Limits For Business

Limits For Business

Eligibility:
Limits are extended to traders and manufacturers for

 

  • Trading activity - Open Cash Credit (OCC)
  • Manufacturing Activity - Small Scale Cash Credit (SSCC)

Purpose:

  • Business Development.

SECURITY:
Primary:

  • Hypothecation Stocks
  • Assignment of receivables ( Not exceeding 40% of Total Limits Sanctioned at any point of time

Collateral:

  • Mortgage of immovable property/ies (In case the limit is more than Rs. 5 Lacs )
  • Personal Guarantee of One / two persons.

Amount of facility:

  • Depending upon the constitution of the applicant / borrower as per his eligibility.

Margins :

  • Raw Material – 25%
  • Stocks in manufacturing activity – 25% to 40%,
  • Finished Goods - 25% to 30%
  • Stocks in trading activity – 25% to 50%,
  • Book Debts ( Receivables) - 25% to 50%
  • Maximum amount of limit against book debts (Out of total sanctioned limit) – Not exceeding 40% of limit sanctioned at any point of time.

Rate of Interest
Different rates upto 10 lacs and above 10 Lacs.
Validity:
12 months for limits.

 

Basic Savings

Features

No Minimum Balance, No initial deposit to open the account.

No restrictions like Age, Income Criteria for opening BSBD Account.

All provisions of KYC, AML, PML are applicable.

Passbooks are given free.

Maximum of Four withdrawals in a month including ATM withdrawals;

RuPay ATM Cum Debit Card with Accidental Insurance of Rs. 1.00 Lac free

No charges for all the above facilities

PMJDY

PMJDY

The Hon’ble Prime Minister in his Independence Day Speech on 15th August, 2014 announced a comprehensive program of Financial Inclusion targeting the large number of people who are currently deprived of even rudimentary financial services. The PradhanMantri Jan DhanYojana (PMJDY) sets out to provide a basic Bank account to every family who till now had no account.