Extended for one time and are repayable on demand as a bullet payment.
Interest is payable on monthly basis.
Short term in nature generally for a period not exceeding to one year,
Will be provided against the
(i) Primary securities in the form of (a) pledge or hypothecation of the Current Assets / Bank Deposits; and/or (b) against personal or third party guarantees of a reputed customers;
(ii) Collateral security in the form of mortgage or creation of charge on immovable properties.
-- Demand Loan against pledge of Bank’s Own Deposits will be allowed against receipt of Simple Demand Loan Application Form and on Pledging the duly discharged Original Deposit receipt of the Bank.
-- Demand Loan for Commercial Activity on the basis of Pledge / Hypothecation of Stocks, Machinery and any Collateral Security will be assessed as explained under Over Draft Facility on similar terms and conditions.
-- Margin 10% to 25% & Rate of Interest 15% to 25% on case to case basis assessment.
-- Repayment – 3 to 12 months.