This product is designed for individual’s business owner and corporate entity.
Objective: To support the individuals and corporate body in completing a contractual project assigned them. LPO must be from blue chip companies only.
FEATURES:
- Opening balance is 5,000 for individual current account and 10,000 for corporate current account
- Evidence of approved LPO document(s)and will be verified
- Interest rate @6% per month reducing balance
- Loan application form fee 2,000
- Credit search fee 2,000
- Upfront Charges is 5% flat
- Tenure is 180 days
- Corporate account in name of the company requesting for such facility is required
- Six month statement of account from other bank is required
- Domiciliation of LPO proceeds
- Loan will be duly guaranteed