||For working capital in the form of secured OD and term loan
||1. Existing and new clients whose track record is good
2. Units whose borrowal accounts are proposed to be taken over from other banks subject to complying with takeover norms of the Bank.
|Rate of Interest & Repayment
TL- Maximum of Seven years
WC-Tenability -2 yrs subject to annual review
- Hypothecation: Stocks and/or book debts (not more than 90 days) acceptable to the bank
- Mortgage of immovable property whose value is not less than:
- 100% of the limit in case of secured OD limits upto Rs.10 lakhs.
- 133% of the limit in case of secured OD limits of over Rs.10 lakhs and exclusive term loans.
- 133% of the combined limit where secured OD limit and term loan are permitted.
- 200% of the limit in case of commission agents.
- Personal guarantee of partners, promoter directors and owner of the immovable property.
- Immovable property in the name of the borrowing unit, proprietor, partner(s), director(s) of the private limited company are accepted.
- Agriculture land, tenanted premises (other than those to PSUs, PSBs, MNCs), properties prohibited by statutory authority are not acceptable.
|Composite /loan Limit
||Maximum limit: Rs.10 Crores (fund based or non fund based or both)
||25% margin in case of term loans. For construction, Margin -40% 10% margin on stock and book debts in case of Secured OD of over Rs.50 lakhs.