Welcome to NCUB
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Rules and Regulations / Features
1. Loan can be availed by A class Members only.
2. This loan shall be sanctioned to business men / small retail traders / small business entrepreneurs.
3. The applicant should have an established business concern or he/she should be a government contractor.
4. Loan can be availed against the security of land mortgage / immovable property.
5. The Maximum limit that can be advanced under this scheme will be Rs.1,00,00,000/- (Rs.OneCrore only).
6. Applicant should produce all the related papers of his business concern every year (Audited P&L Account, Balance sheet, Stock Statement, filed Income Tax statement etc).
7. For SSI loans, The loan amount may be advanced up to a maximum of 80% of the total project and 20% margin money should be invested by the borrower primarily.
8. Hypothecation of plant and machinery may be accepted as security.
9. The Loan account can be operated like a running account.
10. Cheque book facility will be made available for operating the loan.
11. Interest will be calculated at daily balance method and debited monthly in the account. If the interest is not remitted in monthly, normal interest should be charged for this interest at the time of remittance.
12. Loanee must be make sufficient transactions as per RBI guidelines in every month.
13. The loan must be renewed every calendar year.
14. 3% overdue interest will be charged in addition of normal rate after the due date.
15. The Bank has a right to file suit under KCS / SARFAESI Act when the loan becomes a Non Performing Asset as per RBI guidelines.
Rules and Regulations / Features
1. Loan can be availed by A class Members only.
2. Loan can be availed against the security of land mortgage / immovable property.
3. Loan can be availed either as a CC loan or as a term loan with EMI facility.
4. The Maximum limit that can be advanced under this scheme will be Rs.25,00,000/- (Rs.Twenty five lakhs only).
5. Loan can be avail only for professionally qualified persons to meet their business infrastructure development.
6. The applicant should produce his certificates to prove his professional qualification and registration form of his business firm.
7. Applicant should produce all the related papers of his business concern every year (P&L Account, Balance sheet, Stock Statement, filed Income Tax statement etc).
8. Interest will be calculated under daily balance / EMI method.
9. Loans should be remitted in Equated monthly instalments or as per cash credit loan rules prescribed by the bank.
10. 3% overdue interest will be charged in addition of normal rate when the instalment becomes due.
The Bank has a right to file suit under KCS / SARFAESI Act when the loan becomes a Non Performing Asset as per RBI guidelines.
Rules and Regulations / Features
1. Loan can be availed by A class Members only.
2. Loan can be availed against the security of land mortgage / immovable property.
3. Interest will be calculated under diminishing method.
4. All the loans should be remitted in monthly/quarterly instalments as decided by the bank.
5. 3% overdue interest will be charged on the overdue instalment in addition to the normal rate whenever an instalment becomes overdue.
6. The Bank has a right to file suit under KCS / SARFAESI Act when the loan becomes a Non Performing Asset as per RBI guidelines.
7. The Maximum limit that can be advanced under this scheme will be fixed for various purpose as under.
|
01 |
Activities allied to agriculture |
200000.00 |
|
02 |
Small Business/ Retail trade. |
10000000.00 |
|
03 |
Self-employment |
500000.00 |
|
04 |
Consumption |
200000.00 |
