FA, 2020 amendment increasing...
Working Capital Limit
| Bank Name | Interest Rate Range (%) | Processing Fee (%) | Maximum Tenure (Month) | Forclosure Charge | |
|---|---|---|---|---|---|
|
7.50% - 8.50%
|
0.50%
|
12
|
2%
|
|
|
9.00% - 11.00%
|
0.50%
|
12
|
2%
|
|
|
9.35% - 13.85%
|
0.25%
|
12
|
2%
|
|
|
8.50% - 10.50%
|
025%
|
12
|
2%
|
|
|
9.00% - 11.00%
|
0.25%
|
12
|
2%
|
|
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|
8.00% - 10.00%
|
0.25%
|
12
|
2%
|
|
|
8.50% - 10.50%
|
0.20%
|
12
|
2%
|
|
|
8.50% - 10.50%
|
0.50%
|
12
|
2%
|
|
|
8.50% - 10.50%
|
0.50%
|
12
|
2%
|
|
|
8.00% - 9.00%
|
0.50%
|
12
|
2%
|
|
|
9.00% - 12.00%
|
0.50%
|
12
|
2%
|
|
|
9.00% - 10.00%
|
0.50%
|
12
|
2%
|
|
|
7.50% - 8.50%
|
0.50%
|
12
|
2%
|
|
.png)
|
8.00% - 9.50%
|
0.50%
|
12
|
2%
|
|
|
9.00% - 10.00%
|
0.50%
|
12
|
2%
|
|
|
8.75% - 9.50%
|
0.25%
|
12
|
2%
|
|
|
8.45% - 12.00%
|
0.25%
|
12
|
2%
|
|
|
9.00% - 10.50%
|
0.50%
|
12
|
2%
|
|
|
7.50% - 8.50%
|
0.50%
|
12
|
2%
|
|
|
9.00% - 11.00%
|
0.25%
|
12
|
2%
|
|
|
8.50% - 12.50%
|
0.25%
|
12
|
2%
|
|
|
8.50% - 10.00%
|
0.50%
|
12
|
2%
|
|
|
9.00% - 10.50%
|
0.50%
|
12
|
2%
|
|
|
8.45% - 10.75%
|
0.25%
|
12
|
2%
|
|
|
8.70% -10.70%
|
0.25%
|
12
|
2%
|
|
|
9.50% - 11.00%
|
0.50%
|
12
|
2%
|
|
.png)
|
8.80% - 13.80%
|
0.25%
|
12
|
2%
|
|
|
9.00% - 11.00%
|
0.25%
|
12
|
2%
|
|
|
9.50% - 11.00%
|
0.50%
|
12
|
2%
|
|
|
8.00% - 10.00%
|
0.50%
|
12
|
2%
|
|
| Bank Name | Key Features | |
|---|---|---|
|
|
Interest rate
7.50% - 8.50%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 11.00%
Fore closure charge
2% |
|
|
|
Interest rate
9.35% - 13.85%
Fore closure charge
2% |
|
|
|
Interest rate
8.50% - 10.50%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 11.00%
Fore closure charge
2% |
|
|
|
Interest rate
8.00% - 10.00%
Fore closure charge
2% |
|
|
|
Interest rate
8.50% - 10.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.50% - 10.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.50% - 10.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.00% - 9.00%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 12.00%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 10.00%
Fore closure charge
2% |
|
|
|
Interest rate
7.50% - 8.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.00% - 9.50%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 10.00%
Fore closure charge
2% |
|
|
|
Interest rate
8.75% - 9.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.45% - 12.00%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 10.50%
Fore closure charge
2% |
|
|
|
Interest rate
7.50% - 8.50%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 11.00%
Fore closure charge
2% |
|
|
|
Interest rate
8.50% - 12.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.50% - 10.00%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 10.50%
Fore closure charge
2% |
|
|
|
Interest rate
8.45% - 10.75%
Fore closure charge
2% |
|
|
|
Interest rate
8.70% -10.70%
Fore closure charge
2% |
|
|
|
Interest rate
9.50% - 11.00%
Fore closure charge
2% |
|
|
|
Interest rate
8.80% - 13.80%
Fore closure charge
2% |
|
|
|
Interest rate
9.00% - 11.00%
Fore closure charge
2% |
|
|
|
Interest rate
9.50% - 11.00%
Fore closure charge
2% |
|
|
|
Interest rate
8.00% - 10.00%
Fore closure charge
2% |
|
Documents Required
- Individual
- Prop Firm
- Partnership Firm-LLP
- PVT. LTD.
- Photographs 2
- PAN Card Copy
- AADHAR CARD + PASSPORT
- ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
- LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
- LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
- LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
- COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
- PROCESSING FEE CHEQUE IN FAVOUR OF BANK
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
- ADDRESS PROOF – COMPANY AND DIRECTORS.
- . LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM
- ORDER IN HAND AND COMPLETE COPY (if applicable)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
- LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
- PHOTOGRAPH BOTH
- PAN CARD CLEAR COPY PROPRIETOR.
- ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
- OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PHOTOGRAPH PARTNERS
- PAN CARD - COMPANY, ALL PARTNERS
- ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
- FIRM ADD PROOF- LATEST ANY UTILITY BILL.
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST Return last 1 years
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
- Agreement To Sell copy
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- ALL DIRECTORS PHOTOGRAPH
- CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM
- ORDER IN HAND AND COMPLETE COPY (if applicable)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions
What is Borrowing limit?
A cash credit comes with a borrowing limit determined by the drawing power of the borrower. A company can withdraw funds up to the borrowing limit.
What is Interest on running balance?
In contrast with other traditional debt financing methods such as loans, the interest charged is only on the running balance of the cash credit account and not on the borrowing limit.
What is Minimum Commitment charge?
The short-term loan comes with a minimum charge from the loan amount regardless of whether the borrower is able to utilize it. For example, banks typically include a clause that requires the borrower to pay a minimum interest on a predetermined amount or the amount withdrawn, whichever is higher.
What is Credit period?
It is typically given for a maximum period of 12 months, after which the drawing power is re-evaluated.
What is Cash Credit Limit?
A Cash Credit (CC) is a short-term source of financing for a company. In other words, a cash credit is a short term loan extended to a company by a bank. It allows a company to withdraw money from a bank account without keeping a credit balance but is only limited to borrow up to the borrowing limit.
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