Business Overdrafts

We understand that expanding and growing your business to the heights of success is a dream of every entrepreneur like you. At times, to fuel this growth, your enterprise would require urgent finance. At such times, an overdraft against your investments would be just the right option for you. You need not liquidate your precious, farsighted investments and at the same time, meet the financial needs of the present.

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Features & Benefits

Overdraft against RBI Bonds

This is an overdraft facility against permitted series of RBI Bonds held in dematerialised form.

Overdraft against Debt Mutual Fund units

This is an overdraft facility against the security of select Debt Mutual Fund units.

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Facilities are available for applicants residing in and around the limits of the cities where HSBC has branches and is subject to change from time to time. Business overdraft facilities are subject to terms and conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited (HSBC), India.

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Particulars

Amount	From Rs. 100,000 to Rs. 25,000,000
Maximum tenor	One year. The tenor can be renewed, subject to HSBC's discretion
Value	The overdraft facility is provided up to a maximum of 130% of the face value of the RBI Bonds, depending upon the remaining maturity period of the RBI Bonds as per the following table: a. 1 years residual maturity - 130% b. 2 years residual maturity - 115% c. 3 years residual maturity - 105%
Interest rate	For the interest rate applicable, contact the nearest HSBC branch
Interest calculation method	Interest charged on a monthly basis on the actual amount utilized
Processing fee	1%
Ownership	The facility can be granted to the company / partnership / proprietorship against the security of Bonds held in the name of the director / partner / proprietor of the firm
Important information	Facility can be extended only against permitted series of RBI Bonds
Guarantor	Personal guarantee of partners in partnership firm and directors in private limited company. Not applicable to sole proprietorships.

Particulars

Amount	From Rs.100,000 to Rs.2,000,000
Maximum tenor	One year. The tenor can be renewed, subject to HSBC's discretion
Value	The overdraft facility is provided up to a maximum of 60% of the Net Asset value of the Debt Mutual Fund units and is subject to periodic review. This facility is not available against Equity Mutual Fund units.
Interest rate	For the interest rate applicable, contact the nearest HSBC branch
Interest Calculation method	Interest charged on a monthly basis on the actual amount utilized
Processing fee	1%
Ownership	The facility can be granted to the company / partnership / proprietorship against the security of units held in the name of the firm or director / partner / proprietor
Important information	For an approved list of Debt Mutual Funds, contact your nearest HSBC branch
Guarantor	Personal guarantee of partners in partnership firm and directors in private limited company. Not applicable to sole proprietorships.