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Loan Details
Overdraft Against Property / Term Loan Against Property
Flexible financing solutions for business and personal financial requirements.
Purpose
- Overdraft: Business purpose/ Any other personal commitment purpose
- Term Loan:
- Business purpose Business purpose/ Any other personal commitment purpose.
- Purchase of asset (commercial) – end use shall be ensured.
- Any other purpose.
Quantum of Loan / Amount
- ODAP: Up to Rs.1000 lakhs (other than salaried individuals)
- TLAP: Up to Rs.1000.00 lakhs
Note
Advance upto Rs.1100.00 lakhs (Maximum Individual Exposure) and to Rs.2000.00 lakhs (maintain Maximum Group Exposure).
ROI
For ODAP / TLAP:-
10% p.a
700 to above 800 / CMR 1,2,3
11% p.a
Above 650 to 700 / CMR – 4,5
Any correction for above norms will at the discretion of the board.
Documents / Income Proof
- Financial statements for minimum last 3 years
- ITR with computation of Income for at least last 3 years
- Bank Account statement for last 6 months.
- Documents for creating mortgage as per list provided by bank
- Self-Declaration for Asset Liability to be obtained duly verified by branch
Security
- Equitable/Legal/registered Mortgage of property
Surety
- One guarantor to be accepted (Terms & Conditions apply)
Tenure / Repayment
- ODAP: For Working Capital requirements: To be reassessed annually
- Term loan: Maximum 10 years with moratorium, if any required.
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