To provide hassle-free finance to traders, professionals, service enterprises, individuals/ HUF etc for productive activities. Loans may also be sanctioned for purposes of children marriage, medical treatment, foreign travels and family settlements, etc. Lending against speculative / prohibited purposes or for investment in properties/ shares is not allowed under the scheme.
Term Loan / OD (Reducing balance) / OD (Running account)
- Business Purpose – Rs.1000 lakh (maximum)
- Personal Purpose – Rs. 50 lakh (maximum)
- Non IT Assessee – Rs.10 lakh (maximum)
Individuals, Proprietor/ Partnership, Limited Liability Partnerships, Registered Corporates, Public/Private Limited Companies, Societies/ Trusts etc.
Margin :- 50% of the property value assessed
Repayment :
- OD (Running) – One year (renewable on every year)
- OD (Reducing balance) / TL – 84 months
Security :
- Non-Agriculture property of 200% of the loan amount if the property.
Interest :
Fees & Charges
- WC: 0.50% of the Limit Sanctioned + Taxes as applicable
- Term Loan: 1% of the Loan + Taxes as applicable.