Purpose: To provide hassle free credit to borrowers in trade and services sector who are willing to furnish mortgage of land and building of adequate value.
- First generation entrepreneurs as well as promoters of existing units for the purpose of setting up of new units.
- Retail and wholesale traders.
- Small Business enterprises.
- Professionals and Self-Employed.
Nature of Facility
- Term loan: For acquiring fixed assets.
- Cash Credit: For build-up of inventory and currents assets, i.e. working capital requirements
- Minimum : Rs. 25,000/-
- Maximum : Rs. 50,00,000/-
Margin: 10% of actual requirement or 35% of value of property, whichever is higher.
- Hypothecation of stocks
- Mortgage of land & landed property & Third Party Guarantee
Moratorium: Depending on the scheme and maximum of 6 months.
Interest: Applicable as per prevailing rate of interest at the time of sanction and is subject to change from time to time.
- Term Loan: Maximum 60 months
- Cash Credit: Repayable on demand. However, the limit is valid for 3 years subject to yearly review
Processing & Upfront Fees: Applicable as per prevailing rate at the time of sanction.
Pre-payment Charges: 1% of the prepaid amount for term loan above Rs. 5.00 lakh