- Professionals: Registered Medical Practitioners, Chartered Accountants, Company Secretaries, Consultant Engineers and Architects, Management Consultants, Tax Consultants, Free-lance accredited Journalists/Cameraman/Caterers who are holding either a degree or diploma from established institutions and established in their profession.
- Individuals/Jointly/Partnership firm (excluding partnership firm where HUF is a partner) / Joint Stock Company (excluding persons engaged in Real Estate/Speculative Activities /Capital Market Activities) excluding businessmen.
- Minimum experience 3 years in their field.
- Minimum age 25 and maximum up to 65 years
- The applicant should be an Income tax assesse.
Finance for acquisition of ready built office premises.
Quantum of Finance :
- For Individual : Minimum Limit: Rs.1.00Lac & Maximum Limit: Rs.100.00Lac.
- For Firm / Corporate / Companies : Minimum Limit: Rs.1.00Lac & Maximum Limit: Rs.500.00Lac.
- Term Loan: 35% on cost of the office premises.
- 40% for furniture and fixtures.
- Overdraft : 50 % against receivables not older than 90 days.
Rate of Interest :
- Up to Rs.10.00Lac: MCLR + 0.50%
- Above Rs.10Lac and up to Rs.100.00Lac: MCLR + 1.00%.
- For Micro & small enterprises above Rs.1Crore :
Based on Customer Credit Rating
- For Term Loan Tenor Premium will be : 1 year to 3 years is 0.25% & above 3 years is 0.50%
Terms of Repayment :
- Term Loan is to be repaid in Maximum 120 equated monthly instalments (EMIs), commencing after 3 months from the date of disbursement. (Moratorium 3 months).
- Working Capital: for 12 months subject to renewal annually.
- Primary Security :
Collateral Security :
- Equitable Mortgage of Office Premises for Term Loan.
- Hypothecation of Furniture and fixtures and other office equipment financed.
- For Overdraft against receivables, assignment of receivables not older than 90 days.
As per Bank's guidelines for the scheme.
Processing Charges :
- Nil up-to Rs.5.00Lac
- 0.75% of loan amount subject to a minimum of Rs.5000/- plus service tax with maximum of Rs.1Lac above Rs.5.00Lac.