Overdraft Against Fixed Assets
The Co-op. Bank of Mehsana Ltd. offers Overdraft Against Fixed Assets facility to help individuals and businesses unlock the value of their immovable properties to meet short-term financial needs. This service is ideal for managing working capital, business expansion, or personal expenses without liquidating assets.
Key Features:
- Loan Type: Overdraft facility against owned fixed assets (like land, building, or other immovable properties)
- Eligible Applicants: Individuals, proprietors, partnership firms, and business entities
- Loan Limit: Based on the valuation of the fixed assets and creditworthiness
- Security: Equitable or registered mortgage of fixed assets
- Interest Rate: Competitive interest rates as per bank norms
- Repayment: Interest to be serviced monthly; principal repayable on demand or renewal
- Tenure: Typically up to 12 months, renewable upon review
Benefits:
- Continued Ownership: Avail funds without selling your fixed assets
- Flexibility: Withdraw funds as and when needed, up to the sanctioned limit
- Quick Processing: Hassle-free documentation and fast approval
- Multiple Uses: Funds can be used for business, education, medical needs, or other personal expenses
Required Documents:
- Proof of ownership and valuation report of fixed assets
- KYC documents of applicant(s)
- Income proof / business financials
- Any other documents as required by the bank
For more details, visit your nearest branch of The Co-op. Bank of Mehsana Ltd or contact customer support.
