Central bank of India cc limit

Hello sir I want to know about the cash credit limit of Central bank of India for Cent Sahyog so please provide me information about this.

[Shaleen]

The scheme is available to cover credit facilities to eligible borrowers in MSE sector Manufacturing & Services.

Central bank of India Cash Credit limit for Cent Sahyog

Quantum of Finance
Maximum Rs.100.00 lacs per borrower for MSE sector (Manufacturing & Services).

2. Mode of Assessment

UPTO RS. 10.00 LAKH (INCLUSIVE RS.10 LAKH)

For those borrowers who are not filing income tax returns the income can be assessed on the basis of income and expenditure statement and other financial papers.

Limit assessment to be done as per the annual income generation method i.e., 48 times of monthly income or 4 times of annual income can be considered for sanction of OD/CC limit.

ABOVE RS. 10.00 LAKH

Overdraft/Cash Credit working capital limit is to be assessed as per turnover method, i.e., 20 % of projected annual turnover.

The working capital limit shall be for a period of 12 months and to be renewed/ reviewed annually.

Term loan limit for purchase of plant, equipments & machinery can also be considered on the basis of cash flow subjected to minimum DSCR of 1.5:1.

3. Nature of Finance

1. The facility may be either Overdraft / Cash Credit working capital limit or Term Loan

2. In case of loans up to Rs.10 lacs, Over Draft limits may be allowed without insisting for Stock Statements, particularly for Service Sector.

The Term Loan amount will be repayable in Equated Monthly Instalments subjected to a maximum period of 84 months.

4. Security

5. Insurance

The full value for the hypothecated stock and fixed assets will be insured for fire, riot & where ever required against other appropriate hazards with bank clause.

6. Rate of Interest

BR + 0.50% upto 10.00 lakh (10.25+0.50=11.75%)

BR + 1.00% for more than 10.00 lakh & upto 100.00 lakh (10.25+1.00=11.25%)

7. Processing Charge

Upto Rs.50, 000---Rs.100 per proposal

For more than Rs.50,000 upto Rs.5.00 lacs-----Rs.1000 per proposal

For more than Rs.5.00 lacs & upto Rs.100.00 lacs-----0.5% of the loan amount (maximum Rs.25,000)

Renewal charges @ 0.10% of the loan amount (maximum Rs.15, 000)