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Bank Finance

This query is : Resolved 
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(Querist)
03 August 2020 Sir,
Whether CC Loan is allowed to savings Bank account holder.
Whether it is manadatory to have current account , to avail CC Loan
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 August 2020 Yes, it is manadatory to have current account , to avail CC Loan.
CC not allowed in SB account.
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CA Raj Doshi

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CA Raj Doshi (Expert)
04 August 2020 Why is it mandatory to have current account to avail CC loan ? What is the purpose or rationale ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 August 2020 CC loans are granted for business purposes, for business transaction SB account can't be used.
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