|Purpose||For salaried persons only.
|Loan Amount||Max. Up to Rs.1,00,000.00 (Rupees One Lakh Only)|
|Rate of Int.||11.00%|
Terms and Conditions:
- Hypothecation of Machinery / Equipment.
- Collateral Security required.
- KYC Documents with 2 Latest Photographs
- 3 Yrs. I.T. Returns/ Balance Sheet and Statement of Net worth.
- Last 2 Yrs. Bank Account Statements.
- Project report (CMA Data) CA certified. (if new business)
- 2 Guarantors required with KYC and Statement of Net worth.
- Additional Shares (Linking Shares) to be taken @ 01.00% of sanctioned Limit.
- Linking Share amount will be adjusted/refunded at the time of closer of loan account.
- Dividend on linking Shares will be transferred in account as and when declared by the Board of Directors.
- Penal interest @2% extra will be charged in case of irregular A/cs.
- No Objection Certificate from other bank if any other facility availed.
- Principal / Collateral Security must be covered by insurance.