Information

Hypothecation cash credit facility is available as a working capital for development of business against prime security of stock and collateral Security. Trading / Manufacturing units, Traders, Business community can avail the credit facility.

Applicant details:

• AADHAR CARD and PAN Card Compulsory
• Last three years balance sheet, copy of income tax return.
• Three photographs of Applicant
• Tax bill of Property
• Business proof / Bank Statement copy of Applicant
• Applicant’s Pan card / Partner’s Pan Card / Limited Company’s Pan card
• Address proof – electric bill /telephone bill (any one) as per KYC norms
• Photo proof – Pan card / Voter card / Driving license (Any one) as per KYC norms
• Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.

Guarantor Details:

• AADHAR CARD and PAN Card Compulsory
• Photograph-one copies
• Last tax bill
• Last income tax return copy / Pay slip of last 3 Months.
• Address proof – electric bill /telephone bill (any one)
• Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)

Conditions:

• Insurance of stock and mortgage property to be taken in favour of bank by the applicant.
• Original documents such as share certificate, Sale deed, Tax receipt allotment letter are required for registered mortgage of the property.
• Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
• Applicant has to submit stock statement at the end of quarter and before 10th of the next quarter.
• The applicant has to provide two guarantors.
• The applicant must be a member of bank
• Limit is subject to renewal after 12 months.