Asset Loan

Loan Amount Upto 50.00 Lakh

Rate of Interest :10.35 % (WEF 01-04-2023)

Limit above To Rs 50.00 Lakh

Rate of Interest :09.85 % (WEF 01-04-2023)

Re-Payment Period :Max 10 Years

Purpose

• To purchase, construct or repair any property other than residential property.
• Any business requirement other than working capital or to purchase machinery
• For medical, social or educational purpose.

• Mortgage of property required.
• Charge to be registered with Govt. or Revenue Authorities.
• KYC Documents with 2 Latest Photographs
• 3 Yrs. I.T. Returns / Balance Sheet/ Last 3 Months Salary Slip and Statement of Net worth.
• Last 2 Yrs. Bank Account Statements.
• 2 Guarantors required with KYC and Statement of Net worth.
• If required, moratorium period up to 18 months can be allowed at Bank’s discretion.
• 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. (If required)
• Principal / Collateral Security must be covered by insurance.