Cash Credit

Applicant details :

  • 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, resolution for loan application.
  • 3 Photographs of Applicant
  • Applicant’s Pan card / Partner’s Pan Card / Limited Company’s Pan card
  • Bank statement of last 2 years
  • Address proof – electric bill /telephone bill (any one)
  • Photo proof – Pan card / Voter card / Driving license (Any one)
  • Applicant has to show all original documents to the bank for verification with Xerox copy.

Guarantor Details :

  • Photograph-two copies
  • Last tax bill
  • Last income tax return copy
  • Address proof – electric bill /telephone bill (any one) As per KYC norms
  • Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norm

Conditions:

  • The development of business, Cash Credit Limits are granted against the Hyp.of (Hyp. Stock/ Book debts) Stock and goods.
  • Such stock should be fully paid. No limits is granted against unpaid stock.
  • The borrowers are required to submit stock/bookdebts statement every month regularly.
  • Applicant will have to take insurance in favour of bank.
  • Applicant is required to submit stock statement creditors list and statement of book-debts on monthly basis and the copy of balance sheet as on 31st march every year.
  • The repayment of overdraft/ cash credit facility is to be granted to the maximum period of 12 months. It can be renewed subject to approval of Bank’s Management.