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Loan for Construction of Shopping Complex

Type of loan
Long term loan – Non-agriculture.
Method of Repayment
Construction of shopping / housing complex
Eligibility criteria
Individuals, Institutions and companies.
Scale of finance    
Not applicable.
Limit of loan Rs:3 Crore or 2/3rd of estimated cost whichever is less.
1/3rd of estimated cost.
Holiday period
Depends on project
Repayment period Depends on project
Rate of interest
As per interest structure.
Penal Interest 2% for overdue installments. When the loan becomes Fully overdue 2% of additional interest on contract rate is Charged.
1)   Upto 50000 service charge is collected @ 0.25% of total   Loan amount sanctioned. Above 50000 it is  @ 0.5%.this Is credited under the head HO Miscellaneous Income.
2)   Risk fund @ 0.25% of loan amount is collected from the Loanee with a minimum of Rs: 100 and a maximum of Rs:525. Risk fund collected is kept under Suspense Liability and once in a month transferred to HO.
Mortgage security.

Insurance policy for the estimate amount should be submitted.

Disbursement according to the Debt Equity Ratio. Drawal is permitted on production of utilization certificate from a civil engineer

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