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- Working Capital And Foreign Currency Demand Loan Wcdl Fcdl
Demand Loan (WCDL/FCDL)
Demand loans for a Corporate's fixed tenor and fixed amount working capital needs.
Working Capital & Foreign Currency Demand Loan (WCDL/FCDL)
Working Capital Demand Loan (WCDL) is a working capital loan available on demand to the Corporates. While the rupee denominated facilities are called WCDL and if the same facility is availed in foreign currency it is called Foreign Currency Demand Loan (FCDL).
Features & Benefits
Fixed term and ROI
WCDL/FCDL facilities are fixed term, fixed amount loans available at fixed rate of interest
Loan tenure
The tenor of the loan ranges from 7 days to 180 days (about 6 months)
Interest rate basis
Interest rates on WCDL are based on MCLR or Repo
Interest rate calculation
Depending upon the tenor for which funds are being drawn, a spread is charged over 1 month, 3 month or 6-month MCLR
Simplified documentation
Minimal documentation requirement
Flexible repayment option
Repayment/ prepayment can be done both online and offline with a minimal pre-payment charge
- WCDL/FCDL facilities are fixed term, fixed amount loans available at fixed rate of interest
- The tenor of the loan ranges from 7 days to 180 days (about 6 months)
- Interest rates on WCDL are based on MCLR or Repo
- Depending upon the tenor for which funds are being drawn, a spread is charged over 1 month, 3 month or 6-month MCLR
- Minimal documentation requirement
- Repayment/ prepayment can be done both online and offline with a minimal pre-payment charge
How it works?
RBI provides the following guidelines to issue a WCDL
- 01
As per RBI (Reserve Bank of India) guidelines on "Loan System for Delivery of Bank Credit,” for borrowers having aggregate fund based working capital limit of ₹150 crores and above from the banking system, a minimum level of loan component of 60% is mandatory.
- 02
Hence, for such borrowers, drawings up to 60% of the total fund based working capital limits shall only be allowed from the ‘loan component’. Drawings in excess of the minimum ‘loan component’ threshold may be allowed in the form of cash credit facility.
Contact Us
To avail the facility, please visit our nearest Branch/RM
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