Easy Trade Fin
If you are a sole proprietor or a partnership firm dealing in auto spare parts and commodities our Easy Trade Fin account can be used to lighten your financial burden. This loan will be given to you based on your actual sales turnover of the previous year
- A secured overdraft against real estate.
- Eligible to Traders (individuals / proprietary concerns or partnership firms)
- Available for working capital requirements.
- The guarantor for the loan can be partners and title holders of the property.
|Charges and Limits|
|Loan Amount||Maximum of Rs.20 Lakhs|
|Margin||40% of the value of security properties offered as described in the Security column. Security coverage shall be 166.67%.|
|SCHEME||ROI (floating) p.a.|
|Easy Trade Fin (Max of Rs.20 Lacs)||One-year MCLR + 2.85%|
|Primary Security||Residential / Commercial land and building property.
If immovable properties are insufficient to cover the required margin, Term Deposits / National Savings Certificates / Life Insurance Policies (all or any of them) will also be accepted to cover the difference amount in full with the following conditions:
1. The instruments should be in the name/s of applicant, proprietor / partner/s of the applicant firm.
2. Surrender value alone to be considered in case of insurance policies.
3. For National Savings Certificates, lock in period (if any) should have been completed and face value will be taken.
4. For Fixed Deposit, Principal amount should be taken and for Term Deposits, Principal plus accumulated interest as on date should be taken.
|Collateral Security||Hypothecation of stock-in-trade.|
|Guarantor||Partners and Title - holders of the property|
|Repayment||The Secured Overdraft shall be for a period of one year, which shall be reassessed and renewed before the expiry of the due date based on the financial / operational performance.|
For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches
- The loan assessment will be based on the actual sales Turnover of the previous year