Purpose – For purchase of Machines, Vehicles of all types, Office equipments etc for business use and construction/repair/renovation or purchase of factory land and building or office premises
Eligibility – Any member of the Bank engage in any type of trade or services or profession.
Nature of facility – Term Loan
Securities (Primary) – Hypothecation of assets purchased out of bank finance. In case of finance for construction/repair/renovation of building, mortgage of the relevant property or any other suitable security acceptable to the bank, if the relevant property is not found to be suitable by the Bank.
Collateral Security – As per merit of each case by way of mortgage of immovable property or charging of any other security acceptable to the bank
Sureties – At least two sureties, subject to satisfaction of bank
Period – Repayable within a maximum period of 120 months; CEO is authorized to relax the period of repayment on merits of individual case.
Rate of Interest – As per Bank’s guidelines from time to time, Levy of penal interest for non compliance of terms of sanction, as per bank’s rules
Insurance – All primary and collateral securities are to be adequately and comprehensively insured with Bank’s clause at party’s cost.
The bank also offers financial assistance to people in the form of loans such as home loan, personal loan, educational loan, car loan etc