A cash credit loan is a short-term source of finance, having a tenure of up to one year. Under the short-term finance option, Shri Vinayak Sahakari Bank offers its applicant to take a loan up to a certain limit depending on their credit history.

Cash Credit Loan is extended to businesses and companies to fulfill their working capital requirement. This allows the customer, typically a business or company with a proven track record of profit, to withdraw money which is more than the balance available in their accounts. A part of security, Cash Credit is granted against hypothecation of stock and assets such as raw materials, work-in-process, finished goods and stock-in-trade, including stores and spares.

Cash Credit is offered to businesses to finance their working capital requirements. The businesses can buy raw materials, machinery or buildings. The cash credit account is very much similar to the current account. But current account allows overdraft facility occasionally whereas cash credit account is supposed to be overdrawn continuously. The overdrawing limit will be set by the bank and the limit is sanctioned based on the working capital requirement of the company minus the margin.

Required Document :

• Passport (not expired).
• Driving License (not expired)
• Voter's ID Card.
• Aadhaar Card issued by UIDAI
• PAN (Permanent Account Number) Card (along with any of the above documents)



Note :

• Applicant has to take share @2.5% to 5.0% of the limit.
• Processing charges upto 1000/- will be levied on sanction.