Description:
An innovative working capital assistance in the form of an Overdraft Facility, featuring a fast-track digital process and minimal documentation.
Key Features:
- Overdraft facility for working capital needs.
- Paperless, in-principle offer letter upon completing the digital journey.
- No need for monthly/quarterly statements (e.g., Stock/Book Debt/QIS).
- Low processing fees: 0.25% at sanction and 0.10% per annum during review/renewal.
- Option to select a banking platform from partner banks (IDBI, CUB, Yes Bank).
- Attractive MCLR-linked interest rates.
- Assistance up to ₹3 Crore.
Eligibility:
- Existing entities with at least 3 years of operation.
- Entities not availing working capital/overdraft facilities from other banks/financial institutions.
- No history of defaults with banks or financial institutions.