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Home >> Personal Banking >> Credit Schemes >> Loan Against Mortgage of Immovable Property
 
 
 
Purpose
 

To cate the Business needs of the borrower

 
Eligibility
 

Existing Business Enterprises with a satisfactory track record of last three years. Special  considerations to Trusts, society, School and Educational Institutes etc.

 
Income Criterion
 

Net Income to be minimum 1.5 times of the proposed EMI. Interest and Depreciation charged to be added back for the purpose of arriving at Net Income.

 
Nature of facility
 

Term Loan/Overdraft facility on monthly reducing Drawing Power (DP) basis with a minimum of Rs.10 lacs to Rs.100 lacs depending upon the value of IP and income/ repaying capacity of the borrower.

 
Rate of Interest
 
Repayment
 As per the convenience of the customer subject to the maximum of 84 EMI
 
Upfront Fee
0.90% of the loan amount (Maximum 45,000/-)

 

Documentation Fee
 Rs. 900/- + Taxes
 
  
 
 
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