A package of abundances and value for your food business
The perfect overdraft facility, now with a quick turnaround time.
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit
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Benefits
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Features
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Eligibility Criteria
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Document Required
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Fees & Charges
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Most Important Terms & Conditions (MITC)
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit : Benefits
- New and existing Food and Agro based processing units can avail this facility
- Individual, Proprietorship, Partnership concerns, Private, Public Limited companies and Limited Liability Partnership Concerns are eligible.
- Overdraft facility against Land & Building
- Unified Processing upfront & Documentation fee: Rs. 175/- per lac. ( i.e 50% concession in Processing Charges & Documentation Charges)
- Collection Charges on collection of cheques: 100% waiver of the Collection charges on collection of cheques issued in favour of the Borrower by Food Corporation of India, Cotton Corporation of India.
- Maximum Loan Limit that can be availed under this scheme is Rs 400 Lakhs.
- Margin: 40% of the realizable value of property mortgaged
- Repo Rate and Credit Rating linked ROI
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit : Features
Working capital requirements.
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit : Eligibility Criteria
- All Advances to new/existing (including take over from other banks) Food and Agro based processing units under "Agriculture".
- Individual, Proprietorship, Partnership concerns, private Limited Companies, Public Limited companies and Limited Liability Partnership Concerns.
- lf trading activities are also undertaken by the unit, the ratio of trading sales in total sales should not be more than 49% in a financial year. (Working Capital Limit should be under Sole Banking Arrangement.)
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Quotation/Invoice
- Land Records
- Project Report
- IT Return
- Other Documents as per Bank’s requirement
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit : Fees & Charges
Unified Processing upfront & Documentation fee: Rs. 175/- per lac. ( i.e 50% concession in Processing Charges & Documentation Charges)
Collection Charges on collection of cheques: 100% waiver of the Collection charges on collection of cheques issued in favour of the Borrower by Food corporation of India, Cotton Corporation of India.
Overdraft Scheme for Working Capital Assistance to the Food Agro Processing Unit : Most Important Terms & Conditions (MITC)
| Nature of facility | Overdraft (Against Land & Building). However, sanctioning authority may allow Non-Fund based Working Capital facilities viz, Letter of Credit and Bank Guarantee by earmarking the overdraft limit. | |||||||||||
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| Margin | 40% of the realizable value of property mortgaged. Two valuation for cases where the valuation is more than Rs. 200.00 lacs are to be obtained and the lower valuation to be considered. | |||||||||||
| Period | Period 12 months | |||||||||||
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| Rate of Interest |
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