|Eligibility||Individuals, Professionals and Self employed people, firms (registered partnership firms, companies) and businessmen.
The applicant should have been in the activity for a minimum period of 3 years
|Amount of Loan||Maximum loan Rs.50.00 lacs|
|Margin||25% on the cost of property|
|Interest Rates||Please see the interest rate link on the home page|
|Repayment||Maximum 120 months including moratorium period|
|Security||* EM on commercial property to be acquired |
* Personal guarantee of partners / directors in individual capacity
* Security to include third party guarantee having NW not less than loan amount in case of individual borrowers, in cases where margin available is 25%. In case margin is maintained at minimum 40%, third party guarantee not to be insisted. Eligible accounts to be covered under CGTMSE scheme and no third party guarantee to be taken for such accounts.
* No collateral / third party guarantee to be taken for loans upto Rs.10 lac to MSME borrowers and accounts to be covered under CGS of CGTMSE
|Salient Features||To purchase new commercial space / shop and also second hand purchase provided the residual life of commercial space is not less than actual repayment period plus 2 years, and / or fresh construction, renovation of the business premises.|