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.
Terms and Conditions
- The loan amount is limited to a maximum of Rs. 50 lakhs
- The development of business, Cash Credit Limits are granted against the Hypothecation of (Hyp. Stock/ Book debts) Stock and goods.
- Such stock should be fully paid. No limit is granted against unpaid stock.
- The borrowers are required to submit stock/book-debts 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.
