Cash Credit Limit to Cooperative Societies for their liquidity and capital
requirements.
Purpose:
To provide cash
credit limit to the affiliated societies for their day-to-day liquidity and
capital requirements
Features:
• Sanctioned as cash credit limit for 01 years
• Limit for capital and liquidity requirements to affiliated cooperative /
marketing cooperative societies in their business.
• Maximum limit up to Rupees 40.00 lakh
• Limit available at zero margin
Advantage:
• Minimal Interest Rate
• Minimal Documents
• Minimal Processing Fee
• No hidden charges
• No Pre-payment penalty
• No guarantors required
Eligibility:
• Affiliated societies of the bank, having good and strong balance sheet as per
the latest audit report.
• NPA of the societies should be below 10%.
• The amount of the applied limit should be within the maximum borrowing power
of the society along with the other loans taken by it.
• Net Disposable Reserves of the balance sheet should be at least 12%.
Rate of Interest:
• Rate 12.00% for regular loanee
• ROI is calculated on daily reducing balance
Charges:
• Minimal Processing Fee
• Other Charges: Document stamp charges as prescribed by the Government
Documents Required:
• Application form duly filled and signed
• Proposal by the board of directors of the society
• Last 03 year audit reports
• Appointment letter of the full time secretary working in the society
• Proposal of the constitution of the board members in the society
• List of board of directors and their KYC
• NOC to conduct business
• Certified stock statement
• KYC of the society and the secretary
*Terms & Conditions apply. For further details, Please contact your Nearest Branch