Traders Loan-Irrespective of loan limit / facility (OD / TL)
- From One year MCLR + Strategy Premium+1.50%
- To One year MCLR+ Strategic Premium+2.50%
Traders Loan to Commission Agents (Arthias)
- One year MCLR + Strategy Premium+2.00%
0.35% of Loan/OD amount without any maximum. Minimum: Rs.7,500/- (Upfront)**
** The above charges considered as if only one property is
Working capital requirements
Development of shop (Purchase of equipment, Computer, Air-Conditioner, Furniture etc.; but not for purchase of shop, for need based requirements subject to a maximum of 25% of the working capital limit sanctioned.
Non-fund based facilities (Letter of Credit & Bank Guarantee)
(Non- fund facility can be considered over and above the Working capital / Term Loan limit, but within the limit assessed based on value of securities and Up to The specified maximum limit under the scheme. - However, if requested non fund based limit cannot be accommodated separately based on projected turnover or Offered securities, the same can be considered as a sub Limit of working capital limit.)
The business units should be profit making (net profit before tax as per last -2- years **audited balance sheet) and should be established in the line of business for a minimum period of -2- years. (**wherever applicable)
For a partnership firm, PBT (Profit before Tax) will be considered after adding Remuneration to partners and interest on partner’s capital.
Trading units established by our existing Current Account or Advance Account Customers with satisfactory dealings for the last -1- year or their close relatives can be Considered, even if these are established for less than -2- years.
Type of facility
Overdraft / Term Loan / Non Fund Facility
- Minimum: Rs.2.00 Lacs
- Maximum: (For all category of borrowers)
- Metro branches : Rs.10.00 Crores
- Urban branches : Rs.5.00 Crores
- Semi Urban branches : Rs.3.00 Crores
- Rural branches : Rs.25 Lacs
Assessment of Working Capital limit
The credit limit is to be considered as under:
20% of the accepted projected Sales; subject to verification of Sales Tax returns of the Previous year’s / quarters. OR Advance Value of collateral assets to be charged, whichever is lower.
Mortgage of Immovable Properties:
Residential Property (House / Flat)
Commercial property (Building / Land & Building)
Plot of Land (not agricultural land)
- 40% on Realizable Value of immovable properties
- 10% on Bank’s own FDRs.
- 15% on the surrender value of Life Insurance Policies and face value of NSCs, Government Bonds etc.
- Term Loan : 120- months
- Overdraft : 12- months; subject to annual review
Unified Processing Charges
The unified processing charges (which includes Processing Charges ,Documentation charges ,Document Verification/ vetting charges ,Pre- Inspection (Contact Point Verification-CPV) charges ,One time post inspection charges ,Advocate charges for legal opinion ,Valuer charges for valuation (One time at the time of sanction) , Bureau report charges , CERSAI charges , ITR Verification charges ) to be levied as detailed below
Legal opinion & Valuation charges
Title of the property proposed to be purchased is to be clear, absolutely unencumbered and marketable to the satisfaction of the Bank’s solicitor/ advocate. Title verification and Valuation of the property will be done by the empanelled advocate/ valuer of the Bank.
In case of limit above Rs.1.00 Crore, 2nd valuation of the property also to be obtained and to be satisfied upon. The lower of the -2- valuations to be considered while calculating the limit.
Like stamp duty for execution of documents, registration charges varying from State to State and other related charges/ expenses for the loan shall be borne by the Borrower.
Credit Information Report
Bank is authorized to make enquiries from any of the Credit Information Bureau and get the Credit Information Reports. Bank is also authorized to disclose from time to time any information relating to the loan to Credit Bureaus approved by Government of India or Reserve Bank of India without any notice to the borrower.