A Cash Credit Loan is a type of short-term working capital loan that allows businesses to withdraw funds from a pre-approved limit as and when needed. It's a revolving credit facility, meaning you can withdraw funds multiple times within the sanctioned limit.
- Application and Approval: You apply to a bank or financial institution and provide necessary documents like financial statements, income tax returns, and business projections.
- Credit Limit Sanction: Based on your creditworthiness and business performance, the lender sanctions a credit limit.
- Fund Withdrawal: You can withdraw funds from the sanctioned limit as and when required.
- Interest Calculation: Interest is charged only on the amount withdrawn, not on the entire sanctioned limit.
- Repayment: You can repay the loan in installments or through a revolving credit facility, where you pay interest on the outstanding balance.
Key Features of Cash Credit Loans:-
- Flexibility: Withdraw funds as needed up to the sanctioned limit.
- Quick Disbursal: Funds can be disbursed quickly once approved.
- Interest on Utilized Amount: You pay interest only on the amount withdrawn.
- Collateral Security: Often requires collateral, such as property or inventory.
- Revolving Credit Facility: You can continuously withdraw and repay funds within the limit.
* INTEREST RATES *
| THE HASTI CO-OP.BANK LTD. | ||||||
| Sr. No. | Type of Loan | Base Rate | Offset In Rate | Applicable Rate | Rebate | Net Rate |
| 1 | A) Cash Credit Clean Loan | 13.95% | 0.00% | 13.95% | 1.00% | 12.95% |
| B) Cash Credit Secured (Non Priority Purpose) | 17.00% | 4.50% | 12.50% | 1.00% | 11.50% | |
| C) Cash Credit Secured - | 17.00% | 5.75% | 11.25% | 1.00% | 10.25% | |
| Priority Purpose for Commission Agents, Trader's, Wholesalers who is trading in Agri.produce goods & having APMC License MSME Registered. | ||||||
| D) Cash Credit Secured Loan – | 17.00% | 4.50% | 12.50% | 1.00% | 11.50% | |
| Commercial Construction for own Business like Hotel, Lodging, Shops, Mall, Furniture Fixture, Schools, Project Loans (Other than manufacturing) | ||||||
| E) CC for Professionals – | 17.00% | 5.50% | 11.50% | 1.00% | 10.50% | |
| Doctor's Engineer, Architect & CA's etc. for day to day revenue / capex expenses | ||||||
| F) CC for Professionals – | 17.00% | 8.50% | 9.00% | 0.00% | 9.00% | |
| Doctor's Engineer, Architect & CA's etc. for day to day revenue / capex expenses (Without Mortgage). Rs. 0.50 upto 5.00 Lac. | ||||||
| G) CC Against Property | 13.75% | 1.80% | 11.95% | 1% | 10.95% | |
| Prime Security of Immovable Property. | ||||||
| 2 | Hypothication Loan | |||||
| Non Priority - | 12.95% | 0.00% | 12.95% | 1.00% | 11.95% | |
| I-Wine Shop & Other Purpose | ||||||
| II-Petrol Pumps | 12.95% | 1.45% | 11.50% | 1.00% | 10.50% | |
| Priority Purpose - | 12.95% | 1.95% | 11.00% | 1.00% | 10.00% | |
| Agri.and Allied Business APMC License Holder's, Traders' Whole Salers Oil Mills, Chilly Powder, Ginning Pressing, Oil Mills, Food Grains Sorting, Polishers, Packing Units.etc. (MSME) | ||||||
| Non Priority (General) - | 12.95% | 1.45% | 11.50% | 1.00% | 10.50% | |
| For Shopkeeper's like General Stationeries, Cloths, Garments, Medical, Hardware, Shoes etc. | ||||||
| 3 | Loans Working Capital for Industrial Purpose Loan | |||||
| I- General Industries - | 12.50% | 0.55% | 11.95% | 1% | 10.95% | |
| Without Udyam ADHAR Or SSI/Non Priority Purpose Registered. | ||||||
| II- Industries Purpose - | 12.50% | 1.55% | 10.95% | 1% | 9.95% | |
| Priority Purpose, with Udyam ADHAR, SSI Registered, MSME. | ||||||
| 4 | Cash Credit for Builder Developer & Other CRE Builders for Residential/ Commercial | 17.00% | 3.50% | 13.50% | 1% | 12.50% |
* Types of Cash Credit Loans *
1. Clean Cash Credit Loan
2. Cash Credit Secured
3. CC for Professionals
4. C.C. against Property
5. Loan Against Hypothecation
6. Industry Loan
7. Cash Credit for Builder Developer & Other CRE Builder for Residential/Commercial.
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Documents Required For Cash Credit Secured Loan ☞ Click Here
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Documents Required For Cash Credit Secured (Contractual) Loan ☞ Click Here
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Documents Required For Hypothecation Loan ☞ Click Here
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Documents Required For Industry Loan ☞ Click Here
DICGC Assurance
The Hasti Co-Op Bank Ltd. is registered with DICGC.
Secured Assets possessed Under the SARFAESI Act 2002
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