High Credit Limit
Credit limit based on the collateral provided, ensuring businesses have access to substantial funds for their operational needs.
Cash Credit
Cash Credit offers businesses a continuous and flexible source of finance, ideal for managing working capital needs efficiently. This facility allows businesses to withdraw funds within a sanctioned limit, providing a dynamic solution to meet cash flow requirements. With the advantage of paying interest only on the utilized amount, it enhances operational efficiency by covering short-term expenses without major disruptions.
Interest rate starts at 8.85%
Features
Renewable Credit Facility
Annual renewal of the credit limit based on assessment, offering continued financial support for business operations.
Collateral-Based Security
Requires collateral as security, which provides a lower interest rate compared to unsecured credit facilities.
AdHoc Limit
Offers online account management tools for easy monitoring and management of the cash credit account.
Advantages of Cash Credit
Continuous Finance
Provides a continuous source of finance up to a certain limit, enabling businesses to manage working capital needs efficiently.
Flexible Withdrawals
Allows for the flexible withdrawal of funds within the sanctioned limit, offering businesses the ability to meet their cash flow requirements.
Interest on Utilized Amount
Interest is charged only on the amount withdrawn and not on the entire sanctioned limit, making it a cost-effective option for businesses.
Operational Efficiency
Enhances operational efficiency by providing immediate funds to cover short-term expenses without disrupting business operations.