Loan for Construction of Shopping Complex

Type of loan	Long term loan – Non-agriculture.
Method of Repayment	Non-EMI
Purpose	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.
Margin	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.
Charges	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.
Subsidy/Re-finance	Yes.
Security	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