IB MY OWN SHOP
|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
|Repayment terms||As per MSME Policy of the Bank|
|Processing & other charges||Processing Charges: 0.60% of loan amount
All other charges are at Card Rate.
( Last modified on Apr 22, 2022 at 07:04:03 PM )