Cash Credit Loan & Rate

What would a company do when it plans to meet its working capital needs? The best way is to go for cash credit, which is a loan offered by banks and financial institutions to company or entity. Once the bank gets the required security from the company, it gives the freedom of withdrawing money (as mutually agreed and depending on the capability of the company) and meet its requirements. With cash credit loan, a company can meet its varied requirements inducing buying of raw materials, purchasing of machineries or buildings. This loan account is pretty much similar to the current account but gives more flexibility and more chances of using excess money than the account holds. In a way, cash credit helps businesses a lot as it gives them money when their account does not have any. Cash credit however comes with its share of restrictions as a company can withdraw the money based on its drawing power only. More so, the bank sets the drawing capacity after taking into considerations the business cycle and the working capital gap of the business. The bank also takes into account the stock and book debts statements of the company. Visit to search, compare and select from cash credit loans offered by different banks. Compare interest rates, loan terms, withdrawal limits and repayment terms of cash credit loans offered by some of top banks in India. Visit our portal and find the most suitable cash credit loan to meet your working capital needs without any hassles. My Loan provides customized financial solutions through a single window to meet your day to day working capital requirement. Cash Credit is provided against the Primary Security & Collateral Security both. As far a Primary Security is concern, it is hypothecation of stock, debtors &other current assets and if we talk about collateral security. It is fixed assests, immovable property, corporate and personal guarantee etc. It is generated by way of a running account, drawings power to be regulated with in the permissible drawing limit. Which arrived at on the basis of composition of current assess and current liability, based on the declaration in the stock statement furnished by the borrower to the Bank.

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Cash Loan → Eligibility Criteria

Cash credit loan is easy to get provided your company meets the eligibility criteria set by the bank. The loan is perfect for those companies that want to meet a variety of cash payment needs, including wages etc. Any company can apply for this loan and get it approved if found eligible.

Eligibility criteria for cash credit loan include:

  • The company should be continue for the last 3 years at least.
  • It should be either a proprietorship or partnership or Pvt. Ltd company.
  • The company should be in the same domain for at least 3 years.
  • The company should have operational facility at one place for the last 1 year.
  • The company should be in profit.
  • The company should have a clean credit history.
  • The loan applicant must furnish proof of office or residence.
  • No legal issue should exist with the title to the property.
  • The company should meet the minimum turnover requirement set by the bank, as it varies from bank to bank.
  • Visit to gain more information about cash credit loan.