Term Loan and Cash Credit Limits

Term loan is available from bank for acquisition of commercial property, purchase of fixed assets and business expansion, including loan against property to business. This loan is useful for professionals, proprietors, partnership firms and private limited companies. Term loan or term finance is a specific amount that has a specified repayment schedule and floating interest rate.  It represents a source of debt finance, which is generally repayable in more than one year but less than 10 years. They are used to finance acquisition of fixed assets & working capital margin. Term loans represent secured borrowing. Usually assets which are financed with the proceeds of the term loan provide the primary security. Other assets of company may serve as collateral security. Term Loan are repayable by EMI or by Equal monthly installments along with interest as and when charged

Working capital facilities are granted for fund-based and non- based basis Fund-based working capital products include cash credit, overdraft, bill discounting, short-term loans, and export financing (per-shipment as well as post-shipment) non-fund based facilities include letters of credit and bank guarantees. Working Capital facilities are provided to finance the day-to-day business requirements. Funding requirements are structured to finance procurement of raw materials/stores and payment towards manufacturing costs and other overheads. Sales are financed against stocks/sundry debtors/receivables.   The Bank offers a combination of operative cash credit and working capital demand loan to meet the domestic working capital requirements of borrowers.

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