Bank | Union Bank of India | |||||||||||||||||||||||||||||||||||
Scheme | Union Liqui Property | |||||||||||||||||||||||||||||||||||
Description | · To meet working capital requirements for business activity.
· For Shoring-up of Net Working Capital · For purchase/construction/renovation of factory/ offices / shop / godown · For purchase of plant & machinery · For purchase of equipment. · Financing repayment of high cost debts
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Eligibility | · All business enterprises irrespective of constitution (Proprietorship/Partnership/Companies/Trust/Association etc) other than individuals and HUF engaged in business activity for minimum last two years.
· Units should have in place all necessary statutory approvals / NOCs from respective authorities. · Credit Rating of the borrower should not be below UBI-5 in case of new connection and UBI-4 in case of takeover advances. · All new as well as existing accounts can be covered under the scheme. · Enterprises engaged in speculative activities/Real Estate activities are not eligible for finance under this scheme. |
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Rate of Interest & Repayment | Rate of Interest –
(rate of interest is subject to revision from time to time) · Excluding additional credit risk premium for term loans
Repayment Period · Term Loan to be repaid in maximum 120 months inclusive of moratorium period not exceeding 6 months. Interest is to be paid as and when due. · Overdraft facility is for a period of one year. However, it may be further extended subject to review/renewal of the facility by competent authority on yearly basis.
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Collateral | · Equitable Mortgage of residential / commercial / industrial property (Land & Building) located at Metro / Urban / Semi Urban areas only, which are un-encumbered from other bank / FI and should be enforceable under SARFAESIA.
· The existing immovable property held as prime/collateral security for a particular credit facility can be accepted as prime/collateral security for other credit facility. However, the value of property to be considered for the purpose of prime/collateral security is to be restricted to the residual value of property in excess of 200% of the outstanding of the loan facility against which the property is held as prime security. · The property should be in the name and possession of applicant / proprietor / partners / directors /promoter. · Property in the name of close relatives i.e. father / mother / spouse / son / unmarried daughter of the proprietor / partner / director / promoter may also be accepted and in that case the property owner should stand as guarantor.
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Composite /loan Limit | · Minimum Rs.0.10crore
· Maximum Rs.10.00crore |
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Margin | Margin on Value of Property – 50% of the fair market value of the property as per valuation report i.e. value of property should be minimum 200% of the proposed loan amount. | |||||||||||||||||||||||||||||||||||
Detail Link | View Link |