Rate of Interest

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

Quantum of Loan

60% Value of Work Order (i.e. in nature of construction, renovation, etc.) subject to Maximum of Rs.1,00,00,000/- (Rupees One Crore Only) and 70% value of Supply Order of Finished Goods/Products having specific unit price of the Supply Order subject to Maximum of Rs.1,00,00,000/- (Rupees One Crore Only).

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.
• A self-attested photocopy of the Work-order/Supply Order.
• Consent by the work/supply order issuing authority that the payment must be routed through Murshidabad District Central Cooperative Bank Ltd., exclusively.
• KYC documents of Applicant/Office Bearers of the BOD/partners of the firm/trustees.
• Loan Agreement
• Irrevocable power of attorney by the applicant/Office Bearers of the BOD/partners of the firm/trustees
• Letter of continuity
• Demand promissory note with revenue stamp.
• Collateral security papers as mention in the security for mortgaging