KVB Pharma Plus

KVB presents a special schematic loan meant exclusively for the members of the Chemists and Druggists Association. This scheme provides financial assistance to provide working capital support to chemists and druggists either in the form of a secured overdraft against property or as an open cash credit facility.

Features and Benefits
  • A secured overdraft against property or an open cash credit loan.
  • Exclusively for members of Chemists and Druggists Association or to submit an introductory letter from the concerned District Association (partnership firms or private limited companies).
  • The loans are provided for working capital requirements.
  • The guarantors for the loans can be partners / directors and personal guarantee of property title holders.
Terms and Conditions
  • The security for the loan has to be fully insured.
  • All the business operations should be routed through the account only.
Interest Rate
  • The applicable Rate of Interest (ROI) is linked to the Credit Score / Rating.
  • For details please refer the section on Interest Rates.
Charges and Limits
SECURED OVER DRAFT( AGAINST PROPERTY ) OPEN CASH CREDIT
Applicant Members of Chemists and Druggists Association or to submit introductory letter from the concerned District Association. Members of Chemists and Druggists Association or to submit introductory letter from the concerned District Association.
Limit Rs. 500 Lakhs Rs. 500 Lakhs
Margin Minimum 40% with security coverage of 166.67%. 25%
Primary Security Mortgage of Non-Agricultural property Hypothecation of stock and Book Debts not older than 60 days.
Collateral Hypothecation of stock and Book Debts age not older than 60 days. Collateral Security coverage of minimum 75%.
Purpose To meet working capital requirements. To meet working capital requirements.
Processing Charges 25% concession in applicable processing charges. 25% concession in applicable processing charges.
Guarantor Firm - All the partners
Pvt. Ltd co - All the Directors apart from a personal guarantee of all title holders.
Firm - All the partners
Pvt. Ltd co - All the Directors apart from a personal guarantee of all title holders.

Other Concessions

Particulars Concessions
Processing Charges for OCC / SOD
  • Fresh Limits - 0.375%
  • Renewal Limits - 0.30%
Insurance on stock
  • SOD - Limit amount
  • OCC - Maximim of stock holding in a year
Folio Charges for SOD / OCC Rs. 0.50/- Per entry
Folio Charges
Current account
MAB < 1 Lakh no relaxation
MAB < 1 Lakh no relaxation
Cheque Book issue charges
SOD / OCC Rs. 2/- per leaf
Current Account holders MAB > 1 Lakh - Free
Outstation Cheque Collection Charges
up to Rs. 2,000/- Rs. 20/-
Rs. 2,001/- - Rs. 10,000/- Rs. 30/-
Rs. 10,001/- - Rs. 20,000/- Rs. 50/-
Rs. 20,001/- - Rs. 1 Lakh Rs. 75/-
Above Rs. 1 Lakh Rs. 150/-
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