Indian Bank - Doctor Plus
Target segment :
* Individuals/Partnership/Ltd.Co./Trust.
* Promoters should have minimum MBBS/BAMS/BDS/BHMS & registered practitioners.
* Key promoters should be qualified doctors.
Purpose:
To finance qualified medical practitioners for
* Buying equipment
* Setting up clinic or clinic-cum-residence or nursing homes
* Setting up Xray lab, pathological clinics, polyclinics
* Setting up Drug/Medical Stores
* Purchase of vehicles, ambulance, computers
* Expansion/renovation/Modernisation of existing premises
* Any other activities related to medical profession
Note:The above activities can be taken individually or as a combination also.
Loan amount
* Minimum Rs.1.00 lakh
* Maximum Rs.50.00 lakhs
Margin
Loan slab Urban & Metro Semi-urban & Rural
Upto Rs. 5 lakhs 10% 15%
Over Rs. 5 lakhs 20% 15%
Repayment Period
* Maximum period up to 10 years.
* Maximum moratorium 3 months.
Security :
Loan upto Rs. 1.00 Lakh: No security except to the extent of Assets created out of loan amount.
Loans above Rs. 1.00 Lakh: Hypothecation of assets + LIC Policy in the name of the borrower to be taken and assigned in Bank’s favour to the extent of shortfall of security coverage or Collateral Security.
Insurance
* Insurance of assets purchased out of Bank Loan and in respect of vehicles,comprehensive insurance as laid down
Processing charges:
* Upto Rs.10,00,000: Nil for the first time borrowers
* Above Rs.10,00,000 : Rs.250/- per lakh or part thereof
Rate of Interest (Applicable with montly rest) Working Capital/ Term loan
Working Capital Term Loan
9.50 % 9.50 %
Penal interest : 2% on delayed payment of instalments.
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Friday, January 23, 2009
Indian Bank Shanti Niketan Loan Scheme
IB-Shanthi Niketan - A new loan scheme for financing of Hostels
Target segment
* Registered Trust/NGO/Individual owning Property/registered firms/schools and colleges/HUFs/Individuals running 'paying guest' facility.
* Preference to be given to Females for running working women hostel or student hostel for girls.
Purpose
1. Extension/renovation of hostel for working women/men/students(school/college).Capacity of the hostel could range from 5 rooms to 60
rooms.
2. For furnishing the living rooms, common room and office like for purchasing beds,study tables, chairs, fans, curtains, mattresses etc.
3. For Purchasing kitchen items like chimney, gas strove, refrigerator etc.
4. For purchasing computer, computer peripherals and modem for internet connectivity for the office use/ commercial purpose in the hostel premises.
5. Working Capital.
Extent of Finance
Rs 2 lakhs (minimum) to Rs 25 lakhs (Maximum)
Margin
Term Loan – 10 %
Working Capital – 25%
Repayment Period
36 months to 60 months. EMI based on cash flow
Interest
Term Loan- 12.50 %
Working Capital – 12.00 %
(0.5% lesser interest rate for borrowers who are
women entrepreneurs.)shall be charged.
Security
Equitable mortgage of the land & building in case of selfowned property. In case of property on lease an additional security by way of any other property of equivalent value of loan to be taken.
• Hypothecation of asset financed, personal
guarantees of the promoters is to be insisted.
• Third party guarantee is preferable.
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Target segment
* Registered Trust/NGO/Individual owning Property/registered firms/schools and colleges/HUFs/Individuals running 'paying guest' facility.
* Preference to be given to Females for running working women hostel or student hostel for girls.
Purpose
1. Extension/renovation of hostel for working women/men/students(school/college).Capacity of the hostel could range from 5 rooms to 60
rooms.
2. For furnishing the living rooms, common room and office like for purchasing beds,study tables, chairs, fans, curtains, mattresses etc.
3. For Purchasing kitchen items like chimney, gas strove, refrigerator etc.
4. For purchasing computer, computer peripherals and modem for internet connectivity for the office use/ commercial purpose in the hostel premises.
5. Working Capital.
Extent of Finance
Rs 2 lakhs (minimum) to Rs 25 lakhs (Maximum)
Margin
Term Loan – 10 %
Working Capital – 25%
Repayment Period
36 months to 60 months. EMI based on cash flow
Interest
Term Loan- 12.50 %
Working Capital – 12.00 %
(0.5% lesser interest rate for borrowers who are
women entrepreneurs.)shall be charged.
Security
Equitable mortgage of the land & building in case of selfowned property. In case of property on lease an additional security by way of any other property of equivalent value of loan to be taken.
• Hypothecation of asset financed, personal
guarantees of the promoters is to be insisted.
• Third party guarantee is preferable.
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Indian Bank Annapoorna and Aroghya Scheme
Indian Bank Annapoorna and Aroghya Scheme
Target Group
Mid sized Hotels/Restaurants/Food joints/Bakeries/Fast Food outlets catering to the growing "Middle Class" segment of the population
Motels/Highway Inns/Restaurants/Kiosks/Mess/ Canteens and Tea Stalls located within 6 to 7 Km radius from the branch, which are catering to "commuters on the highways"
Caterers of all kinds who supply food to schools/colleges or for domestic functions like Birthdays, Marriages, parties etc. and staff canteen in established organisations.
Refreshment stalls in Railway stations/Bus stations/
Fast food centres situated in important Tourism centres, Temple towns, National Highways (in places like Ooty, Simla, Kodaikanal, Agra, Kancheepuram, Madurai, Tirupati, Shirdi, Mathura etc.)
Borrowers shall preferably be running/having existing units with the potential to improve/expand the existing business.
New entrepreneurs with requisite technical back up such as "Diploma/Degree in catering technology" with minimum of 3 years experience in hospitality industry/hotel industry in Metro Cities shall also be considered.
Purpose
The purpose of the loan shall be:
# Renovation of the premises, viz., refurnishing, carrying out major repairs in civil structure, interior design/decoration, replacing the old furniture/kitchen equipments.
# Installation of/replacing AC/Air cooler systems, freezers, Exhaust fans, Van/Tempo, purchase of delivery tri-cycles etc.
# For taking up "franchise selling" of branded eatables/ice-cream/"Fast Food"/Pizzas/Bakery Products/"Amul"/"Arun"
# For purchase of hot packs, installation of Acqua Guard System, Utensils, serving trays, tumblers, crockeries etc.
# For provision of musical system/musical instruments in the hotel premises
# For setting up of Bar-Restaurants
# For financing premises to be acquired on lease basis for setting up new hotels. Loan for rent advance upto a maximum of Rs.2.00 lakhs shall also be considered. This is to encourage Diploma/degree holders in Hotel Management/Catering Technology
Eligibility
* Units in own premises/Units in leased premises with un-expired lease covering the repayment period.
* Units having licence to conduct Hotel business/Catering from Municipal/Local Administration
Quantum of Loan:
Need based assessment keeping in view the existing turnover and the projected turnover. The per borrower cap/ceiling shall be as follows:
Location Maximum Amount:
Units in Urban Centres Rs.15 Lakhs
(Term Loan Rs.10 lakhs & Working Capital Rs.5 lakhs)
Units in Metros Rs.25 Lakhs
Loan amount shall be linked to "Major Capital" expenditure proposed after deducing the margin/owner's contribution
Margin on loan :
Purpose : For creation of assets viz., standard equipments such as Refrigerators/AC systems/Air Coolers etc.
Margin : 15%
Purpose : For Franchisee, Fees/Advance money payments
Margin : 15%
Purpose : For all other items/renovation/starting New Venture
Margin : 15%
Interest rate :
* 11.50 % floating - For Working Capital
* 12.00 % floating - For Term loan
In case of loans given to Women entrepreneurs holding Diploma/Degree in Hotel Management/ Catering Technology the rate of interest shall be reduced by 1.0% (from the date of advance) at the end of the repayment period if the account is repaid promptly.
Repayment :
Based on the "income/surplus" projected subject to a maximum period of 5 years inclusive of a holiday period not exceeding 3 months.
Processing Charges :
One time processing charge of Rs.250/- per lakh or part thereof for loan limits above Rs.2 lakhs.
Additional Security and Third Party Guarantee.
In addition to the hypothecation of the assets including assets created out of bank loan, additional security by way of EM of immovable property such as the "premises of Hotel Unit" or in case that is not possible any other property, the marketable value of which may not be less than 100% of the loan amount.
In case third party properties are offered, Guarantee of the third party shall also be obtained.
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Target Group
Mid sized Hotels/Restaurants/Food joints/Bakeries/Fast Food outlets catering to the growing "Middle Class" segment of the population
Motels/Highway Inns/Restaurants/Kiosks/Mess/ Canteens and Tea Stalls located within 6 to 7 Km radius from the branch, which are catering to "commuters on the highways"
Caterers of all kinds who supply food to schools/colleges or for domestic functions like Birthdays, Marriages, parties etc. and staff canteen in established organisations.
Refreshment stalls in Railway stations/Bus stations/
Fast food centres situated in important Tourism centres, Temple towns, National Highways (in places like Ooty, Simla, Kodaikanal, Agra, Kancheepuram, Madurai, Tirupati, Shirdi, Mathura etc.)
Borrowers shall preferably be running/having existing units with the potential to improve/expand the existing business.
New entrepreneurs with requisite technical back up such as "Diploma/Degree in catering technology" with minimum of 3 years experience in hospitality industry/hotel industry in Metro Cities shall also be considered.
Purpose
The purpose of the loan shall be:
# Renovation of the premises, viz., refurnishing, carrying out major repairs in civil structure, interior design/decoration, replacing the old furniture/kitchen equipments.
# Installation of/replacing AC/Air cooler systems, freezers, Exhaust fans, Van/Tempo, purchase of delivery tri-cycles etc.
# For taking up "franchise selling" of branded eatables/ice-cream/"Fast Food"/Pizzas/Bakery Products/"Amul"/"Arun"
# For purchase of hot packs, installation of Acqua Guard System, Utensils, serving trays, tumblers, crockeries etc.
# For provision of musical system/musical instruments in the hotel premises
# For setting up of Bar-Restaurants
# For financing premises to be acquired on lease basis for setting up new hotels. Loan for rent advance upto a maximum of Rs.2.00 lakhs shall also be considered. This is to encourage Diploma/degree holders in Hotel Management/Catering Technology
Eligibility
* Units in own premises/Units in leased premises with un-expired lease covering the repayment period.
* Units having licence to conduct Hotel business/Catering from Municipal/Local Administration
Quantum of Loan:
Need based assessment keeping in view the existing turnover and the projected turnover. The per borrower cap/ceiling shall be as follows:
Location Maximum Amount:
Units in Urban Centres Rs.15 Lakhs
(Term Loan Rs.10 lakhs & Working Capital Rs.5 lakhs)
Units in Metros Rs.25 Lakhs
Loan amount shall be linked to "Major Capital" expenditure proposed after deducing the margin/owner's contribution
Margin on loan :
Purpose : For creation of assets viz., standard equipments such as Refrigerators/AC systems/Air Coolers etc.
Margin : 15%
Purpose : For Franchisee, Fees/Advance money payments
Margin : 15%
Purpose : For all other items/renovation/starting New Venture
Margin : 15%
Interest rate :
* 11.50 % floating - For Working Capital
* 12.00 % floating - For Term loan
In case of loans given to Women entrepreneurs holding Diploma/Degree in Hotel Management/ Catering Technology the rate of interest shall be reduced by 1.0% (from the date of advance) at the end of the repayment period if the account is repaid promptly.
Repayment :
Based on the "income/surplus" projected subject to a maximum period of 5 years inclusive of a holiday period not exceeding 3 months.
Processing Charges :
One time processing charge of Rs.250/- per lakh or part thereof for loan limits above Rs.2 lakhs.
Additional Security and Third Party Guarantee.
In addition to the hypothecation of the assets including assets created out of bank loan, additional security by way of EM of immovable property such as the "premises of Hotel Unit" or in case that is not possible any other property, the marketable value of which may not be less than 100% of the loan amount.
In case third party properties are offered, Guarantee of the third party shall also be obtained.
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IB Jala Nidhi Scheme
Indian Bank Jalanidhi Loan Scheme
Apply Jala nidhi Loan Online
Target Group
Existing Flat / House / Office Commercial Establishment Premises Owners
Purpose
For establishing rain water harvesting structure
Quantum of Loan
Max. Rs. One lakh
Margin on loan
* NIL up to Rs.25,000
* 20% for loans above Rs.25,000
Interest Rate - Floating
Category Rate of Interest
Agriculturists 9.00% (Fixed) *
Others 10.00% (Fixed) *
* Presetly BPLR 11%
EMI Rs.465.96 for Sr.10,000/- for 24 months
Repayment
Category Period of repayment
Agriculturists 4 half-yearly instalments
Non Agriculturists 24 EMI
EMI for 24 months for every 10,000/- - Rs. 465.96
Loan Amount : Upto Rs.2500
Security : Pledge of LIC Policies/NSCs/ Indhra Vikas Patra/ Government Bonds - worth 100% Value
Loan Amount : Above Rs.25000
Pledge of LIC Policies/NSCs/ Indhra Vikas Patra/ Government Bonds - 100% Value or EM of Property - worth 100% Value
Other conditions
* 40% take home pay for salaried/40% of gross income for others to be maintained after recovery of proposed EMI.
* Property tax receipt to be produced in proof of ownership of the applicant.
* In case of loans for flats, if by-laws of the Flat Owners' Association / Society permit availment of loan, loan can be sanctioned in the name of the Association/ Society with guarantees (@125% of the proportionate share in the total loan amount) from all the flat owners
List of Focus Branches for Jala Nidhi Loan Scheme
Name of the Circle
Chennai
Coimbatore
Cuddalore
Dharmapuri
Kancheepuram
Kumbakonam
Madurai
Pondicherry
Salem
Thanjavur
Tirunelveli
Trichy
Vellore
Name of the Branch
1. Kumbakonam
2. Mannargudi
3. Mayiladuthurai
4. Thiruthuraipoondi
5. Tiruvarur
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Apply Jala nidhi Loan Online
Target Group
Existing Flat / House / Office Commercial Establishment Premises Owners
Purpose
For establishing rain water harvesting structure
Quantum of Loan
Max. Rs. One lakh
Margin on loan
* NIL up to Rs.25,000
* 20% for loans above Rs.25,000
Interest Rate - Floating
Category Rate of Interest
Agriculturists 9.00% (Fixed) *
Others 10.00% (Fixed) *
* Presetly BPLR 11%
EMI Rs.465.96 for Sr.10,000/- for 24 months
Repayment
Category Period of repayment
Agriculturists 4 half-yearly instalments
Non Agriculturists 24 EMI
EMI for 24 months for every 10,000/- - Rs. 465.96
Loan Amount : Upto Rs.2500
Security : Pledge of LIC Policies/NSCs/ Indhra Vikas Patra/ Government Bonds - worth 100% Value
Loan Amount : Above Rs.25000
Pledge of LIC Policies/NSCs/ Indhra Vikas Patra/ Government Bonds - 100% Value or EM of Property - worth 100% Value
Other conditions
* 40% take home pay for salaried/40% of gross income for others to be maintained after recovery of proposed EMI.
* Property tax receipt to be produced in proof of ownership of the applicant.
* In case of loans for flats, if by-laws of the Flat Owners' Association / Society permit availment of loan, loan can be sanctioned in the name of the Association/ Society with guarantees (@125% of the proportionate share in the total loan amount) from all the flat owners
List of Focus Branches for Jala Nidhi Loan Scheme
Name of the Circle
Chennai
Coimbatore
Cuddalore
Dharmapuri
Kancheepuram
Kumbakonam
Madurai
Pondicherry
Salem
Thanjavur
Tirunelveli
Trichy
Vellore
Name of the Branch
1. Kumbakonam
2. Mannargudi
3. Mayiladuthurai
4. Thiruthuraipoondi
5. Tiruvarur
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IB Loan For Purchase of Van/ Bus By Eduacational Institutions
Loan for Purchase of Van/Bus by Educational Institutions
Purpose
Purchase of New Vehicles and second hand vehicles not more than 5 years old by reputed Educational Institutions with sound financials and smooth cash flow
Interest rate w.e.f 10.11.2008
BPLR + TP + 0.50% i.e. 14.25% floating
Eligible Amount
Max. : Rs.10 lakh for bus with capacity of 45 (approx.)
Max. : Rs. 7 lakh with 21 seater capacity
Max. : Rs. 5 lakh, if it is Mahindra Van
Margin
For new vehicles: 20% on the cost of vehicle
For Second Hand Vehicle: Additional Margin of 5% for each year to be brought in by the applicant according to age of the vehicle. (e.g. if a vehicle is 4 years old, with 20% extra margin( i.e. 5% x 4) the total margin will be 40%)
Repayment
* Repayment in 60 equated monthly instalments (EMI of Rs. 222.16 for Rs. 10,000/-)
Service charges
1.15% on limit sanctioned
Security
Hypothecation of vehicle to be purchased
Insurance
Vehicle to be insured and policy to be renewed annually with bank Clause at Borrower's cost
Lien
Bank's lien should be noted in RC Book
Other conditions
* Documents to be taken as per documentation manual as applicable for Vehicle Loan.
* Educational Institution to maintain a Current Account with the Branch at which the loan is disbursed and all their fee collections and other income to be routed through the account.
* Amount should be disbursed by a crossed DD /BPO direct to the authorised dealer.
* Wherever collateral security / guarantee is available, and if considered necessary by the Sanctioning Authority, a suitable condition may be stipulated at his discretion.
* If second hand vehicle is financed, collateral security or suitable personal guarantee to be insisted upon.
* Repayment capacity to be verified through Cash Flows and Income / Expenditure Statements of the School. Loans to be extended only in respect of Educational Institutions where the salary payment to the staff / teachers is regular and upto date and the cash flows of the Educational Institutions permit such repayment.
* In case of Educational Institutions having borrowing facilities with other Banks, satisfactory credit Reports must be obtained.
In the case of second hand vehicles :
* The road-worthiness and valuation should be vouched by an Automobile Engineer / Valuer.
* Loan quantum will be based on the value as above with additional margin of 5% for each year to be brought in by the applicant according to age of the vehicle.
* The Track Record of insurance claims of the past should be verified to ensure that the vehicle has not met with any major accident in the past.
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Purpose
Purchase of New Vehicles and second hand vehicles not more than 5 years old by reputed Educational Institutions with sound financials and smooth cash flow
Interest rate w.e.f 10.11.2008
BPLR + TP + 0.50% i.e. 14.25% floating
Eligible Amount
Max. : Rs.10 lakh for bus with capacity of 45 (approx.)
Max. : Rs. 7 lakh with 21 seater capacity
Max. : Rs. 5 lakh, if it is Mahindra Van
Margin
For new vehicles: 20% on the cost of vehicle
For Second Hand Vehicle: Additional Margin of 5% for each year to be brought in by the applicant according to age of the vehicle. (e.g. if a vehicle is 4 years old, with 20% extra margin( i.e. 5% x 4) the total margin will be 40%)
Repayment
* Repayment in 60 equated monthly instalments (EMI of Rs. 222.16 for Rs. 10,000/-)
Service charges
1.15% on limit sanctioned
Security
Hypothecation of vehicle to be purchased
Insurance
Vehicle to be insured and policy to be renewed annually with bank Clause at Borrower's cost
Lien
Bank's lien should be noted in RC Book
Other conditions
* Documents to be taken as per documentation manual as applicable for Vehicle Loan.
* Educational Institution to maintain a Current Account with the Branch at which the loan is disbursed and all their fee collections and other income to be routed through the account.
* Amount should be disbursed by a crossed DD /BPO direct to the authorised dealer.
* Wherever collateral security / guarantee is available, and if considered necessary by the Sanctioning Authority, a suitable condition may be stipulated at his discretion.
* If second hand vehicle is financed, collateral security or suitable personal guarantee to be insisted upon.
* Repayment capacity to be verified through Cash Flows and Income / Expenditure Statements of the School. Loans to be extended only in respect of Educational Institutions where the salary payment to the staff / teachers is regular and upto date and the cash flows of the Educational Institutions permit such repayment.
* In case of Educational Institutions having borrowing facilities with other Banks, satisfactory credit Reports must be obtained.
In the case of second hand vehicles :
* The road-worthiness and valuation should be vouched by an Automobile Engineer / Valuer.
* Loan quantum will be based on the value as above with additional margin of 5% for each year to be brought in by the applicant according to age of the vehicle.
* The Track Record of insurance claims of the past should be verified to ensure that the vehicle has not met with any major accident in the past.
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IB Pensioners Loan Scheme
Indian Bank PENSIONERS LOAN SCHEME :
Eligibility/Target Group
Central & State Pensioners, Family Pensioners, Re-employed Pensioners, IB Retirees under VRS
Purpose
Expenses towards Medical, Education, Family function, Domestic function
Quantum of Loan
10 months pension with a maximum of Rs.60,000/-
Rate of Interest w.e.f 10.11.2008
BPLR minus 0.50% i.e. 12.75 % floating
Repayment
24 months including interest (30 EMI on a case to case basis)
Margin - Nil
Security
* Authorisation to recover from pension
* Undertaking from legal heir/nominee
* Pensioners' PPO
* Intimation to PPA
Service Charges
Rs 250/- if loan amount is more than Rs 25,000/-
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Eligibility/Target Group
Central & State Pensioners, Family Pensioners, Re-employed Pensioners, IB Retirees under VRS
Purpose
Expenses towards Medical, Education, Family function, Domestic function
Quantum of Loan
10 months pension with a maximum of Rs.60,000/-
Rate of Interest w.e.f 10.11.2008
BPLR minus 0.50% i.e. 12.75 % floating
Repayment
24 months including interest (30 EMI on a case to case basis)
Margin - Nil
Security
* Authorisation to recover from pension
* Undertaking from legal heir/nominee
* Pensioners' PPO
* Intimation to PPA
Service Charges
Rs 250/- if loan amount is more than Rs 25,000/-
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Indian Bank Trade Finance Scheme
IB - Trade Finance
Indian Bank has been financing Wholesale & Retail Trade through various schemes.
Recognizing the growing importance of Trade Sector in the economy and need for bank finance in this regard, the Bank has come out with new flexible scheme of financing trade.
Salient features of the Scheme "TRADE WELL"
Target Group
Wholesale and Retail Traders with 4 to 5 years of satisfactory track record
Purpose
Working capital needs of stock in trade, receivables/infrastructure
Term Loan:
* Showcases, Basic Office amenities like Computer Hardware
* Furniture layout for storage/display of goods traded, cold storage facilities
* Neon Lighting, Hoarding, Display panels
* Billing Equipment, Safety Equipment etc.
* Front elevation and beautification of layout
* Other facilities aimed at Customer convenience like Air-conditioning, purchase of Delivery Van, Trolley etc.
Eligible Amount
Scheme I
Secured OD upto Rs.10 lakh
Security
security for Scheme I:
Against immovabale property, NSC, KVP, IVP
(The securities viz., immovabale property, NSC, KVP, IVP
lodged for the full limit has to be retained with the Bank till complete adjustment of the facility)
Collateral : stocks in trade
Personal Guarantee of Directors for loans to Private and Public Ltd. companies
Scheme II
OCC Above Rs.10 lakhs upto Rs.100 lakh
SEcurity for Scheme II:
Primary: Against Stocks and Book Debts
Collateral: 100% of OCC limit in terms of value of Immovable property, NSC/ KVP/ IVP/Agricutural Land.
Personal Guarantee of Directors for loans to Private and Public Ltd. companies.
Term Loan:
Max. upto Rs.10 lakh
Security for Term Loan:
Hypothecation of items purchased/infrastructure created, Collateral 100%.
Personal Guarantee of Directors for loans to Private and Public Ltd. companies
Interest rate on working capital:BPLR Presently12.50%
Interest rate on Term Loan:BPLR+TP Presently 13.30%
Margin
I Working Capital:
For limits upto Rs.10 lakh:
Immovable Property - 33%
NSC/KVP/IVP etc. - 10%
Agricultural Land - 50%
For limits above Rs.10 lakh and upto Rs.100 lakh:
Primary Security - 15% on paid stocks/book debts (90 days)
Collateral Security - 100%
II Term Loan: 20%
Repayment:
Term Loan: Repayable in 48 equated monthly instalments
Service Charges: Rs.250/- per lakh or part thereof
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Indian Bank has been financing Wholesale & Retail Trade through various schemes.
Recognizing the growing importance of Trade Sector in the economy and need for bank finance in this regard, the Bank has come out with new flexible scheme of financing trade.
Salient features of the Scheme "TRADE WELL"
Target Group
Wholesale and Retail Traders with 4 to 5 years of satisfactory track record
Purpose
Working capital needs of stock in trade, receivables/infrastructure
Term Loan:
* Showcases, Basic Office amenities like Computer Hardware
* Furniture layout for storage/display of goods traded, cold storage facilities
* Neon Lighting, Hoarding, Display panels
* Billing Equipment, Safety Equipment etc.
* Front elevation and beautification of layout
* Other facilities aimed at Customer convenience like Air-conditioning, purchase of Delivery Van, Trolley etc.
Eligible Amount
Scheme I
Secured OD upto Rs.10 lakh
Security
security for Scheme I:
Against immovabale property, NSC, KVP, IVP
(The securities viz., immovabale property, NSC, KVP, IVP
lodged for the full limit has to be retained with the Bank till complete adjustment of the facility)
Collateral : stocks in trade
Personal Guarantee of Directors for loans to Private and Public Ltd. companies
Scheme II
OCC Above Rs.10 lakhs upto Rs.100 lakh
SEcurity for Scheme II:
Primary: Against Stocks and Book Debts
Collateral: 100% of OCC limit in terms of value of Immovable property, NSC/ KVP/ IVP/Agricutural Land.
Personal Guarantee of Directors for loans to Private and Public Ltd. companies.
Term Loan:
Max. upto Rs.10 lakh
Security for Term Loan:
Hypothecation of items purchased/infrastructure created, Collateral 100%.
Personal Guarantee of Directors for loans to Private and Public Ltd. companies
Interest rate on working capital:BPLR Presently12.50%
Interest rate on Term Loan:BPLR+TP Presently 13.30%
Margin
I Working Capital:
For limits upto Rs.10 lakh:
Immovable Property - 33%
NSC/KVP/IVP etc. - 10%
Agricultural Land - 50%
For limits above Rs.10 lakh and upto Rs.100 lakh:
Primary Security - 15% on paid stocks/book debts (90 days)
Collateral Security - 100%
II Term Loan: 20%
Repayment:
Term Loan: Repayable in 48 equated monthly instalments
Service Charges: Rs.250/- per lakh or part thereof
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