|Union Bank of India
|Union Start up
|To finance for innovation, development, deployment or commercialization of new product, processes or services driven by technology or intellectual property as per Start-up India Scheme.
|The Unit must be eligible and certified as “Start-up” by the concerned Government Authority as per Start-up India scheme launched by Government of India (GoI).
|Rate of Interest & Repayment
|Concession over applicable rate of interest
Working Capital: 12 months
Term Loan: Maximum Door to Door repayment shall be 10 years including moratorium period not exceeding 36 months. Repayment can be in monthly / quarterly installments. Interest shall be recovered separately.
|Composite /loan Limit
|20% (Working capital as well as Term Loan)