| Loan Type | Term Loan / Overdraft upto Rs.5.00 Lakhs for Worki |
|---|---|
| Purpose | For Working Capital Day to Day needs of Business & Purchase of office premises ,Furniture ,Machinery etc Purchase of Vehicle for Personal Use 48 Months for Term Loan upto Rs.5.00 Lakhs & On demand ( Renewal after 12/18 months) for Overdraft |
| Eligibility | Doctors,Engineers ,Charted Accountants,Company Seceratary ,Cost Accountant etc. |
| Margin | 20 % in favour of bank in case of asset to be purchased ( 40 % in favour of bank for Existing Property offered as security ) |
| Mode Of Repayment | 30 % in favour of bank on Authorized Dealer quotation (Ex showroom + Registration + Insurance) for New Vehicle Standing instruction from our Bank Account ,Debit ECS |
| Repayment Period | 84 Months for Term Loan upto Rs.50.00 Lakhs & On demand ( Renewal after 12/18 months) for Overdraft 60 Months for Vehicle Loan Nil for Term Loan / Overdraft upto Rs.5.00 Lakhs |
| Roi | For Term Loan/ Overdraft Personal Loan upto Rs.5.00 Lakhs 11.50 % p.a. For Term Loan/ Overdraft upto Rs.50.00 Lakhs 10.50 % p.a. For Vehicle Loan 9.50 % p.a. |
| Security | Hypothecation of Stock Book debts for Overdraft Loan upto Rs.5.00 Lakhs Hypothecation of Stock Book debts and Immovable property / Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank for Loan amount upto Rs.50.00 Lakhs. Hypothecation of vehicle and Collateral security ( Immovable property / Govt .Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank ) for Loan amount more than Rs.10.00 Lakhs . |
| Guarantors | One acceptable guarantors |
| Processing Fees | 0.50% of sanctioned loan amount |
| Other Charges | As per Bank's policy |
| Banks Shares | 2.5 % of the loan amount Bank's shares |
| Prepayment Charges | No pre closure charges |