V Secured Overdraft

Scope of the scheme
To meet the working capital & capex needs of not exceeding Rs.100.00 lakhs in respect of the following broad category of activities

  1. Business Enterprises
  2. Small Service Enterprises (SSE)
  3. Small Manufacturing Enterprises (SME)
  4. Contractors
  5. Distributors
  6. Stockists
  7. Commission Agents
  8. Service Providers
  9. Hospitals, Nursing Homes, Poly Clinics
  10. Hotels & Restaurants
  11. Educational Institutions – Schools & Colleges
  12. Service Enterprises of professionals such as Doctors, Lawyers, Engineers, Consultancy Firms
  13. Advertising Agencies
  14. Transport Operators

Quantum of Finance

  1. Working Capital (WC) component - Not exceeding Rs.100.00 lakh.
  2. Term Loan (TL) component - maximum of 25% of above viz. Rs 25.00 lakhs – within the overall outer limit of Rs.100.00 lakhs.
  3. Working Capital Demand Loan (WCDL) – Not exceeding Rs.100.00 lakh.

Rate of Interest
Base Rate + 3.00% = 12.65% p.a. (floating)


Penal interest at 2% shall be charged over & above the regular interest rate on the excess drawings, arrears, & overdue component covering the actual number of days, during which such features persisted.

Processing Charges

  • Working Capital limit
    • Processing Charges will be levied as follows in respect of borrowers above the cut of level.

       Loan Amount  Other than individuals Individuals outside Rural
      Area  
      Individuals in Rural area 
      Rs.0.25 lakh to
      Rs.2.00 lakh
       0.50% p.a. 0.25% p.a.
      Min.Rs.250.00
      0.14% p.a.
      Min.Rs.100.00
      Over Rs.2.00 lakh
      to Rs.100.00 lakh
       0.25% p.a. 0.15% p.a. 0.14% p.a.
      Max.Rs.9000.00  

    • Apart from the above, all other relevant applicable charges such as annual inspection & folio charges as per HOC 80/09 & 134/09 as modified from time to time shall be collected.
    • At the time of annual review 50% of the applicable processing charges as above shall be collected. However, at the time of renewal normal PC shall be levied.
  • WCDL/Term Loan
    Upfront charges @0.50% plus applicable service tax shall be collected upfront for both WCDL portion and Term Loans.

Note: Applicable Service Tax to be collected separately.

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