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Warehouse Loan

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Warehouse loan is a form of inventory financing that involves a loan made by a financial institution to a company, manufacturer, or processor. Existing inventory, goods, or commodities are transferred to a warehouse and used as collateral for the loan.

Tenure of 1 year

Tenure for this loan is limited to 1 year

No processing Fees

It has No Loan Processing Fees.

ROI 14%

It has ROI of 14%.

Aspects

  • Loan facility available up to 60% to 70% of the goods valuation.
  • High financing support provided based on eligible goods value.
  • Maximum loan tenure available is up to 1 year on a season-wise basis.
  • No guarantor is required to avail the loan facility.
  • Pre-payment of loan attracts a penalty charge of 2%.

ROI & Handling Charges

  • Loan facility available at an attractive interest rate of 14%.
  • No processing fee is charged on the loan amount.
  • No additional handling charges are applicable.

Eligibility

  • Applicants between 18 and 55 years of age are eligible for the loan facility.
  • Proprietary and partnership firms can apply for the scheme.
  • Individual applicants and farmers are eligible to avail the loan facility.

Documents Required & Shared Holdings

  • New customers and guarantors are required to open a Savings or Current Account with the bank.
  • Duly filled application form along with:
    • Income Proof of Applicant
    • Residential Proof of Applicant
    • PAN Card of Applicant
    • KYC Documents of Applicant
  • Warehouse receipt must be submitted for loan processing and verification.
  • Nominal membership.