CC loan:- The full form of CC is Case Credit. This loan is for business people. It meets the financial needs of the business. The case is a credit secured loan.
These loans are given by financial institutions and banks for a short period. It does not attract high interest rates. The amount you withdraw from the bank, only that amount of money will attract interest. All business-related needs can be met with Case Credit Loan.
Due to the Corona epidemic, all the traders have suffered a lot in their business. Therefore, taking a case credit loan at this time can prove to be very beneficial for you.
Who can take Case Credit Loan
. Case Credit Loan Businessmen doing business, all companies big and small, company owners, partnerships, etc. can take advantage of Case Credit Loan.
. A case credit loan is a loan taken for business purposes.
. The interest rates of these loans do not decrease with time.
. A case credit loan is a loan for a minimum tenure of one year.
. Before taking this loan, you have to open a new account
Documents Required for Case Credit Loan
. Passport size photograph (any two)
Aadhar Card, PAN Card, Driving License, Voter ID, Light Bill etc. (any one of these).
. Bank statements for the last one year to six months, return files of 2 years, ITR and GST documents etc. (Any of these banks can ask for, some banks ask for all these).
. Certificate of GST Registration, Rent Agreement.
. Details of the business, shop number, in whose name the shop is, since when does the business, for how many years all these information have to be told in the bank.
. Application form for a case credit loan, property papers, electricity bill, business owner proof etc.
. Information about whether there is already a loan or not, information about the existing loan.
Features of Case Credit Loan
. All the traders doing business can take advantage of this in fulfilling the needs related to their business.
. If your credit score is more than 7 then you also get a benefit in interest rate.
. In this, you can also take advantage of the case in lieu of a fixed deposit.
. This loan is a short tenure loan (minimum 12 months).
. This is a secured and short term type of loan.
. In this, the amount of money you withdraw from the bank, interest will also be charged only for that amount.
Case Credit Loan Interest Rates
. In the case of credit loans, the interest rates keep on changing.
. Different banks keep on offering new schemes.
. Interest rates also differ in different banks.
What are the interest rates for which bank’s case credit loan?
bank names Interest Rates
State Bank 10. 5 %
HDFC Bank 11. 4%
Bajaj Financial Bank For details contact Bajaj Financial Bank
ICICI Bank 12%