid security.
Pre payment : 2% p.a. only on total outstanding amount of all the credit facilities in case of takeover of account by other bank / Financial Institution
Other Condition : Borrower has to execute documents to create our charge on their current assets and have to submit stock & BD statment on yearly basis otherwise additional ROI of 0.50%
Share Linking : 1% of the loan amount sanctioned (Max. Rs. 2,00,000 i.e.8000/-Shares)
