Maximum of Rs 50 Lacs 20% of annual projected revenue based on last years’ receipt subject to availability of prime security with requisite margin.
:
The repayment of TL shall be fixed on the basis of income generation of the project and the period of Loan should not exceed 120 Months including moratorium period up to 18 months maximum based on the project.
Prime Security : Term Loan
Mortgage of unencumbered Immovable Property* (i.e. Non-agricultural) The residual value of property after adjusting margin mortgaged as prime security against Term Loan of the borrower
for the same project may also be taken as security for the OD facility.
And / Or Bank approved liquid securities like Bank’s Own term deposit/NSC**/LIC policy**/etc in the name of Borrower/Third person who will extend his/her personal guarantee. * The value of immovable property to be taken as per the valuation policy of our Bank. * The residual value of property mortgaged as prime security against existing facility of the borrower for the same project may also be taken as security for the OD facility. In such case residual value of the property will be considered after adjusting margin of the existing facility. ** Only Surrender Value of LIC policy/ies/Face Value of NSC’s shall be taken into account.
If property is owned by Borrower/Third person who will extend his/her personal guarantee.
Further, where third party’s property is offered as collateral security, he/she should stand as guarantor.
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The Nainital Bank Limited,Head Office, Seven Oaks Building, Mallital, Nainital Uttarakhand - 263001
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