Central Bank of India- CENT Trade

Eligibility: 

All types of Traders including Retailers / Distributors / Commission Agents / Arthiyas.

Quantum of Loan:

Maximum Rs.50.00 lakhs per borrower.

Mode of Assessment:

Limit to be assessed as per Turnover Method, i.e. 20% of projected annual sales. The limit shall be for a period of 12 months and renewed / reviewed annually.

Security:

Equitable Mortgage of non-encumbered residential house / flat, commercial or industrial property in the name and possession of the borrower (including joint owners) i.e. self-occupied or vacant. The property should be of value not less than 200% of the limit. The property in the name of spouse / relative may also be accepted as security making them either co-borrower or guarantor; and / or Liquid security in the form of - NSC / Govt. Bonds (excluding shares) - to the extent of 133% of loan amount. Time Deposit of Bank / Surrender Value of LIP - to the extent of 112% of loan amount.

Rate of Interest:

Interest rate for CENT Trade is BPLR - 1%.

Processing Fee:

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Central Bank of India- Cent Vyapari

Eligibility:

All types of Traders including Retailers and Distributors.

Quantum of Loan:

Cash Credit against paid Stock and Receivable upto 90 days and up to a maximum of Rs.20.00 Lakhs per borrower.

Rate of Interest:

Interest rate for CENT Vyapari is BPLR - 1%.

Processing Fee:

Rs.10,000/- lump sum.

Margin:

• A minimum margin of 25% on stocks and 50% on Receivables (upto 90 days) should be maintained. 

• For limits up to Rs. 5.00 lakh margin of 25% should be kept on the combined value of stock and sundry debtors less sundry creditors. No Drawing Power is allowed on Receivables beyond 90 days.

Security:

• Primary: Hypothecation of stocks and book debts wherever book debts are taken in to account for arriving at drawing power.

• Collateral: EM of land and building value of which is at least equal to limit sanctioned in case of limit/loan up to Rs.10 lakh and at least 133% of sanctioned limits in case of limit / loan above Rs.10 lakh.

Repayment:

Repayable on demand - to be reviewed / renewed every year.

Inspection Charge:

Rs.1000/- per Inspection for any loan amount.

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