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Big property holders may also at times feel short for cash. Keeping such
circumstances in mind The Nainital Bank Ltd. has launched a scheme for
property holders as Overdraft/TL/DL. Against Immovable Properties to all
individuals, Firm, Company, Regd. Society, Regd. Trust engaged in any
lawful activity for productive purpose.
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Max
Loan limit |
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Rs.
100 lac or 60% of value of property.
In case of individual - 5 times of average
of last 3 years return income.
In case of Firms/Company/Others- 5
times of average cash accruals of last 3 years. |
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Margin |
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Minimum 40% of value of immovable
property.
Minimum 20% of face value of paper
security. |
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Repayment |
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As negotiated with the branch concerned. |
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Requirement |
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Applicant should be permanent resident of
the area/nearby area of branch, with satisfactory social & economical
status and must be income tax payee/assessee for last three financial
years with no background as defaulter of any bank/financial institution
and others.
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The
applicant should be contractor, supplier, builder, professional, real
estate agent, travel agent.
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Property should be in the name of
borrower/individual/proprietor/firm/partner's/company director's. |
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