OPEN TERM LOAN

Objective

The product is a pre-approved term loan facility with option of multiple disbursements for multiple purposes. The product is aimed at facilitating growth among well rated existing customers.

Age

Minimum 21 years ; Maximum: 65 years

Target Group

  • All units under Manufacturing sector;
  • Under Service sector: Educational Institution, Healthcare Industry (Hospital, Doctors, Pathological Labs, and Nursing Home), Hospitality Industry (Hotels, Restaurants, and Health Club etc), and Transport Operators with minimum 25 vehicles.

Quantum of Loan

20% of total limit sanctioned with a maximum of Rs. 5 crores

Margin

Margin at 25% uniformly.

Interest Rate 

Interest will be charged at prevailing rate on daily reducing balance at monthly rest.

Useful Links

RBI NABARD IBA BCSBI NPCI Rupay