Terms & Conditions

• To avail of a term loan, a DP note, letter of hypothecation of the machinery/ mortgage of land, factory or building has to be submitted to the bank.
  
  
• For generating working capital, a DP Note with letter of hypothecation of stocks/book debts, a letter of continuing security has to be submitted to the bank.
  
  
• The interest rate will be at the bank's prime lending rate up to a loan amount of Rs. 2 Lakhs.
  
  
• Above Rs. 2 Lakhs, the rate will be 4% over the bank's prime lending rate.
  
  
• All the accounts rated as A+, will be eligible for a loan at finer interest rates.
  
  
• The processing and documentation charges to be levied will be as under:
  
  

  Processing Charges	(only once at the time of sanction)
  	Upto Rs. 2 Lacs	0.5% - Min. Rs. 250/-
  	Above Rs. 2 Lacs & upto Rs.1Crore	0.25% - Min.Rs.1,000/-
  Documentation Charges	Upto Rs.25,000/-	Nil
  	Above Rs.25,000/- & upto Rs.2 Lacs	Rs.150/-
  	Above Rs.2 Lacs & upto Rs.5 Lacs	Rs.1,000/-
  	Above Rs.5 Lacs & upto Rs.20 Lacs	Rs.1,500/-