Overdraft & Cash Credit (OD & CC)

At Shraddha Group, we understand the financial needs of businesses and offer a range of comprehensive financial solutions to support their growth and expansion. Our Overdraft and Cash Credit services are tailored to provide flexible funding options, enabling businesses to manage their cash flow efficiently.

Overdraft Facility: An overdraft facility is a convenient and flexible credit line that allows businesses to withdraw funds up to an approved limit, even when their account balance reaches zero. It acts as a safety net, helping businesses meet their short-term financial requirements and handle unforeseen expenses without any hassle.

Key features of our Overdraft Facility:

Quick Access to Funds: With our overdraft facility, businesses can access funds instantly, ensuring smooth operations during peak times or emergencies.

Pay Interest Only on Utilized Amount: You only pay interest on the amount you withdraw from the overdraft limit, providing cost-effective financing.

Flexible Repayment Options: Repayments are based on your convenience, allowing you to replenish the overdraft amount as and when your cash flow improves.

No Need to Reapply: Once approved, the overdraft facility remains in place, providing a continuous and accessible credit line.

Cash Credit Facility: Our Cash Credit facility is designed to meet the working capital needs of businesses, providing a revolving line of credit that allows borrowers to withdraw funds as needed up to a predetermined credit limit. This service ensures that your business operations run smoothly without any interruptions due to cash flow constraints.

Key features of our Cash Credit Facility:

Revolving Credit Line: Businesses can use the cash credit facility repeatedly as long as they stay within the approved credit limit, making it an ideal solution for managing fluctuating cash flows.

Competitive Interest Rates: We offer competitive interest rates on the amount utilized, ensuring that your financing costs remain manageable.

Easy Repayment Terms: The repayment terms are flexible, allowing businesses to repay the utilized amount when their cash flow permits.

Streamlined Documentation: Our team ensures a smooth and hassle-free documentation process, making access to credit quick and convenient.

Contact us today to explore our Overdraft & Cash Credit services and take your business to new heights with the reliable financial support of Shraddha Group. Let us be your financial partner in success!

1. Business Loan Features:

  • They are an unbound credit.
  • They are any reason advance.
  • They come at an appealing rate of intrigue.
  • They are generally transient credits opposite different advances, (i.e. 3 to 5 years).
  • Business credits can be given to people, Partnership Firms and Companies moreover.

 

2. Business Loan Advantages:

  • Most importantly bit of leeway of a Business credit is that it is any reason advance. Be it be occasions, wedding in the family, to satisfy your levy in Visas, sending your youngster for advanced education, purchasing gems, purchasing a bit of the plot which generally no banks support, and to meet any possibilities. You need not need to outfit the end utilization of a credit to the bank.
  • The advance does not require any security or insurance. It doesn’t require an underwriter either.
  • The documentation included is insignificant.
  • The time taken for advance endorsement is extremely negligible.

The documentation for business advances is one of the least complex. Essential KYC archives and pay records would get the job done to get a Business Loan.

The general rundown for getting a Business Loan are as per the following:

  • Photograph
  • Identity proof
  • Address proof
  • Income proof
  • Bank Statements
  • Continuity Proof
  • Qualification proof (applicable only for Self Employed Professionals)

 

The Detailed Documents Are As Below:

     1. Identity Proof (Any One of The Following)

  • Copy of PAN Card
  • Copy of Passport
  • Copy of Driving Licence
  • Copy of Government ID card
  • Copy of Voter ID card
  • Copy of Company ID Card (for select Corporates)

 

     2. Address Proof (Any One of The Following)

  • Copy of Passport (Can also be used as proof of identity)
  • Copy of Telephone Bill (both landline and post-paid mobile connection)
  • Copy of Driving licence
  • Copy of Voter ID card
  • Copy of Ration card
  • Copy of Electricity bill
  • Copy of bank statement (computerised statements only)
  • Copy of Life Insurance premium receipt
  • Copy of any title deed (Sale deed/ Index II)
  • Copy of Property tax receipt
  • Copy of Leave & License Agreement
  • Copy of latest credit card statement

 

     3. Age Proof (Any One of The Following)

  • Copy of PAN card
  • Copy of Passport
  • Copy of Birth Certificate issued by competent authority

 

     4. Signature Verification Proof (Any of The Following)

  • Copy of PAN Card
  • Copy of Passport
  • Copy of Driving License
  • Signature verification from Bank

 

     5. Income Documents

 

For Self-Employed Individuals:

  • Copy of last two-year IT returns along with computation of income, Balance sheet and Profit & Loss a/c, audited reports (in case of audited financials)
  • CA certified financials (in case of unaudited financials)
  • Bank statements of last six months of the main business banking
  • Business stability proof – Ghumasta Dhara / GST Licence / SSI Certificate / Business licences