|Purpose||i. Project finance to Builders / Developers for construction of Residential / Commercial building.
ii. Finance for infusing funds in the project by Promoters.
|Eligibility||Individuals, Sole Proprietary Concern, Partnership Firms, Limited Companies.|
|Maximum Loan Amount||Maximum- ₹ 800.00 lakhs [₹ Eight Crores only] per Party subject to RBI Credit Policy & Bank’s exposure Norms.|
|Repayment Period||As per duration of the Project subject to maximum of 5 years [60 Months]|
|Rate of Interest||10.70% onwards|
|Security||Mortgage of Immovable Property, other than Project Land, having market value of minimum 200% of the Credit limit.|
|Guarantators||Two Guarantors acceptable to Bank having Means & income.|
|Collaterals||For Finance to Builders & Developers:
Credit facility should not be utilized for acquisition of land even as a part of Housing project.
|Processing Charge||0.20% to 0.50 %|
|Subscription of Bank's Share||2.5% Max Rs.5.00 lacs|
Terms & Conditions Apply.
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