Hypothecation Loan

  • Hypothecation cash credit facility is available as a working capital for development of business against prime security of stock and collateral Security. Trading / Manufacturing units, Traders, Business community can avail the credit facility.

Applicant details

  • Last three years balance sheet, copy of income tax return, copy of Partner's personal return , Memorandum and Article of Association in case of limited company, resolution for loan application.
  • Tax bill of Property
  • Three photographs of Applicant
  • Business proof of Applicant
  • Applicant's Pan card / Partner's Pan Card / Limited Company's Pan card
  • Bank account statement of last 2 years
  • Stock statement of the business
  • Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.

Guarantor Details

  • Photograph-two copies
  • Last tax bill
  • Last income tax return copy
  • Address proof /electric bill /telephone bill- land line (any one)
  • Photo proof /Pan card / Voter card / Driving license/Aadhar card (Any one)

Conditions

  • The limit will be decided on the basis of turn over (sales) / projected sales i.e. 20% of turnover (sales) or projected sales against stock 20% margin of stock.
  • Applicant has to provide collateral security to the tune of 80% of the limit by way registered mortgage declaration of residential premises, office, shop, godown, shed etc.
  • Insurance of stock and mortgage property to be taken in favour of bank by the applicant.
  • Original documents such as share certificate, Sale deed, Tax receipt allotment letter are required for registered mortgage of the property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • Applicant has to submit stock statement at the end of quarter and before 10th of the next quarter.
  • The applicant has to provide two guarantors.
  • Limit is subject to renewal after 12 months.
  • Applicant has to take share @ 1.00% of the limit.

Requirement Documents

Valid Photo I.D.(Any One) Address Proof (Any One)
Adhar Card Adhar Card
Pan Card Electricity Bill (not more than 6 months old)
Voter ID Card Municipal Tax Bill
Pass Port Gas Bill  / Telephone Bill :Latest
College / School ID Card Latest LIC Primium Receipt
Government / Semi Government ID Card Other Bank Passbook
  • Passport Size Photograph 2 Copies
  • Birth Certificate for minor account
  • Introduction From Existing account Holder