| Objective | To meet the working capital needs of the business traders, petty business traders and self employed. |
|---|---|
| Maximum Loan | 25,00,000/- . Limit will be assessed based on the last three years sales turnover as reported in the State Govt sales tax assessment orders & projections for the next two years |
| Eligibility Criteria | 1. Wholesale/Retail Trader/Businessmen having a certificate of Registration under the TS General Sales Tax. Applicant can be a sole Proprietor or a partnership concern |
| Repayment Period | 1 year [ to be renewed every year] |
| Documents Required | 1. Duly filled in prescribed Application Form[along with 3Photos] 2. Original Documents of the Site /Agrl. land 3. Pass Book &Title Deed in case of Agrl. land 4. Link Documents for the past 13 years 5. E.C. showing the entries for the past 23years 6. Approved Bldg Plan by the concerned Authorities along with proceedings 7. House Site/Agrl. land CARD Valuation by SRA 8. Valuation of the Building by the Bank Engineer to be offered as Security. 9. Latest Property & Water Tax Receipt in original 10. Identity Proof [Aadhar Card, Passport, VoterID, Driving License, PAN Card etc.,] 11. Residence Proof [Aadhar Card, Voter Card, Ration Card etc.,] 12. G-Tree Certificate issued by Concerned Authorities 13. A copy of Registration Certificate issued by Registrar of Firms 14. A copy of lease deed for the current period if the shop is in the rented building 15. Registration Certificates issued by the TSGST [Copy] 16. Any other certificates of Registrations/Permissions[ Copy] 17. Income Tax Assessment with Audited Financial Statements for last 3 years if any 18. Sole Proprietary Declaration/Partnership deed [Copy] 19. Latest Balance Sheet & P/L Account as certified by the Chartered Accountants 20. Broad classification of stocks that are proposed to be hypothecated or pledged Stock verification Report of the Branch Manager in the format |
| ROI | 1. 9.60% p.a. 2. Outstanding in the un renewed cash credit will be considered as overdue and penal interest @ 2% shall be charged on such amount till renewal/closure of the account Note: Interest Rates may be revised from time to time by ALCO |