Toll Free Number :1800 258 7750 (Available during banking hours - 10:00am to 06:00pm)

Reg. No: SA 2914 Dated : 27 Jan. 1995
License No: UBD Guj-1153 P Dated : 01 July 1995

Cash Credit Loans

Eligibility of borrower   * Having operative current account  holder of the Bank  for more
  than six months 
•    Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
Purpose of Loan  To meet Working capital Requirement
Quantum of finance          * 20% of  annual turnover/ sales of the firm.
* Up to 70% of the value of the stock plus 50%   of  book   debts.
* Current Ratio & Debt Equity Ratio should be at satisfactory level
Share Linkage Borrower must have Bank share Linkage @ 1% of the loan sanction  amount.
Repayment period           Review once in 6 Months and renewal in 12 Months.
Rate of Interest 10.75%  p.a.
Security Prime:
* Stock and book debts should be hypothecated to the  Bank.
* Stock should be stored in R.C.C. built godown own/ rented by   the borrower.
* Letter of access will have to be got duly signed by the  owner.
* Bank's name plate indicating stocks hypothecated to   the Bank  will  have to be displayed on godown where   the stocks stored.
* Godown premises  and Stock hypothecated to the  Bank should  
  be  fully insured against the risk of fire,  theft, burglary, flood,
  riots etc by the borrower at his
*  Own cost and the policy has to be with  Bank clause.
* Borrower has to submit stock statement monthly or as   instructed by the Bank within 7 days of the succeeding  month   otherwise penalty will be levied for delayed   submission.
Collateral:
* Third party guarantee of two personal guarantors  having good  
  Credit worthiness and  financially sound  and member of the   Bank.
* Simple mortgage of title cleared property of the borrower/    guarantors.