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IND COVID KCC SAHAYA LOAN (ICKSL)

IND COVID KCC SAHAYA LOAN (ICKSL)

Applicability

  • Existing KCC Borrowers

Eligibility

  • All existing KCC accounts should be in “Standard” category but not in SMA 1 / SMA 2 at the time of sanction

Purpose

  • To meet the temporary liquidity mismatch due to outbreak of COVID-19 disease.

Loan Amount

  • 10% of existing KCC limits subject to a minimum limit of Rs.5000/- and maximum limit of Rs.1.00 lakh. If higher limits are required based on higher acreage then it may be taken up with ZO.

Rate of Interest

  • MCLR 1 Year   (Floating)

Period

  • 6 Half Yearly Installments

Security

  • Existing Primary, Collateral Security and personal guarantees to be extended for this facility

Processing Charges & other charges

  • NIL

Validity

  • Scheme is valid upto 30.09.2020.

Other details

Acceptable Mode of Submission of Request for Credit facility By E Mail / In-Person to the Branch /

Through Bank Mitra / FBC

Documents required Duly filled in Application form
Helpline Numbers & Email ID for queries, facilitations and Grievances. Mobile: +917305898992 / +919931094920

Email: ibcovidresponse@indianbank.co.in

Timeline for appraisal, sanction, documentation / disbursement Within 6 working days from the date of receipt of application by Branch.
Frequently Asked Questions (FAQs) Click here for FAQs about IND COVID KCC SAHAYA LOAN

( Last modified on May 16, 2020 at 05:05:20 PM )