SELF EMPLOYMENT LOAN
| Eligibility |
Any person Individuals and other Firms/Company.
Purpose For setting up of business Repayment Tenure 10 Years Rate of interest.
| Purpose |
For setting up of business |
| Repayment Tenure |
10 Years |
| Rate of interest |
Cibil score |
| |
i) 700 and above 10.50%
ii) 600 to 699 11.00%
iii) (-1) 10.50%
|
|
| 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 25 lakh -12.00%
Above 25 lakh upto 50 lakh - 11.50%
Above 50 lakh upto 1 Cr - 11.00%
Above 1 Cr - 10.50%
Business loans as per rating (above 1 crore) - 10.00% |
| 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. |
MSME LOAN
| Eligibility |
Any business man with assured monthly Income acceptable to the Bank. |
| Purpose |
Setting up of small scale industry or MSME |
| Rate of interest |
MSME Loan (Business)
- 700 and above - 10.50%
- 600 to 699- 11.00%
- (-1) - 10.50%
|
| Rate of Interest |
MAME Loan (Commercial Vehicle)
- 700 and above- 9.75%
- 600 to 699- 11.00%
- (-1) - 10.50%
b) Used
- Commercial Vehicle upto Rs.10 lakh - 12.00%
- Commercial Vehicle above Rs. 10 lakh- 12.50%
- Boat Repair/Vehicle Repair - 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 |
| Plant & Machinery (New Unit) |
Rate of Interest
- 650 and above - 9.75%
- 600 to 649- 11.00%
- (-1) - 10.50%
|
| Plant & Machinery (Purchase/Takeover of Old Unit) |
Rate of Interest
-
600 and above
Upto Rs 50 Lakhs -11.50%
Above Rs 50 Lakhs - 11.25%
|
| 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. |
| Agriculture & allied activities |
|
| |
- Boat Loans - 11.00%
- Poultry/ Piggery/ Diary & other allied activities - 10.00%
- Commercial Crop Loans -
|
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