Bank offers Bills Discounting facility to its customers to meet their short term working capital requirement. Bills drawn on reputed corporates are eligible for funding.
** "Conditions Apply. Loan at sole discretion of the Bank."
Repayment:
Self liquidating
Margin :
Min 10%
Maximum Loan Amount Limit : Rs 13.75 Crore subject to Bank's Exposure Norm
Minimum Loan Amount Limit :
Need Based
Eligibility :
Individuals, Proprietorship, Partnership, Pvt. Ltd. and Public Ltd. Companies, LLP
Security - Prime
Accepted bills of exchange/hundis (Bills accepted of reputed Ltd. companies with good repute backed by Post Dated Cheques on case to case basis).
Security - Collateral :
Only if found essential
Subscription to Bank's Share - Membership:
2.5 % of Loan amount (Max Rs 5.00 Lac per entity)
Processing fee :
0.70 % of Loan amount on First occasion and 0.35% at the time of renewal (excluding service tax)
Guarantors
Two Guarantors acceptable to Bank.
As Applicable.
In adherence with RBI Notification no. DoR.MCS.REC.28/01.01.001/2023-24 dated 18/08/2023,
Penal charges for delay in payment of interest/ instalment , non-compliance or delay in compliance of critical terms of sanction and takeover of loan by other bank/
NBFC would attract penal charges @ 3.25% on the sanction amount in case of Working Capital limit and on the outstanding amount in case of term loan limit.
