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Indian Overseas Bank

IOB CA SCHEME

Bank Indian Overseas Bank
Scheme IOB CA SCHEME
Description
  • To purchase car
  • To construct office premises
  • To acquire ready built office premises (partial or fully constructed)
  • To cover cost of land and construction
  • To purchase furniture & fixture, fittings and office equipments, computers, Books and other accessories, etc.,
  • Towards working capital and financing receivables
Eligibility
  • Chartered Accountants (individual or joint)
  • Proprietorship Concern
  • Partnership Firm
  • Partnership with limited liability
  • In case of Firms all partners are treated as co-applicants
Rate of Interest & Repayment As applicable to MSME Sector; Rate of interest linked to Base Rate; Rate of interest is subject to review at periodical intervals

Repayment:

Maximum of 10 years by EMI (including Moratorium period)

Repayment to commence from the date of commercial operation or after completion of initial repayment holiday whichever is earlier

Interest to be serviced as and when debited

Collateral
  • No collateral security upto Rs.10 lacs
  • All loans upto Rs.10 lacs to be covered under CGTMSE Guarantee Scheme
  • Collateral security may be obtained for loans above Rs. 10 lacs, if not covered under CGTMSE guarantee scheme. However, in deserving cases, branches may consider the loans upto Rs.100 lacs with CGTMSE cover.
Composite /loan Limit Varies from Rs.10 lacs to Rs.125 lacs depending on the category
Margin
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