CC Loan

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CC Loan

With our hassle-free consolidation loans, bid your credit card debt farewell and welcome to financial freedom.

This account is the primary method in which Banks lend money against the security of mortgage of immovable properties. It runs like a current account except that the money that can be withdrawn from this account is not restricted to the amount deposited in the account. Instead, the account holder is permitted to withdraw a certain sum called "limit" or "credit facility" in excess of the amount deposited in the account. Cash Credits are, in theory, payable on demand.

CC Loan

Purpose

To meet the credit needs of trade, commercial activity, other general business, real estate as also for their bonafide requirements.

Eligibility

Persons having membership in the Bank, engaged in trade, commerce and business, Professionals, Self-employed, Prop. Firms, partnership firms, individuals with high net worth, salaried people, agriculturists, business establishments etc.

CC Loan

Security

The CC accounts are fully secured advances and sanctioned on the basis of:

Normally, the CC is sanctioned against the security collateral immovable property such as land and building. The sanctioning amount will be limited up to 50% of the valuation of the collaterals.

If the CC is sanctioned on the basis of security of mortgage of immovable properties, the following documents must be produced and retained in the Bank: