KJSB Logo
  Home   : :   Cash Credit/ Overdraft Loan

Cash Credit/ Overdraft Loan

Enjoy the benefits of flexible interest rates as per your credit rating to take care of financial needs of your business. You may utilize the loan amount to run your business operations smoothly and meet all financial hurdles during the year.

Purpose :
  • Finance for Working capital requirements
Eligibility :
  • Entrepreneurs, manufacturers, traders, businessmen, professionals engaged in any manufacturing activity, trade or providing any services to general public through their firm (proprietorship / partnership / LLP), public / private ltd company.
Quantum:
  • As per borrower’s requirement and within bank’s exposure as per RBI guidelines
Tenure :
  • Subject to annual review, repayable on demand
Basic Documents :
  • In case of new customer, applicant & guarantors need to open savings / current account
  • Duly filled & signed loan application form
  • Duly signed loan agreement
  • KYC documentation as per RBI guidelines, including proof of identity & address proof of applicant & guarantors with 3 passport sized photographs
  • Copy of updated passbook / bank statement for last one year
  • Details of existing on-going loan availed from banks / financial institution
  • Copy of Bank deposits / Life Insurance Policies / Other Investments (if any)
  • Details of present loan / other liabilities (Statement of Loan a/c, Loan Sanction letter).
  • Application / Request for Credit facility / ies.
  • Financial statement along with I.T. Returns filed for last three years (C.A. Certified Balance Sheets) and Audited financials (If applicable).
  • Copy of Partnership registration certificate along with copy of partnership Deed in case of partnership firm.
  • Copy of GST registration certificate.
  • Commencement / Incorporation certificate in case of Pvt. ltd or Ltd. Company.
  • Copy of MSME registration certificate, if applicable
Other Documents :
  • For Immoveable property: (Principal security for CDOD and Collateral for Cash Credit Limit)
    • Chain of all previous title documents (Agreements of Sale and Registration Receipts).
    • Share Certificate in case of Co-op. Hsg. Society.
    • Latest receipt for Maintenance Charges and Property Tax payment.
    • NOC and No Dues Certificate from Co-op. Hsg. Society.
    • NOC for creation of mortgage in Bank’s favour from the Co-op. Hsg. Society.
  • Other Documents / Information :
    • Details of project of applicant.
    • Brief about business Activity along with all applicable licenses.
    • Details of Stock with List of Debtors and Creditors, monthly Sales, purchase statement.
    • Summary of profitability and cash flow statement with projections as per loan Tenure.
    • Copy of GST return for last financial year.
ROI :
  • Please click here to know about latest ROI & Service Charges.
Other Conditions :
  • Applicant has to be a regular shareholder of the bank. The guarantors have to be either a regular member (shareholder) or a nominal member (in case of loan amount up to ₹ one lakh) of bank.
  • Standing Instruction (SI) Request / ECS or NACH instructions / Post Dated Cheques (PDC) to be submitted to the bank as per requirement.
  • Search report and title clearance report for the property to be obtained from bank’s panel advocate. Professional fees / charges for the same to be borne by the applicant, even if the loan proposal is not sanctioned by the bank.
  • Valuation of the property is to be carried out by bank’s panel valuer. Professional fees / charges for the same to be borne by the applicant even if the loan proposal is not sanctioned by the bank.
  • Insurance premium for mortgaged property for the full tenure of the loan to be borne by the applicant.
  • All conditions stipulated in the advocate’s title clearance report are to be fulfilled before consideration of the loan proposal.
  • Inspection of the property / site will be carried out by bank officials. Applicant has to make necessary arrangements for this.
  • Formalities regarding recording bank’s charge on the property by the builder / co-operative housing society and transfer of share certificate in the name of the applicant / borrower by the co-operative housing society, are to be completed as early as possible. The applicant / borrower has to ensure and take active responsibilities for this.
  • Before disbursement, applicant has to provide margin money and necessary amount to meet all the expenses (as mentioned above). Adequate amount for the purpose is to be deposited in the bank account in advance.