KVB Textile Plus

KVB Textile Plus is a specially designed loan to help the entities that deal with Textile trade. The companies that do business with Textile products, Handloom products, Yarn traders, Cotton traders, & Deemed manufacturers (buying cloth and adding value by undertaking embroidery work or printing images or artwork, etc.,) with more than two years of profitable operations can avail this loan.

Features and Benefits
  • Loan issued to meet the working capital requirements.
  • Entities dealing in trading of Textile, Handloom products, yarn traders, cotton traders, & deemed manufacturers (buying cloth and adding value by undertaking embroidery work or printing images or artwork, etc.) with more than two years of profitable operations can avail this loan.
  • Working Capital limits - SOD / OCC.
Charges and Limits
Limit Minimum of Rs. 15 Lakhs & maximum of Rs. 500 Lakhs.
Margin
  • SOD – 40% on Primary Security.
  • OCC – 25% on Stocks and 35% on Book Debts not older than 90 days.
Tenor (months) SOD / OCC – Running account and renewable once in 12 months.
Processing Fees
  • For fresh limits (Existing customers) – 0.375% + GST (25% concession).
  • For renewal of limits – 0.30% + GST (25% concession).
Security
  • Primary Security:
  • SOD – Equitable Mortgage on Land and / or Building other than agriculture property (with security coverage of 166.67%).
    OCC – Hypothecation of entire Current Assets including Stocks and Book Debts.
  • Collateral Security
  • SOD – Hypothecation of entire Current Assets including stock and book debts of the borrowers, both present and future.
  • OCC – Equitable Mortgage on Land and/or Building other than agriculture property. Minimum security coverage shall be 75% as per the scheme.
  • However, the branches and DOs shall endeavor to get 100% collateral security coverage.
Guarantor/s Partners of the firm/ Directors of the Co / Title holders of the immovable property given as security and Husband of Lady Guarantors / Proprietrix / Lady partners.
Interest Rate
  • The applicable Rate of Interest (ROI) is linked to the Credit Score / Rating.
  • For details please refer the section on Interest Rates.
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