Objective:

To provide hassle-free credit to our customers based on the assessment of cash flow without insistence on security, purpose or end-use of the credit.

Eligibility:

All our existing customers either with more than 3 years of banking history with the branch/having sizeable deposit or with loan accounts (standard) are eligible.

Nature of facility:

Cash credit in the nature of revolving credit. The GCC holder is entitled to draw cash from the specified branch upto the limit sanctioned.

Limit:

Based on assessment of income & cash flow of the entire household. Total facility for an individual shall not exceed 20% of the eligible production loan limit in case of persons cultivating land and/or 20% of annual income of the applicant from known sources or `25,000/- whichever is less.

Security: No collateral should be insisted.

Insurance: 3rd party insurance for the full value of the machinery

Flexibility in use of credit:

Our borrowers would be eligible for availment of the credit facilities provided under GCC, as per their requirement and eligibility, without any insistence on security and the purpose or end-use of the credit.

Renewal: Account will be reviewed every year and renewed after every 3 yeas

Repayment:

Account will be in the nature of cash credit. The outstanding amount in the GCC should be cleared in full when the applicant is fluid with cash which may be at monthly/quarterly/half yearly/yearly intervals based on the occupation of the applicant/his family. In case the entire amount is not repaid, a minimum of 20% of the amount along with upto date interest debited should at least be repaid.

Documentation: Application, DP Note, DPN delivery letter, Arrangement letter.

Priority Sector lending status: As per RBI guidelines 50% of credit outstanding under GCC upto `25,000/- per account will be treated as Indirect Agriculture financing.

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Source: https://www.sbhyd.com