Loans under Contactless Lending Platform - Business

Features

• Target Group
• Facilities Available :  Cash Credit and Term Loan
• Quantum of Loan :  Up to Rs.5 crores
• Pricing :Competitive Pricing Linked to EBLR
• Borrower’s Margin / Contribution : Up to 20%
• Repayment Period :
  • Cash Credit : On Demand. To be renewed every year.
  • Term Loan : Maximum up to 10 years.
• Processing Fee/ Upfront Fee : As per Card rates
• Other Charges : As per Bank Guidelines which will be apprised to the borrower before sanction of loans
• Primary Security :
  • Cash Credit: Hypothecation of all Stocks and Receivables
  • Term Loan: Hypothecation of Plant and machinery / other assets or Mortgage of Land / Property, created out of Bank finance.
• Collateral Security : All Loans to be covered under the guarantee cover of CGFMU / CGTMSE/ eligible collateral security. In respect of obtaining Credit Guarantee, Guarantee fees/Premium amount to be borne by the borrower.