Purpose of Loan:
To meet working capital requirement.
Individual/ Proprietorship/Partnership/Company engaged in Wholesale/Retail trade, Distributors/commission Agents /C&F Agents/Professionals/Small Business/Civil/Govt contractors etc.
Quantum of loan:
Maximum Rs. 10 lakhs or 50% of value of property to be mortgaged (whichever is less.)
Rate of Interest:
Interest rate for Ratna Trade is at PLR.
Period of facility
1 year ( if operations / performance is satisfactory renewable on annual basis) )
Equitable Mortgage /Registered Mortgage of property in the name and possession of the borrower. Property in the name of spouse may be accepted as security by making the owner either co-borrower /Guarantor (Agriculture land, Non-N.A land should not be accepted.
Minimum 50% of value of the property.
Rs 150/- per lakh or part thereof.
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