Godavari Urban Multistate Credit Co.- Op. Society Ltd; Nanded

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Features of Cash Credit Loan

A Cash Credit (CC) is a short-term source of financing for a company. In other words, a cash credit is a short-term loan. It enables a company to withdraw money from a bank account without keeping a credit balance.

High Financing

2% Penalty charges

ROI 19%

Aspects

High Financing
Loan limit is 60% to 75%of mortgage valuation.
CC loan is renewed every year.
Pre-Payment Penalty : 2% Penalty charges.

ROI & Handling Charges

Rate of Interest is 19%.
HandlingCharges : Half Yearly & yearly handling charges.

Eligibility

Businesspersons.
Self - employed
Professionals having regular source of income
Age : 18 to 55 years

Documentation & Security

In case of new customer, applicant & guarantors need to open savings / current account
Duly filled form with :
- Income Proof of Applicant&Guarantors
- Residential Proof of Applicant & Guarantors
- PAN Card of Applicant & Guarantors
- KYC of Applicant & Guarantors
3 years of ITR
Property documents.
Registration certificate.
Two Acceptable Guarantors.

Share Holdings

Regular Membership fees is Rs. 10 & Share amount @ 10% of loan amount.
Guarantors : as per loan amount.

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GODAVARI URBAN MULTISTATE CREDIT CO-OPERATIVE SOCIETY LTD, NANDED is an autonomous association of people united voluntarily to meet their Mutually Social, Economical, Cultural, Professional and Personal Aspirations.