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Easily avail contractor finance with J&K Bank

J&K Bank is there to solve the problem of funds and let your work be done at a good pace by providing Contractor Loan Scheme.

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Easily avail contractor finance with J&K Bank

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  1. Easily avail contractor finance with J&K Bank Working on a contract basis includes money and management. Money is the utmost significant component of every business and for a contractor, it is vital to have sound funds for the smooth functioning of work. As there comes a lot of requirements such as equipment. J&K Bank is there to solve the problem of funds and let your work be done at a good pace by providing Contractor Loan Scheme. The purpose is to provide finance to contractors for work orders generated by the government department and government undertakings. The Nature of the facility is a secured overdraft/cash credit/cheque purchase/bank guarantee. The eligibility for the same is construction contractor approved by/registered with the business for a minimum of 1 year and must have successfully executed and completed 2 to 3 contracts. The scale of finance is a minimum of Rs. 2.00crore. The margin on the bank guarantee is 25%. Rate of interest up to Rs 2 lacs: applicable MCLR + 3.00% (FLOATING), above Rs 2 lacs and less than Rs 15 lacs: applicable MCLR+ 3.50%(floating), Rs 15 lacs and above: as per internal rating. Processing charges are as per the existing ‘ Service Charging Schedule’ of the bank. Security is different for primary and collateral. The contractor finance with J&K Bank is the best way to receive cash in advance on work which you have yet to perform and help contractors to turn their business into a viable enterprise. J&K Bank has made it easier to reach them through facilities such as internet banking, mobile banking, merchant services, and instant payments and support services. It also provides help centers such as ATM& branch locator, loan application tracker, and tools/calculators. For senior citizens, J&K Bank provides doorstep banking. For further queries refer to the website. Its time to stop worrying about funds and accelerate your business to reach its highest point when J&K Bank is there for your service!

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