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IB MY OWN SHOP

IB MY OWN SHOP

Particulars Guidelines
Target Group All Micro, Small & Medium Enterprises (MSME).

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

Applicant should not be more than 50 years of age at the time of availing the facility

Purpose 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.
Types of Facility Term Loan
Loan Amount Maximum Loan amount – Rs.10.00 Crores, limit based on constitution.
Margin (Promoter’s contribution) Minimum 25% on the cost of property
Security EM on commercial property to be acquired

Personal guarantee of partners / directors in individual capacity

CGTMSE Coverage to be obtained for all eligible accounts.

Repayment terms Maximum 120 months including moratorium period
Processing & other charges Processing Charges:  0.60% of loan amount

All other charges are at Card Rate.

Apply for loan (Click Here)

( Last modified on Sep 30, 2021 at 12:09:26 PM )

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