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.
- 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.
- The security for the loan has to be fully insured.
- All the business operations should be routed through the account only.
- The applicable Rate of Interest (ROI) is linked to the Credit Score / Rating.
- For details please refer the section on Interest Rates.
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. |
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. |
Note: For processing charges & other charges, contact nearby branches.
Other Concessions
Particulars | Concessions |
Processing Charges for OCC / SOD |
|
Insurance on stock |
|
Transaction Charges for SOD / OCC | Rs. 0.50/- Per entry |
Transaction 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/- |