OPEN CASH CREDIT (OCC):
Cash Credit limits are allowed for Working Capital needs of persons, Proprietary Firms, Partnership Firms, Companies dealing in the following THREE categories:
ASSESSMENT OF LIMIT:
Working Capital Term Loan (Up to Rs.2.00 lakh only):
Where the applicant is not able to operate the a/c regularly, or in case the party wants to pay the loan in instalments the loan can be allowed by way of Working Capital Term Loan repayable in 36 Equated Monthly Installments. The norms mentioned in OCC, for the limits upto Rs.2.00 Lakhs are applicable. But submission of Stock Statements is on Quarterly basis.
Due date: One Year from the date of sanction.