Sunday, August 25, 2019
Finance

Karur Vysya Bank- Easy Trade Fin

Purpose of Loan:

Karur Vysya Easy Trade Fin is used for working capital requirements of traders.

Eligibility:

Individuals / Sole proprietor / Partnership firms engaged in trade dealing in auto spares & certain commodities / products.

Quantum of Loan:

Maximum Rs.8 lakhs per borrower [ restricted to 20% of previous year sales].

Rate of Interest:

Upto Rs.25,000 : 12.75 %
Over Rs.25,000 & Upto Rs.2 Lakhs : 13.00 %
Above Rs.2 Lakhs : 14.00 %

Type of Facility:

Overdraft facility is available.

Margin: 

50 % is considered as margin of loan.

Repayment of Loan:

Repayment period of loan is one year.

Security:

Equitable mortgage of urban properties having 200% coverage. (Agriculture land should not be acceptable as security).

For more information: Website

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Karur Vysya Bank- Vartaga Mitra

Purpose of Loan:

Karur Vysya Easy Trade Fin is used for working capital requirements of traders.

Eligibility:

Traders (Individuals / Proprietors / Partnership).

Quantum of Loan:

Maximum loan limit is upto Rs.25 lakhs

Rate of  Interest:

Advances upto Rs.2 lakhs both Term Loan & Working Capital (Both Priority & non-priority):
Upto  & inclusive of Rs.25000/- 12.75 %
Over Rs.25000/- & upto Rs.2.00 lakhs 13.00 %
Term Loans over Rs.2 lakhs & upto Rs.25 lakhs Priority including SME:
Priority : 12.50 %
Non Priority 13.25 %
NBFCs 15.00 %
SRWTO Advances:
upto Rs.25 lakhs- 11.50 % 11.50 %
OCC : Above Rs.2 lakhs and upto Rs.25 lakhs:
Priority: 12.75 %
Non Priority 13.00 %
SOD -  (including Varthaga Mithra ) Above Rs.2 lakhs & upto Rs.25 lakhs:
Priority 13.00 %  
Non Priority 13.50 %

Type of Facility:

SOD(RE)/ Short Term Loan.

Margin:

50 %

Repayment of Loan:

Maximum 36 months for Short Term Loans in monthly installments.

Guarantor:

Partners and Title-holders of the property.

Security:

  • Primary Security : Equitable mortgage of residential / commercial land and building property.
  • Collateral Security : Hypothecation of Stock-in-Trade.

For more information: Website