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Sunday, 24-Jun-2018  12:20:09 PM
Revolving Credit limits (RCL)
  • We provide Revolving Credit Limits (RCL) to any Manufacturing/Industrial/Engineering Units/Civil contractors/ Govt. Contractor etc. against the Work Orders. The party will be sanctioned a certain limit depending on its activity and capacity to execute the orders as also the work orders on hand / expected.

Key points :-

  • The amount of individual loan will be, decided taking into consideration Order value , Profit margin, Contribution of Borrower, Advance payment, if any to be received.
  • Limit will be sanctioned to the Borrower. The Documentation shall be done for the full limit of RCL.
  • No separate documentation is required for each disbursal under RCL.
  • The request on the letter head of the Borrower along with copies of the order or contract shall be submitted to the Bank.
  • Rate of interest is applicable rate to the CC account of the Borrower.
  • As and when a contract or order is received by the Borrower, he will approach the Bank for release of the Loan under RCL.
  • Margin will be 25% of the orders
  • The period over which the execution is expected normally shall not exceed 36 months.
  • Collateral security required as per Banks prescribed norms.

Service Charges and Share money will be as applicable.

ROI for first year Click Here,
For more details, write into us at loans@abhyudayabank.net , and Abhyudaya Co-op Bank will get back to you.
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