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loan against ware house reciept

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    Loan Against Ware House Receipt

    Cash Credit
    Demand Loan may also be considered to all

    MPBF Calculation

    In case of Cash Credit:- 75% of value of WHR and 65% in case of demand loan.

    Service Charges

    For Priority Sector Advances

    • Upto ₹5lac :NIL
    • >₹5lac upto ₹10lac :₹300 per lac or part thereof.
    • >10lac upto ₹1crore :₹150per lac subject to minimum of ₹1750.
    • >₹1 crore :₹150per lac subject to minimum of ₹1750 & maximum of ₹12.5lac.

    For Non Priority Sector Advances

    • Up to ₹ 25000 : NIL
    • >₹ 25000 up to ₹ 2lac : ₹400.
    • >₹ 2lac up to ₹ 10lac :₹300 per lac or part thereof.
    • >₹10 lac Up to ₹ 1Crore :Rs300 per lac subject to minimum of Rs3500
    • >₹ 1 Crore :₹300 per lac subject to minimum of ₹35000 & maximum of ₹25.00 lacs

    Nil up to 30.04.17 for both PS & NPS advances.

    Documentation Charges
    • Upto ₹50.00lac -NIL.
    • Over ₹50.00lac to ₹100.00lac - ₹15000/-
    • Over ₹100.00lac -₹20000/- Nil up to 30.04.17 for both PS & NPS advances.
    Scheme/Facility wise terms & conditions
    • Facility against perishable commodities shall not be considered.
    • Branches shall ensure genuineness of the Warehouse receipts negotiable warehouse receipts (NWR) before considering advance against it.
    • Advance shall be granted against original warehouse receipts negotiable warehouse receipts (NWR) only. No advance shall be allowed against storage receipt issued by private warehouses (other than approved Collateral Manager).
    • Specimen signature of authorized signatory of the Warehouse Keeper's shall be obtained and kept on record.
    • A notice shall be issued to the Warehouse regarding bank's lien on the goods stored as per the specific Warehouse receipt and after receiving confirmation that our bank's lien has been got noted before disbursement of the loan. Acknowledgement shall be kept on record.
    • Certificate of quality issued by the graders/ samplers/ classifiers/ warehouse Keepers shall be obtained and kept on record.
    • Goods shall be inspected at periodic intervals to ensure upkeep of its quality.
    • Extra caution should be taken about genuineness of Warehouse Receipts/negotiable warehouse receipts (NWR). Each Warehouse Receipt must be verified from the warehouse authorized signatory besides verification of goods stored by the bank official.
      In case of farmers, the facility shall be routed through OGC account. Wherever farmer is not availing OGC facility from branch, efforts shall be made to issue OGC before consideration of the advance against Warehouse Receipt. It shall however be ensured that the farmer deals with the bank exclusively.
    • Facility should not be utilized for any purpose other than the purpose for which it is availed or for investment in capital markets or for speculative purposes.
    • Bank has the right to modify any of the terms & conditions pertaining to the credit facility at any time.
    • Borrower should inform the Bank whenever any event happens which prejudicially affect the interest of the Bank/weaken the financial position of the firm.
    • The firm should furnish to the Bank every year financial statements at the time of renewal of credit facility by the Bank.
    • The valuation of the commodity will be done as per the Minimum Support Price (if announced for the commodity) or the market price or value mentioned in the warehouse receipt, whichever is lower.
    Finacle Scheme Code

    AG-44 AG-50 for eligible account of small & marginal farmers for intt. Subvention.

    Collateral Manager Fees

    Fees shall be paid from out of “Comission Paid (Misc.)”

  • Security and Margin
    Primary Security

    Pledge of warehouse receipt

    Coll. Security / Security Coverage

    No collateral security in case of warehouse receipt issued by Central / State warehouse and warehouse receipts issued by the Bank’s empanelled Collateral Manager.

    Margin

    In case of Cash Credit : 25% margin In case of Demand Loan : Minimum 35% for all commodities or as prescribed by collateral Manager whichever is higher.

  • Rate of Interest and Repayment
    ROI
    • Priority Sector Advances Negotiable Warehouse Receipts MCLR , subject to net earnings should not below MCLR Non Negotiable Warehouse Receipts MCLR+1.00%, subject to net earnings should not below MCLR
    • Non-priority Sector Advances MCLR+2.00% subject to net earnings should not below MCLR+1.00%.
    Repayment Period/ Term
    • In case of Cash Credit :- 12 months
    • In case of Demand Loan: - Maximum Six months
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