Individuals / Proprietor of Proprietorship firms/ partners of Registered Partnership firms, Directors of Pvt. Ltd. Cos etc., who own unencumbered property either in their individual capacity or in the name of their firm / company
Type of facility
Term Loan & Cash credit
A) Max.75% of value of property
B) EMI should not exceed 60% of available repayment capacity based on average income of last 3 years whichever is less.
Min.25% of the value of property
Purpose of Loan
For Business development other than Promoter / Builder /Developer
Personal genuine financial requirements.
Registered / Equitable Mortgage of property
Two guarantors acceptable to the Bank
Rate of Interest
For Business : Term Loan/Cash Credit 11.50% p.a. (with monthly rests)
Personal/Others : Term Loan/Cash Credit 11.50% p.a. (with monthly rests)
For Builders & Developers : Term Loan/Cash Credit 11.50% p.a. (with monthly rests)
Subject to change as per RBI guidelines / our Bank's policy
Term Loan – Maximum Within 120 months' by EMI
Cash Credit - Renewal every year based on a/c performance and financial statements
Repayment should not be from the Cash flow generated by the real estate but should be operating profit from Salary / Business operations or some other assured income.