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  Home » Loan Schemes » Non Agricultural Loans » OCC/SOD



     

OPEN CASH CREDIT (OCC)         

Cash  Credit limits are allowed for Working Capital needs of persons, Proprietary  Firms, Partnership Firms, Companies dealing in the following THREE categories:                

  • Manufacturing             
  • Trading             
  • Service Oriented and Contract Works.        

ASSESSMENT OF LIMIT:                     

  • Limits  up to Rs.2.00 Crores will be assessed based on the Turnover Method.             
  • Limits  above Rs.2.00 Crores will be assessed based on Inventory Method.         

Working Capital Term  Loan (Up to Rs.2.00 lakh only):
Where  the applicant is not able to operate the a/c regularly, or in case the party  wants to pay the loan in instalments the loan can be allowed by way of Working  Capital Term Loan repayable in 36 Equated Monthly Installments. The norms  mentioned in OCC, for the limits upto Rs.2.00 Lakhs are applicable. But  submission of Stock Statements is on Quarterly basis.               

  • For  the limits exceeding Rs.10.00 lakhs or Annual Turnover/Sales exceeds Rs.40.00  lakhs, applicants should audit their books of accounts.            

Due date:  One Year from the date of sanction.


           

 

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