Shopin

Cash Credit Limit/Working Capital Term Loan (WCTL) to Retailers (Shopkeepers)

  • CASH CREDIT LIMIT/WORKING CAPITAL TERM LOAN (WCTL)  TO RETAILERS (SHOPKEEPERS)
    without security of immovable properties

    Purpose

    For fulfilling the working capital needs of business.

    Max. Amount

    Minimum Rs. 1.00 lakh and Maximum Rs. 5.00 Lakh

    Eligibility

    The shop should be in the command area of the branch.   Either the shop should be on ownership basis or residential flat/place should be on ownership.

    Rate of Interest

    Priority Sector                                             :  12.50%
    Non-Priority Sector (Other than Builder)       :  13.00%

    Margin

    Stock & Debtors (upto 90 days only)             :     -  25%

    Membership

    Applicant & Sureties of all Cash Credit Limit shall be Regular Members

    Sureties

    One Surety either Salaried or Businessman with Net Take Salary/Income of above Rs. 12,000/- p.m.

    Service Charges

    1.15% of sanctioned limit plus applicable GST.

    Share Linkage

    1% of the amount sanctioned

    Other Charges

    Franking/Stamp Duty on documents,  Assignment charges, CERSAI Charges, CIBIL & ROC charges if applicable, etc.