ADVANCES AGAINST SHARES, DEBENTURES, UNITS OF MUTUAL FUNDS & PUBLIC SECTOR BONDS
PURPOSE: For subscribing to rights/new issue of shares/debentures/bonds or purchase thereof in the secondary market
MARGIN: 50% of current market value or average market value of the last 12 months whichever is less. In case of units of mutual funds, upto Rs.20 lacs or 50% of Net Asset value, whichever is less.
INTEREST: 2.50% Above BPLR i.e.15.75%
SECURITY: Should be of First class or approved joint stock companies and public corporations, in borrower’s name, fully paid up, readily marketable and in marketable lots.
PURPOSE: WHR should evidence storage of Pulses, Oilseeds, Paddy, Wheat, gram etc. (Non-perishable goods)
MARGIN: Demand Loan Min. 25% Cash Credit Min. 30%
SECURITY:
Primary: Pledge of WHR duly endorsed in banks
favour, valuation will be done on the basis of market
price/ government support price or purchase price
whichever is less.
Collateral:
Loan upto Rs.10 lac - Nil
Above Rs.10 lac - Adequate collateral security
REPAYMENT: 3 to 6 months or due date of WHR whichever is earlier
INTEREST:
Demand
Loan:
1. Loans upto Rs. 10 lacs: 1% below BPLR i. 12.25% p.a.
presently
1. Loans above Rs. 10 lacs: 0.75% below BPLR i. 12.50%
p.a. presently
Cash
Credit
0.25% below BPLR i. 13.00% p.a. presently
PURPOSE: - Acquisition of land & building
- Building construction/up gradation and renovation of offices
- Purchase of Equipment, Furniture and Vehicle
- Holding of stock/book debts
- Shoring up of net working capital
- Payment of long term deposits/advances to suppliers
- General trade purposes
MARGIN: 25 %
AMOUNT OF LOAN: 75% of projected expenditure, Minimum 5.00 lacs, Maximum 100.00 lacs
SECURITY: Primary - Hypothecation charge over the Current Assets
Collateral - Equitable mortgage of immovable property, bank deposits etc. to the extant of minimum 35% of limit sanctioned of borrowers with satisfactory track record of 3 years. In other cases a minimum of 50% tangible collateral security should be obtained.
REPAYMENT: 3 to 5 years in monthly/quarterly instalments
PURPOSE: For construction of residential complexes
AMOUNT OF LOAN: Rs. 10.00 crores or 5 times the net owned fund of the builder, whichever is less
INTEREST: As per CRAS rating.
SECURITY: Equitable mortgage of the land on which construction is proposed
PURPOSE: For construction activity
MARGIN: 30% to 40%
AMOUNT OF LOAN: A limit equivalent to 2 months requirements of funds of the total cost of project
INTEREST: As per CRAS rating.
SECURITY: Primary: - Hypothecation of present & future movable assets
REPAYMENT: 12 Months
ELIGIBILITY: All C&I & SSI borrowers engaged in export and domestic operations.
PURPOSE: To overcome problems faced by existing C&I and SSI borrowers of the bank due to factors such as bunching of orders, delays in realisation arising out of contingencies, to mitigate short term ups/down in the business cycle, mismatches in cash flow etc.
AMOUNT OF LOAN: 20% of the Working Capital facilities (Fund based + Non-Fund Based): Maximum Rs.10.00 Crore
PERIOD: Generally for a maximum period of 4 months at any one instance. There will be no restriction as to the number of occasions SLC can be made available in a calendar year.
RATE OF INTEREST: Additional interest rate of 1% over the regular working capital facility will be applicable on FB credit facility under SLC (SLC available on NFB facility shall attract normal rates of commission)
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