Overdraft service for business demands and emergencies.
Purpose
⇒ To meet urgent financial needs
⇒ Business demand/Development
Eligibility
⇒ A Current Account with our Bank or with any other bank which is atleast 6 months old, and is the main operative account
⇒ Your business must be running for at least the last 3 years
⇒ Age below 60 years
Interest Calculation Method- Daily Balance method
Security
⇒ Considering 50% of the total property valuation.
⇒ Collateral Security in the form of Building, Shopping Complex, Plot etc.
Documentation
⇒ I.T.R. – 3Years, Balance Sheet and Profit & Loss Account
⇒ All Original Documents
⇒ Udyam registration Copy
⇒ Proof of ownership of Residential or Commercial Property (including Parental Property) in select locations
⇒ Latest 6 months Bank statement of Business needs to be added.
⇒ Proof of Identity and Residence
⇒ KYC documents to establish identity, DOB and address.
⇒ Tax paid receipts
⇒ Licence Copy
Over Draft against Term Deposits available
⇒ Rate of Interest
⇒ Plus 2% on Term Deposit ROI
