Purpose – To promote sustainable livelihood in rural areas by way of providing credit support for construction of new structures for the purpose of accommodation of tourists, Credit support for expansion and repair or renovation of existing accommodation etc,
Eligibility – Individuals, Associations of service providers in cluster, NGOs/Voluntary agencies/PRIs, Cooperative Societies, Public Bodies, Housing Boards or Development Authorities etc.
Quantum of Loan – up to Rs. 15.00 lakh for new construction, for expansion, repairs and renovation of existing accommodation loan offered is up to Rs. 10.00 lakh; for working capital requirements loan offered is maximum Rs. 3.00 lakh; loan assistance may be for a repayment period of 3 to 15 years, loan installments to be payable in monthly, quarterly, half-yearly, annual installments, Moratorium of 6 to 18 months from the date of disbursement.
Rate of Interest – for loans up to Rs.2 lakh is 11.50% p. a, above Rs. 2 lakh the interest rate is 13.50% p.a.
Security – Collateral security having value of at least 200% of the loan amount, including the property for which finance is provided;
Bank is having Tie-up arrangement with 166 Companies or Corporates providing personal loan, House Building Loans, Vehicle Loans & Educational Loans.