Target Group
Traders both wholesalers & retailers of goods and commodities which are not prohibited by Govt/RBI. Borrowers may be individual/ sole proprietorship/ partnership firms/ HUF/ Joint stock companies.

Purpose

Eligibility

Traders having registration / license as applicable under local laws (i.e. shops & establishments act). The registration / license may be as under:
i) Sales Tax Registration
ii) Drug License for Retail Trade of Drugs/Medicines (where ever applicable).
iii)Trade license
iv)Ration & Civil supplies etc.

The proponent should preferably be engaged in the line of business for at least 1 (one) year.
New units can also be considered in deserving cases.
In such cases, reasonable projected sales should be estimated depending on the merchandise area, market, potential, capacity of the borrower etc.

Loan Limit
As per Bank norms, the limit can vary from case to case.

Types of Facility
CC Limit Facility for working capital and Term Loan for purchase/ development of shop/ showroom.

Guarantors
Two

Security
In addition to the Hypothecation of Stocks and other assets created out of the bank loan, the loan will also be secured by tangible security (security in shape of FDR NSC/KVP LIC SV etc) and by mortgage of immovable property – Value of Mortgaged property as assessed by Valuer & Bank Officials.

(For Terms & Conditions Pl. contact nearest Branch Manager)

Processing Fees
0.5% of total loan amount.

Period
Working Capital : One year

Repayment
Working Capital : On demand.

Term loan
Equated Monthly Installment.

Repayment Fees
0.5% of the outstanding balance in case of takeover.

Other Service Charges
Please refer to Service Charge.