- Civil Contractors engaged in execution of infrastructure projects. Should have working capital loan account with us.
- Due date shall coincide with the regular Working Capital Account.
- As per KBL MSME scheme guidelines.
- 10% cash margin
- As applicable to KBL MSME Scheme. If the client is financed outside KBL MSME scheme, the rate of interest charged to regular working capital overdraft account will be adopted.
- Upfront charges will be collected (wherever applicable) towards legal, valuation, BIR etc.
- For issue of FDRs in lieu of Bank Guarantee.
- Will be assessed as per the client’s requirements.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
Frequently Asked Questions (FAQs) for Overdraft Security Deposit
What is Overdraft Security Deposit?
Scheme is for issue of FDRs in lieu of Bank Guarantee for civil contractors engaged in execution of infrastructure projects.
Who is eligible for availing Overdraft Security Deposit?
Civil contractors engaged in execution of infrastructure projects. Applicants should be our existing client having working capital OD limit with us with satisfactory transactions.
Is overdraft account is compulsory for availing this facility?
Yes, the applicant should be our existing client having working capital OD limit with satisfactory dealing with us.
Is stock statement necessary for this loan?
Is FDR is issued in our own name or beneficiary name?
The FD will be issued in the name of the beneficiary on account of applicant.