The following are the terms and conditions of the Scheme.
Sl. No. |
Particulars |
Guidelines |
1. |
Coverage |
The Scheme shall cover general credit needs of existing customers of all Branches. |
2. |
Objectives |
To provide hassle free credit to our bank customers based on the assessment of cash flow without insisting on security, purpose or end use of the credit. |
3. |
Eligible Beneficiaries |
All our customers either with more than 3 years of banking history with the branch / having sizable deposit or with loan accounts which are classifies as standard assets will be eligible for availing loan under the scheme. |
4. |
Nature of financial accommodation – cash withdrawal |
The credit card facility extended under the scheme will be in the nature of revolving credit(cash credit). |
The CGRCC-holder will be entitled to draw cash from the issuing branch of bank only |
||
5. |
Quantum of limit |
Quantum of limit will be based on the assessment of income and cash flow of the entire household |
However, the total credit facility under CGRCC for an individual shall not exceed 20% of the eligible production loan limit in case of persons cultivating land and / or 20% of annual income of the applicant from known sources or Rs.25,000/- whichever is less. |
||
6. |
Security |
No collateral security should be insisted upon |
7. |
Guarantee |
Guarantee from a suitable third party may consider |
8. |
Flexibility in use of credit |
The borrowers would be eligible for availment of the credit facilities provided under CGRCC, as per their requirement |
The branch shall not insist any security and the purpose or end-use of the credit |
||
9. |
Renewal |
Account will be reviewed every year and renewed after 3 years |
Visitors: 266316
© 2018 CGGB. All rights reserved.