Sanction letter

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hardik shah (Querist)
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16 October 2013 what is the sanction letter from bank against cash credit and term loan?
please give me details regarding the sanction letter from bank against cash credit and term loan ..?

what is the penalty for any default.?

Ajay Mishra

Ajay Mishra (Expert)
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16 October 2013 Sanction letter is a letter issued by the Bank for giving you sanction of loan subject to the terms and conditions as given in sanction letter.

After fulfilling the conditions given there in you can get loan from the bank.

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