The Hybrid Credit Advantage.
Enjoy the flexibility of an overdraft with the disciplined repayment of a term loan.
The BCB Dropline Overdraft Ā is a smart financing tool designed for business owners who want to manage their cash flow while ensuring a steady reduction in their overall debt. Unlike a standard overdraft where the principal remains stagnant, the limit under this scheme "drops" periodically (usually monthly). This unique mechanism ensures that you only pay interest on what you use, but you are also systematically paying back the principal over the tenure, preventing the trap of "perpetual debt."
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- Nature of Facility: Fund-based Dropline Overdraft (Secured).
- Limit Mechanism: The sanctioned limit reduces by a fixed amount every month based on the tenure.
- Interest Savings: Interest is calculated on the daily utilized balance, not the sanctioned limit.
- Tenure: Dropline Overdraft Limits shall be for a period ranging from 12 Months to 120 Months with fixed Monthly/Quarterly reduction in Limit depending upon the cash accruals.
- Security: Mortgage of Immovable Property (Residential, Commercial, or Industrial).
- Financial Discipline: The "Dropline" feature acts like an EMI for your limit, ensuring your business is gradually becoming debt-free.
- Target Group: Sole Proprietors, Partnership Firms, LLPs, Private Ltd Companies, and Professionals (Doctors, Engineers, CAs).
- Business Stability: Minimum 3 years of profitable business operations.
- Income Criteria: Net take-home income/cash profit must be sufficient to support the monthly limit reduction.
- KYC: PAN and Aadhaar of the entity and all promoters.
- Financials: Audited Balance Sheets and P&L for the last 3 financial years.
- Income Tax: Copies of ITR for the last 3 years.
- Security Docs: Original title deeds and valuation report for the mortgaged property.
- Bank Statements: 12 months' statement of the primary business account.
- As Applicable from time to time
- Nature of Facility: Fund-based Dropline Overdraft (Secured).
- Limit Mechanism: The sanctioned limit reduces by a fixed amount every month based on the tenure.
- Interest Savings: Interest is calculated on the daily utilized balance, not the sanctioned limit.
- Tenure: Dropline Overdraft Limits shall be for a period ranging from 12 Months to 120 Months with fixed Monthly/Quarterly reduction in Limit depending upon the cash accruals.
- Security: Mortgage of Immovable Property (Residential, Commercial, or Industrial).
- Financial Discipline: The "Dropline" feature acts like an EMI for your limit, ensuring your business is gradually becoming debt-free.
- Target Group: Sole Proprietors, Partnership Firms, LLPs, Private Ltd Companies, and Professionals (Doctors, Engineers, CAs).
- Business Stability: Minimum 3 years of profitable business operations.
- Income Criteria: Net take-home income/cash profit must be sufficient to support the monthly limit reduction.
- KYC: PAN and Aadhaar of the entity and all promoters.
- Financials: Audited Balance Sheets and P&L for the last 3 financial years.
- Income Tax: Copies of ITR for the last 3 years.
- Security Docs: Original title deeds and valuation report for the mortgaged property.
- Bank Statements: 12 months' statement of the primary business account.
- As Applicable from time to time