Overdraft Facility In ING Vysya Bank

Hello sir, I am Salim Merchant. I am from Mumbai. I want you to help me by giving me some information about the overdraft facility in ING Vysya bank. Can you help me?

[Pathak]

As you have asked about the overdraft facility in ING Vysya bank, I am giving you some information about it, check below for the details

Cash credit / Overdraft facilities:
Cash credit facilities are the most common form of working capital financing.
A line of credit is provided up to a pre-established amount based on the borrower's projected level of inventories, receivables and cash deficits.
Cash credit / Overdraft facilities are running account facilities where the borrower may remit and draw funds freely.
The facility is generally granted for a period of up to 12 months, with a review after that period.

Some other Financial Facilities:
Commercial paper:
A commercial paper is an unsecured, short-term corporate paper in the nature of a usance promissory note with fixed maturities and is negotiable by endorsement and delivery.
Under current guidelines, commercial paper can be issued for a minimum tenor of 15 days and a maximum tenor of 365 days.
Commercial papers are generally issued by highly rated borrowers and since they are tradable, they offer us a liquid investment opportunity.


Short-term loans:
Short-term loans are demand loans with a maturity of three to six months provided to corporate borrowers to meet their temporary cash flow mismatches or to avail interest rate arbitrage.
They can be denominated in either rupee or foreign currency and can be disbursed as fixed rate loans or floating rate loans.
Short-term loans are usually provided to highly rated corporate and can be unsecured.