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Loan for Industrial Purpose

Type of loan
Long term loan – Non-agriculture.
Method of Repayment
Non-EMI
Purpose   
Industrial Purpose (self employment).
Eligibility criteria
Individuals  &  Institutions.
Scale of finance
Not applicable.
Limit of loan
According to the project.
Margin
Project based
Holiday period6 / 12 months (Interest is to be remitted in holiday period)
Repayment period
As per project
Rate of interest As per interest structure. applicable.
Penal Interest 2% for overdue installments. When the loan becomes fully overdue 2% of additional interest on contract rate is charged.
Charges
1)   Up to 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
Personal Surety and Mortgage security. 

Personal surety - Upto one lakh only. Insurance policy in the joint name of bank should be submitted to bank.

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