Purchase of Office/Gala/Equipments
Renovation of Office/Gala
Constitution of the Borrower :- Individuals, proprietorship, partnership and Company (Pvt. /Public Ltd.)
Professionals (other than Medical Practitioners) holding a degree/diploma or who in the opinion of the Bank are technically qualified or possesses skills in the respective field like registered practicing lawyers, Architects, Chartered Accountants, Chartered Engineers, Journalists, Management Consultants, Software Engineers etc.
Maximum 84 months (Including moratorium period )
RATE OF INTEREST Click Here
Instruments/Equipments : 10%
Premises/Computer/Renovation : 25%
Loan upto Rs. 10.00 Lakh :- One surety with Net Salary/ Income above Rs. 12,000/- p.m.
Loan above Rs. 10.00 Lakh :- One surety with Net Salary/ Income above Rs. 20,000/- p.m. or Two Sureties with Net Salary/Income above Rs. 15,000/-p.m.
Applicant and Co- Applicant - Regular member
a) up to Rs.25.00 Lakh - Nominal Membership
b) above Rs.25.00 Lakh - Regular Membership
Hypothecation of assets purchased
Equitable Mortgage of premises, if purchased
Loans Upto Rs.5.00 Lakh 25% of loan amount as collateral security
Loans above Rs.5.00 Lakh 50% of loan amount as collateral security
0.50% upto 31.12.2018
1.00% of sanctioned amount
Comprehensive insurance of all Assets hypothecated/mortgaged
Bills or receipts to be submitted and payment will be made directly to the suppliers of machineries or equipments and to the contractors.