About Cash Credit Loan

The main object of this loan is to provide working capital loan to Individual Customers, Primary Engineers, Labour, Weavers, Agriculture/ Marketing/ Consumers Co-operative Societies.

Eligibility

All societies should be duly registered by the competent authority who are members of the Bank.
Self- employed/ businessman last three years income tax return filed by the applicant and in case of LIC Agents etc. Form 16A showing the commission/ interest received by the applicant during the year is to be obtained. An acceptable valid document to justify the stated income has to be submitted by the applicant.

Rate of Interest

Such rate as may be Notified from time to time by the Bank.

Quantum of Loan

Up to 40,00,000/- Only for Members Society of The Bank.

10,00 000/- (ten lakh) In case of individual Customers.

Documentations

Loan application in prescribed format: duly filled up by a single person’s handwriting in blue or black ink. Not to use any white ink for correction or rectification in the application.
KYC documents of Applicant/Office Bearers of the BOD/partners of the firm/trustees Loan Agreement
Registered Power of Attorney in Bank’s prescribed format.
Hypothecation of goods in Bank’s prescribed format (if necessary).
Demand Promissory Note in Bank’s prescribed format.
Letter of Acceptance in Bank’s prescribed format.
Letter of Continuity in Bank’s prescribed format.

CASH CREDIT

11.25 %