Business Loan

SELF EMPLOYMENT LOAN

Eligibility
Any person Individuals and other Firms/Company.
Purpose
For setting up of business 
Repayment Tenure
10 Years 
Rate of interest
11.00%
Surety
Minimum one guarantor with sufficient net worth
Security
Mortgage of unencumbered immovable property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed
Margin
50% of the valuation of immovable property
Loan Limit
Rs. 5,00,000/-
Other Terms
Membership is necessary for the borrower and sureties to avail this loan.
MORTGAGE LOAN

Eligibility
Any business man with assured monthly Income acceptable to the Bank.
Purpose
  • Setting up of business
  • Purchase of business
  • Renovation of business premises
  • Improvement of business
Rate of interest

Upto Rs. 50 lakh - 11.50% 

Above Rs. 50 Lakhs - 11.00%

Repayment Tenure
10 years
Surety
Minimum one guarantor with sufficient net worth
Security
Mortgage of unencumbered immovable property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed
Margin
50% of the valuation of immovable property 
Other Terms
Membership is necessary for the borrower and sureties to avail this loan.

SMALL SCALE INDUSTRY/SME LOAN

Eligibility
Any business man with assured monthly Income acceptable to the Bank.
Purpose
Setting up of small scale industry or SME
Rate of interest
11.00%
Surety
Minimum one guarantor with sufficient net worth
Security
Mortgage of unencumbered immovable property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed
Margin
50% of the valuation of immovable property
Other Terms
Membership is necessary for the borrower and sureties to avail this loan.

HYPOTHECATION LOAN ON MACHINERY

Eligibility
Any person with assured monthly Income acceptable to the Bank.
Purpose
Purchase of machinery
Rate of Interest
12.00%
Margin
75% of the machinery or 50% of valuation whichever is lower
Security

New machinery

Mortgage of unencumbered immovable property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed.

Other Terms
Membership is necessary for the borrower and sureties to avail this loan.


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