Small Business Overdraft By Deutsche Bank

Overview For Small Business Overdraft By Deutsche Bank

 

Avail Deutsche Bank Small Business Overdraft for the meeting your working capital needs, business expansion or for purchase of equipment.

Here are some of the key features of a Small Business Overdraft:
 

  • Limits permissible - Rs. 10 lakh to Rs. 50 lakhs.
  • Tenure - 12 months renewable.
  • Attractive interest rates.
  • Less documentation, fast processing.
  • No collateral required.

 

Requirments For Small Business Overdraft By Deutsche Bank

 

 

Applicants must meet the Reserve Bank of India’s definition of Micro/Small Enterprises:

  • Purpose of Loan - Working Capital
  • Personal Guarantee - Key promoters will be required to stand as guarantors to the loan.
  • Business Vintage - Minimum three years in the same line of business and operating for three years in the same city.
  • Financial - All applicants to submit audited financial statements - Profit & Loss Account, Balance Sheet and Tax Audit report for the last two financial years.
  • Bank Statement - Bank statements for six months from the customer’s main bankers.
  • Stock & Book Debt / Operating expenses statement.
  • Rating Based on:
  • Robustness of Business Model
  • Company's Competence
  • Quality of Management
  • Competitive scenario
  • Industry performance
  • Turnover Growth
  • Margins
  • Financial Ratios
  •  

Shedules of Charges For Small Business Overdraft By Deutsche Bank

 

w.e.f. 1st February, 2015

 Type of Charges
 Charges

 Default Interest Rate
 24% per annum

 Credit Maintenance Fee
 1% of the sanctioned limit, annually

 Documentation & Processing Fees
 2% of the sanctioned limit

 Renewal Fees
 2% of the sanctioned limit

 Non Utilisation Fees
 2% p.a. of the unutilised drawing power
 if average quarterly utilisation is less than
 65% of drawing power.

 Penal charges for non submission or
 delayed submission of Contractual
 Document
 Rs. 10,000/- if the contractual documents*
 are not submitted within 30 days from due
 date.

 CIBIL Report Issuance Charges
 Rs. 50/-

 Service Tax
 Applicable on fees and charges

 Stamp Duty Charges on Loan Agreement
 Depending on local regulations

 No Dues Certificate
 Free

 Duplicate Statement Issuance Charges
 Rs. 500/-

 Annual Account Statement Charges
 Free

*Contractual Documents: Stock and Book Debts statements and / or any other document as specified in the Sanction Letter.

Sanction and Disbursement at sole discretion of the Bank. Schedule of Charges is subject to review by the Bank from time to time. All Fees and Charges mentioned above will attract Service Tax / Education Cess at applicable rates.

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank in India is a fully integrated financial services provider to Indian corporate, institutional and individual clients. Our services include on-shore investment banking, institutional equities broking, asset and private wealth management, retail banking and business processes outsourcing.

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