PURPOSE
Purchase of Office/Gala/Equipments
Renovation of Office/Gala
MAX. AMOUNT
Under Business Loan Scheme Rs. 50.00 Lakh
ELIGIBILITY
Constitution of the Borrower :- Individuals, proprietorship, partnership and Company (Pvt. /Public Ltd.)
Professionals (other than Medical Practitioners) holding a degree/diploma or who in the opinion of the Bank are technically qualified or possesses skills in the respective field like registered practicing lawyers, Architects, Chartered Accountants, Chartered Engineers, Journalists, Management Consultants, Software Engineers etc.
REPAYMENT
Maximum 84 months (Including moratorium period )
RATE OF INTEREST Click Here
MARGIN
25%
SURETY
Loan upto Rs. 10.00 Lakh :- No Surety.
Loan above Rs. 10.00 Lakh :- One surety with Net Salary/ Income above Rs. 30,000/- p.m.
MEMBERSHIP
Applicant and Co- Applicant - Regular member
Sureties
a) up to Rs.25.00 Lakh - Nominal Membership
b) above Rs.25.00 Lakh - Regular Membership
PRIME SECURITY
Hypothecation of assets purchased
Equitable Mortgage of premises, if purchased
COLLATERAL SECURITY
Loans Upto Rs.5.00 Lakh 25% of loan amount as collateral security
Loans above Rs.5.00 Lakh 50% of loan amount as collateral security
SERVICE CHARGES
As per Service Charges Manual.
SHARE LINKAGE
As per extant of Share Holding norms.
INSURANCE
Comprehensive insurance of all Assets hypothecated/mortgaged
OTHERS
Bills or receipts to be submitted and payment will be made directly to the suppliers of machineries or equipments and to the contractors.