Working Capital Finance

For any business to function smoothly sufficient working capital is a necessity. Our working capital facility is designed specifically to cater to your needs of adequate liquidity in the business.

Purpose

  • Cash Credit for working capital requirements
  • Bills Discounting for finance against bills of reputed buyers
  • Non funding limits such as letter of credit and bank guarantee etc
  • Take over of loan from other banks

Who can borrow

  • Anyindividual, Businessman, Commercial Establishments i.e. partnership firms/ pvt. Limited Co./limited cos./any other commercial organization/ registered societies having valid licenses of trading /industrial /service activity.

Loan Amount

  • Maximum for single borrower Rs.2000 lacs
  • Maximum for group borrower Rs. 5000 lacs

Margin

  • 25% margin on net working assets

Repayment

  • One year subject to the renewal of limit

Rate of Interest

  • The rate of interest as decided by the bank from time to time would be applicable.

Security

  • Hypothecation of stock, book debts
  • Mortgage of property and other securities the bank may consider appropriate.

Guarantors

  • Two guarantors whose net-worth is acceptable to the bank.*
  • *Limit up to 5 lac can be sanctioned by taking guarantee of only one guarantor

Processing Charges

  • 0.5% of the loan amount + GST

Share holding

  • 1.5% of the loan amount.

Documents required

  • Photograph , PAN and KYC documents of borrower and guarantor
  • Financial statements of last three years, ITR of last three years, Bank statement of business a/c for last six months.
  • Projected financial statements in case of new business
  • Partnership deed and registration certificate in case of partnership firms, Certificate of incorporation, date of commencement of business and memorandum and article of association in case of companies where applicable
  • Statement of a/c and classification report/ conduct of the a/c from the transferor bank in case of takeover loan
  • Statement of a/c and classification report/ conduct of the a/c from the transferor bank in case of takeover loan
  • Relevant documents related to the property being mortgaged like Title Deed, mutation copy, sanctioned map etc as applicable)
APPLY NOW

To apply for Working Capital Finance, please download the below listed form and submit it to your nearest branch

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