National Bank

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ADVANCES TYPES
MCB usually classified advances in to following types:

  • Agricultural Advances
  • Commercial Advances
  • Industrial Advances

COMMERCIAL ADVANCES
MCB divided the advances in to two major types:

  • Fund Based
  • Non Fund Based

In the fond base advances, the funds of MCB is involved and in Non Fund based only guarantee is given by the bank.

Fund Base Advance
MCB have following Fund base facilities of advance in its corporate branches. The details of these types would be later. These are as follows:

  • Demand Finance (DF)
  • Cash Finance (CF)
  • Running Finance (RF)
  • Foreign bills purchased (FBP)
  • Local Manufacturing Machinery (LMM)
  • Payment against document (PAD)
  • Finance against imported goods (FIM)
  • Finance against purchase collection (FACP)
  • Finance against foreign bills (FAFB)
  • Export Refinance Part I (Pre Shipment)
  • Export Refinance Part I (Post Shipment)
  • Export Refinance Part II

DEMAND  FINANCE
This is a type of secured loan and demand loan never allowed without security. It is a type of long term financing. MCB also gives loan under the head of demand finance to individuals, industrial units commercial business etc

CASH  FINANCE
In this, the borrower gives a specific reason for the need of cash. MCB gives the facility of cash credit to business. The amount is passed through voucher and credit to the party account. Normally 0.60 paisa per thousand is charged on daily basis to customer.

RUNNING  FINANCE 
These finances as evident by the name are given to the business to meet their daily needs. The mark up is charged on daily balances. This type of advances are given to trade, commerce and manufacturing for general purpose. Normally 0.60 paisa per thousand is charged is charged on daily basis. It is drawn through Cheque.

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