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 period	6 / 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.