FAQs on OD/CD LIMITS with Jessicafincorp :
1. . Which are the constitutions eligible for Cash Credit and Overdraft?
We offer the Cash Credit and Overdraft facility to resident individuals (with business
registration), proprietorship firms, partnership firms, LLP, Pvt. Ltd. companies and
unlisted public companies.
2. What is the interest rate for your loan facility?
We offer competitive interest rates for our loan facilities. The interest for each loan is
determined based on assessment of your business profile, past track record, financial
records, loan amount required and tenure of loan.
3. How does interest get applicable on the limit given by bank?
Interest is charged only on the amount utilized and not on the entire sanctioned limit.
4. As this is a secured loan, what are the types of collateral required against the loan?
Collateral is required against the facility as follows:
a. Overdraft – Only property collateral is required.
b. Cash Credit – Primary security of stock and book debts required along with
property collateral.
