Bassein
10.25% p.a **
Who can Borrow
Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company
Purpose
To meet Working Capital requirement
Eligibility
CIBIL score of 700 and above.
Field Verification mandatory and Branch Manager.
Banking with BCCB for a minimum period of 1 year.
Limit
Max Limit= Rs. 25.00 lacs
Security
Stock statement = Stock + book debt. [Availability of Drawing Power]
RD of 1% of the sanction limit under lien or Assignment of LIC Policy for loan amount sanction.
Margin
NIL
Rate of Interest
11.50%
Processing Fees
As per service charge circular
Basic Documents
KYC documents of the Firm, Co /proprietor/partners/ directors, also in their personal capacity.
ITR along with Audited financial statements for last 3 years of the Borrower Firm/Co as well as Proprietor/Partners/Directors for the last 3 years, along with business account statement for the last 2 years.
Surrender value statement of LIC policies to be assigned /NSCs.
Renewal
Yearly
To meet the temporary liquidity mismatch arising due to COVID 19 Pandemic.
Existing borrowers already enjoying Working Capital limits with our bank.
Validity of scheme
Scheme will be in force upto 31.03.2022
Borrower can avail loan of Maximum upto Rs.150.00 Lacs as follows :
For borrowers having total exposure upto Rs. 3.00 crores - 10% of total exposure
For borrowers having total exposure above Rs. 3.00 crores - 10% of total exposure OR Rs. 150.00 lacs, whichever is lower.
[The said facility will be considered as fund based exposure. All the RBI guidelines on Prudential norms shall be applicable.]
Extension of Banks charge on the Primary as well as Collateral Security :
Hypothecation of Paid Stock/Book debts
(Residual Drawing power after providing for existing working capital limits)
OR
Hypothecation of Plant and Machinery
(Residual WDV value after providing for existing limits)
Stamp Undertaking/Mortgage of immovable property.
9.50 % p.a [Fixed].
Moratorium
Principle moratorium for first 12 months. Interest charged to be serviced regularly during moratorium.
Repayment
24 months (12 EMIs).
Principle moratorium for first 12 months. Interest charged to be serviced regularly during moratorium. Thereafter repayment in 12 EMI’s
Prepayment charges
Not Applicable
Documents other than basic documents
Sales /Purchase for the last financial year ended 31.03.2020.
Audited Financials for the financial year ended on 31.03.2019 along with ITR.
GST paid challans for the last financial year [atleast upto January’2020].
ITR along Financials of the partners/directors for the financial year ended on 31.03.2019.
Request letter on firms letter head for the loan to be availed mentioning the specific requirement of the loan requested for [ e.g. Salary payments/administrative cost etc].
Provisional financial statement (If can be provided).