Loan / Cash Credit Against Property
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Particular | ||||||||||
| Eligibility | Self-employed, Professional Business Enterprise, Salaried | ||||||||||
| Purpose of the Loan | a)Business expansion / professional needs / marketing
b)Improvement/extension of existing property c)Repayment of high interest bearing existing loans from other banks/FIs d)Purchase of new shop / office / go down for business expansion e)Working capital needs |
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| Type Of Loan | Term Loan / Cash credit | ||||||||||
| Loan Amount | 70% of Valuation of Property | ||||||||||
| Rate of Interest | Term Loan / CC :-
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| Margin | 30% of valuation property / sale deed | ||||||||||
| Security | Mortgage of Immovable property | ||||||||||
| Repayment of loan | For Term loan – Tenure: 7 to 15 Years by EMI
For Cash Credit – 3 Years |
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| Title Clearance and valuation charges. |
To be borne by the customer | ||||||||||
| Share linking | 2.5 % of the loan amount (secured Loan) Unsecured Loan 5% | ||||||||||
| Guarantee | Two/Three guarantor possessing property and also Income tax-payer |