APCOB offers CASH CREDIT facility to Traders and Manufacturers against security of urban immovable properties located in CRDA and TUDA regions. The facility can be utilised for the purpose to start, develop/ improve the business, take over from other institutions etc
All business people/traders doing business under sole proprietor concern or partnership firm, societies, companies etc.
The Branch Manager should satisfy himself about repaying capacity / income of the borrower to meet the monthly interest commitment before sanctioning/ recommending.
The income of the Trader, including additional income, generated with the credit facility, should be sufficient to meet the monthly interest of the CC limit and other expenses.
| Interst Rates % | |||
|---|---|---|---|
|
S. No |
Cibil Score |
Rate of Interest |
|
|
i. |
650 to 700 |
12.00 |
|
|
ii. |
701 to 750 |
11.50 |
|
|
iii. |
751 & above |
11.25 |
|
|
iv |
800 & above |
11.00 |
|
Processing charges @ 1% of the loan amount, subject to a minimum of Rs. 10,000/-.
In addition, the fee payable to the panel advocate and valuer will have to be borne by the borrower.
Primary Security: Hypothecation of stock in trade, machinery and assignment of book debts.
Collateral Security: The market value (made by approved valuer) of the immovable urban property offered as security should not be less than 100% of the loan limit sanctioned. CC limits are sanctioned against equitable mortgage of Plots/ Sites/ Houses/ Buildings/lands located in the areas of TUDA and CRDA including Municipalities of Vijayawada, Guntur, Tenali and Mangalagiri.
Collateral Security can also be accepted in the form of our bank Term Deposits, NSCs etc., and also in combination with immovable property.
