Purpose of Loan:
To purchase equipments / repairs / renovation to existing equipment, purchase of tools, working capital requirements, acquiring / repairing business premises.
Doctors, Dentists, Chartered Accountants, Cost accountants, Lawyers, Solicitors, Engineers, Architects, Surveyors, Construction contractors or Management Consultants or to a person trained / qualified / skilled in the chosen vocation / field in which employed, "the bank extends finance under its own facilities and even under the Govt. sponsored schemes.
Quantum of Loan:
Depending upon the assessed requirement considering financial viability, repayment capacity etc.
Generally 25%, which can vary according to requirement and assessment.
Repayment of EMI:
From short term to period generally ranging up to 5 years.
1% of the loan for amount above Rs.25,000/-.
Assets created by the Loan to be charged to the bank and other collateral security.
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