FINANCING AGAINST IMMOVABLE PROPERTY
Eligibility :
- Individuals : Salaried/Professional, Self Employed, Business persons, Agriculturists & Others, (whose income is considered for eligibility) should be employed /engaged in business/profession for a minimum period of -3- years.
- Corporate Entities :
- The Firm/ Company should have been established in the line of activity for a minimum period of 3 years.
- The Firm/ Company must be profit making for the last three years.
Quantum of Finance :
Minimum : Rs.5.00 Lacs
Maximum : (For all category of borrowers) :
- Metro branches: Rs.5.00 Crores
- Urban branches: Rs.3.00 Crores
- Semi Urban branches: Rs.2.00 Crores
- Rural branches: Rs.25 Lacs
Margins :
40% on Value of immovable properties
Repayment Period :
Term Loan : up to -84- months.
Moratorium period : Maximum -3- months. Interest to be recovered separately as & when applied in the account during moratorium period.
Overdraft : -12- months subject to annual review
Rate Of Interest :
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