Tuesday, November 19, 2019
Finance

City Union Bank- CUB Easy Business

Purpose of Loan:

For Working capital / Acquisition of fixed assets.

Eligibility:

  • All trading entities who have regular business.

  • Micro and small enterprises [Manufacturing].

  • The firm should be in business atleast during the last two years and audited financial statements atleast for one year should be available.

  • VAT Registration Certificate/ Fir's Registration Certification should be available.

Quantum of Loan:

  • Minimum Rs. 15 Lakhs

  • Maximum Rs. 75 Lakhs

Repayment of Loan:

  • Ranging from 24 months to 60 months

  • In case of Demand Loan/ Term Loan, actual PBDIT should not be less than 1.10 times of proposed annual EMI.

Security:

  • Primary: Stock and/or Book Debts.

  • Collateral: Non-agri immovable property or any other liquid security having value equivalent to atleast 80% of the sanctioned credit facilities.

Rate of Interest:

In the range of PLR-0.75% to PLR based on the quality of advance.

Processing Fee:

0.20 % of the credit limit subject to minimum of Rs.7500/-. In case of OLCC facility, processing fee is payable every year on due date of renewal.

For more information: Website