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Eligibility: |
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Purpose of the Loan: |
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This cash credit facility is granted for providing working capital assistance to a business/unit. |
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Permissible amount of the Loan: |
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1.The facility will be granted as a loan.
2.The maximum amount of loan will be Rs.20.00 Lakhs or 40% of the realisable value of the immovable property whichever is les |
| Margin: 60% |
| Interest: |
| Click to View the Latest Rate |
| Processing Fees: |
| Processing Fees at 1% of the loan amount to be charged. And no other hidden charges as charged by other banks. |
| Security: |
- Unencumbered immovable property owned by the applicant
- The applicant should process a clear title over the.immovable property offered as security
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| Repayment: |
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The loan to be repaid in 60 months in equated monthly instalments. |
| Insurance: |
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Insurance to be got effected over the immovable property held as security at the cost of the applicant. |
| Disbursement: |
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Disbursement of the loan is made after ensuring proper end use of the loan. |
| Conditions: |
- The Property must valued by the bank's approved valuer to know the proper market value of the property given as security.
- Non -Encumbrance certificate for the immovable property offered as security.
- An opinion from the Bank's advocate as to the possession of clear marketable title over the property offered as security by the applicant must given.
- No advance under this scheme may be given against third parties property.
- Post dated cheque should be given for repayment of the loan installment.
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