► Last three years balance sheet, copy of income tax return, copy of Partner’s personal return, Memorandum and Article of Association in case of limited company, LLP resolution for loan application.
►Tax bill of Property
►Four photographs of Applicant
►Business proof of Applicant
Shop & Established Certificate
• GST Certificate
• Partnership Dead
• In Corporation Certificate
• ROF Certificate
►Applicant’s Pan card / Partner’s Pan Card & Aadhar / Limited Company’s Pan card
►Bank account statement of last 2 years
►Stock statement of the business
►Applicant has to show all original documents to the bank for verification with Xerox copy. Original documents will be returned to applicant after verification.
►Last tax bill
►Last income tax return copy / Pay slip of last 3 Months.
►Address proof – electric bill /telephone bill (any one)
►Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any Two)
►The limit will be decided on the basis of turn over (sales) / projected sales i.e. 20% of turnover (sales) or projected sales against stock 30% margin of stock & Financial Ratio Applied.
►Applicant has to provide collateral security to the tune of 100% of the limit by way registered mortgage declaration of residential premises, office, shop, godown, shed etc.
►Insurance of stock and mortgage property to be taken in favour of bank by the applicant.
►Original documents such as share certificate, Sale deed, Possession Letter & BU Permission, Tax receipt allotment letter are required for registered mortgage of the property.
►Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
►Applicant has to submit stock statement at the end of Month and before 10th of the next Month.
►The applicant has to provide two guarantors.
►Limit is subject to renewal after 12 months.
►Applicant has to take share @ 2.5% of the limit.
|Interest Rate : (Cash Credit Limit)|
|A. Up to Rs.25/- Lakh Limit||8.50%|
|B. Above 25 Lakhs to 1 Crore||8.75%|
|C. Above Rs. 1 Crore and More (Credit Rating Grade)|
|► “AAA” (Above 80 Marks)||8.50%|
|► “AA” (70 To 79 Marks)||8.75%|
|► “A” (60 To 69 Marks)||8.95%|
|► “B” (50 To 59 Marks)||9.50%|
|► “C” (Below 50 Marks No Rating)||10.50%|