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| Cash credit |
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Usage of cash credit I was the happiest man on this earth when I opened my restaurant two months back. But the real thing started to get at me when there was cash crunch. I applied for a loan to many banks, but there was no response. Then I came to know about cash credit... (read more) Review of cash credit Nitish's expanding business needed immediate installation of the new machinery. But the cash credit limit allocated to him was inadequate to meet the demand. Nevertheless, he found a way...(read more) |
| Overdraft |
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Overdraft calculations Apart from the immediate money what makes the overdraft facility a hit with businessmen is its low interest rate. The flexibility allowed by it ensures that a business does not have a high cost in the usage of credit facilities... (read more) Additional charges on overdraft If you have good credit and payment record with a bank, then there are chances that the additional cost involved in the overdraft facility will be waived for you...(read more) Margin on overdraft I decided to pledge my house as a security against the business loan, but I was clueless about what margin the bank would decide upon it. I was pleasantly shocked to find out that the bank had not applied a margin as the overdraft was secured by a residential property...(read more) Interest on overdraft My good relationship with the bank played a decisive role in reducing my overdraft interest rate despite there was a rise in its PLR...(read more) |
| Term Loans |
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Basis for term loan Upon approaching two banks for a business loan, I noticed that the criteria set by them for giving loan were different. Finally, I decided to go with the bank that offered me a concession on the interest rate on the basis of a good performance by my business... (read more) Other facilities My business has seen strong growth the last couple of years. Will this be a deciding factor in the facilities that I receive? Also, I enjoy a long-lasting relationship with my existing bank. Can I leverage this to get a better deal?...(read more) |
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