Saraswat Cooperative Bank Ltd.

Amount:

Max Rs.100 lakh for Professionals, Retail Traders, Small Businessman (Services) and Small Businessman (Manufacturing)

Basis:

Working Capital: 25% of Gross Turnover for manufacturer and 20% for Traders & services
Term Loan:
(1) 6 times of Gross Cash Accruals (Average of last 3 years or latest audited Gross cash accruals) Or
(2) 80% of cost of new asset to be purchased
(1) or (2) whichever is lower

Rate of Interest: w.e.f. 20.06.2025

Based on collateral security coverage
(PLR- 15.60% p.a.)

100% and above – PLR - 7.40%
Below 100% and upto 90% : PLR – 7.25%
Below 90% and upto 75% : PLR – 7.15%
Below 75% and upto 60%: PLR – 6.90%
If the advance is covered under CGTMSE Hybrid: PLR – 6.40%

Repayment:

Max: 10 years

Security:

Primary security:
Mortgage or hypothecation of Fixed Assets and for working capital charge on current assets.

Collateral Security:
Term loan for acquiring office/shop premises – Nil
Term Loan for acquiring other assets and/ or Working Capital limit – Minimum 60% collateral security is required

Shareholding:

Rs.1,000

Processing fees:

0.20% of sanctioned limit

Documentation:

Along with regular KYC,

For loans upto Rs 2 lakh

Self attested financial statements
SETU certificate from SETU office
Bank statement of 2 years

For loans upto Rs 50 lakh

CA certified latest financial statement
ITR of latest year
Bank statement of 2 years for existing customers and for 3 years for new to Bank Customers
Stock statement of 3 months

For loans above Rs 50 lakh

Financial statements certified by CA for minimum last 2 years
ITR with computation of Income for at least last 2 years
Bank statement of 2 years for existing customers and for 3 years for new to Bank Customers
Documents for creating mortgage as per list provided by bank
Self-Declaration for Asset Liability to be obtained duly verified by branch.
Stock statement for last 3 months.