|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 :-
Service Charges and Share money will be as applicable.
- 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.
|ROI for first year Click Here,
|For more details, write into us at loans[at]abhyudayabank[dot]net , and Abhyudaya Co-op Bank will get back to you.