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Cash Credit/Overdraft Facilities
Cash Credit/Overdraft Facilities
Cash Credit and Overdraft Facilities offer businesses the convenience of accessing funds whenever they need them, ensuring that working capital requirements are always met. These flexible credit options provide a revolving credit line that businesses can draw upon, offering peace of mind and financial liquidity.
Cash Credit/Overdraft Facilities
Cash Credit and Overdraft Facilities offer businesses the convenience of accessing funds whenever they need them, ensuring that working capital requirements are always met. These flexible credit options provide a revolving credit line that businesses can draw upon, offering peace of mind and financial liquidity.
Key Points:
1
Revolving Credit
Businesses can withdraw funds up to a pre-approved limit, repay, and reuse the credit multiple times.
2
Interest on Utilized Amount
Interest is charged only on the amount of credit used, not on the entire sanctioned limit.
3
Enhanced Working Capital
Helps businesses maintain a steady flow of working capital to manage day-to-day operations.
4
No Fixed Repayment Schedule
Flexible repayment schedules allow businesses to pay back the credit as per cash flow availability.
5
Collateral Security
Cash credit facilities typically require collateral, such as inventory or receivables.
6
No Penalty for Prepayment
Businesses can repay the overdraft anytime without facing prepayment penalties.
Cash Credit and Overdraft Facilities are ideal for businesses seeking flexible, on-demand funding solutions. By offering easy access to working capital and charging interest only on what’s utilised, these facilities provide businesses with the liquidity needed to manage operations smoothly.
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