Mortgage loans and OD against Property

Loan-Advance

Secured Overdraft:

To Expand your business reach by utilizing this overdraft facility to meet the working capital requirements of your business for day-to-day business operations against security of immovable properties that are viable to be considered as security according to the Bank’s guidelines. This facility is provided to trading firms, manufacturing units, processing units, transport operators, hospitals, hotels, restaurants, small and medium business entities, wholesalers / small retailers, etc. Benefits include quick processing, personalized service and convenient documentation.

Limit Eligibility

  • Working capital limits are assessed based on:
  • 20% of projected sales of the concern during the next one year.
  • 75% of the working capital gap of the concern.
  • 50% of the security offered including movable and immovable assets.

Security

  • Primary Security: property of Land & Building

Term Loans:

This is an ideal product designed for all categories of borrowers to fulfil their business and personal needs. Avail this loan scheme against mortgage of property and repay at fixed equated installments at periodic intervals within the contracted time frame. Benefit from quick processing of the loan and customized features to suit your requirements.
With focus on the industrial, non-industrial borrowers and individuals covered under priority sector, assistance under this scheme is also provided to whole sale traders, medium scale industries, construction contractors, transport companies, and for construction of commercial complexes, etc.

Purpose and quantum of Loan

  • For the purchase of machinery and fixed assets by manufacturing units, processing units, etc.
  • For working capital requirement, construction of industrial sheds, WCTL to facilitate repayment of instalments in case of SSI units.
  • For meeting personal expenses / medical expenses which exceed the limit under personal loans are sanctioned in this category within the framework of RBI guidelines.

Security

  • Movable and immovable assets valued at 200% of the loan amount
  • Two acceptable guarantors/co- obligants for the Loan.