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Working Capital Loans
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Working Capital Loans

Working Capital Loans  |   Loan against warehouse receipt
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Working Capital Loans
ICICI Bank's Rural and Inclusive Banking Group (RIBG) offers Overdraft and Cash Credit facility to traders, processors, transporters, aggregators etc. in the Agri-sector. This group also caters the needs of the customer through term loan facilities for enhancement of existing capacity / expansion of working units / Construction of Warehouses etc.
Products offering Working Capital Loans are:
• Smart Cash Credit (SCC).
• Agri Credit Line (ACL).
• Jet Overdraft.
• Micro Enterprise Credit (MEC).
• Agri Development Loan (ADL).
• Warehouse Construction Loan.
Smart Cash Credit (SCC): SCC is a financial assistance to large agri and rural enterprises for the working capital needs of the businesses with hypothecation of stock & debtors and supported by property as collateral security. Smart CC has a range of products like Cash Credit, Letter of Credit, Bank Guarantee, Term Loans, Export Packing Credit (EPC) etc.
Features:
• Limit: Minimum Rs. 25 lakhs, maximum Rs. 20 crores.
• Product range: Cash Credit, Term Loan, Letter of Credit, Bank Guarantee, Export Packing Credit (EPC) etc.
• Tenure: Cash Credit for 12 months, Term loan for 5 years for purchase of plant,machinery & equipments, Term loan for 7 years for project cost including land & building, Letter of Credit/ Bank Guarantee for 12 months.
• Security: Charge on current assets i.e. stocks and debtors supported with commercial / residential / Industrial property.
• Repayment: For Cash credit, the interest on the outstanding loan amount is payable monthly, term loan is repaid as per fixed EMIs.
• Repayment Mode: Through regular transactions in the account.
• Renewal of the account depends on maintenance of good track record and submission of fresh financial documents.

Agri Credit Line (ACL): Agri Credit Line is the financial assistance to rural enterprises in the form of overdraft based on property & income. The borrower can avail OD facility upto 5 crores and the interest will be charged only on the utilised amount.
Features:
• Limit: Minimum Rs. 10 lakhs, maximum Rs. 5 crores.
• Tenure: The overdraft term is 12 months and is renewable.
• Security: Residential / commercial / industrial land or property.
• Repayment: For overdrafts, the interest on the outstanding loan amount is payable monthly.
• Through regular transactions in the account.
• Renewal of the OD account depends on maintenance of good track record and submission of fresh financial documents.

Jet Overdraft
Faster and quicker overdraft facility for business needs based on income, secured with property.
Features:
• Limit - Minimum Rs. 10 lakhs to Maximum Rs. 1.0 Crore.
• Faster and quicker.
• Security: Facility against Residential Property / Commercial Property / Industrial property.
• Interest charged only on amount used.

Micro Enterprise Credit
Overdraft facility for business needs based on Transaction in Current Account, secured with property.
Features:
• Limit - Minimum Rs. 1 lakhs to Maximum Rs. 50 lakhs based on the predefined score card.
• Faster and quicker.
• Security: Facility against Residential Property / Commercial Property / Industrial property.
• Interest charged only on amount used.

Agri Development Loan
Overdraft facility to individual / Propritorship firms for cultivation / harvesting of agri commodities.
Features:
• Limit - Minimum Rs. 1 lakhs to Maximum Rs. 25 lakhs.
• Security: Facility against Residential Property / Commercial Property.
• Interest charged only on amount used.

Maximum Rate of Interest ( Fund Based Facility): I-BASE + 12% plus applicable interest tax or other statutory levy.

Maximum Rate of Interest ( Non- Fund Based Facility) : Commission : 2% per annum. Final applicable rate is decided by ICICI Bank based on various other parameters as per the policy of ICICI Bank and will be communicated to the customer upon sanction of loan, subjected to minimum of I-BASE.

Processing Fee: A non-refundable processing fee upto 2% (plus applicable service taxes) on the loan sanctioned by ICICI Bank shall be payable by the customer. The applicable processing fee that will become payable at the time of sanction/every disbursement, will be communicated to customer on sanction of the loan application by ICICI Bank.

Front End Fee: Front End Fee up to 1% (Plus applicable service taxes) of facility(ies) / loan(s) amount applied for 75% of the total Front End Fee would be refunded (without any interest) in the event of rejection of the facility (ies) / loan Application by ICICI Bank.

Default Charges: ROI +6% for any financial or non financial irregularities as per sanction terms & conditions.

Prepayment Charges: Prepayment charges of 2% of the sanctioned facility (ies) / loan amount or the rate as may be specified by ICICI Bank from time to time.

Other Charges: Other charges including but not limited to statutory charges, such as stamp duty on documentation etc., as applicable, are payable on actual basis and any other charges as communicated to the customer from time to time by ICICI Bank.