|Bank||Indian Overseas Bank|
|Scheme||IOB ENGINEER SCHEME|
|Description||TO CONSTRUCT OFFICE PREMISES
TO PURCHASE FURNITURE & FIXURE, FITTINGS & OFFICE EQUIPMENTS SUCH AS COMPUTERS,PRINTERS,PLOTTERS,BOOKS & OTHER ACCESSORIES ,ETC.
To Purchase Centering sheets, Spans, props, Column box etc.,
To purchase Constructional Machineries like J.C.P Rollers, Vibrators, Mixer Machines, drillers, earth Rammers, Other equipments, etc.,
|Eligibility||Civil Engineers ((Individuals upto 65 yrs of age)
Partnership with Limited Liability.
|Rate of Interest & Repayment||Interest Rate : As per extant guidelines.
A reduction of 0.50 % on the applicable rate if collateral coverage is 100% or above.
Cash credit : To be renewed annually and Interest to be serviced on monthly basis.
Term Loan : Maximum of 7 years in Equated Monthly Instalments Including moratorium period of 3 months.
Initial Moratorium upto 12 to 18 months in case of Financing construction activity only.
Interest to be serviced as and when debited including holiday period.
Repayment to commence from the date of commencement of Commercial Operation.
|Composite /loan Limit|
|Detail Link||View Link|