| Beneficiary |
Owners of the Property who have let out or proposed to be let out the same to Reputed Company/Commerical/Industrial/Software Companes, MNCs , Banks , PSUs/Reported Govt./Semi Govt./Institutions/Organisations , financial Institutions , Insurance Companies etc. |
| Purpose |
For meeting business/ personal needs. |
| Loan Limit |
Maximum to the extent of 50% of post TDS Rent Receivable for a period. Not exceeding 120 months or un- expired period of lease or Rs 25 Lac whichever is less. |
| Rate of Intt |
12% |
| Margin |
50% |
| Repayment Period |
Maximum 10 years OR unexpired period of lease wichever is earlier. |
| Collateral Security |
Mortgage of landed property value of 150% of the loan amount .
OR
Other chargeable securities such NSCs, IVPs, Banks on Deposits to the extent of 100% of Loan amount.
OR
150% cover partly by immovable property and partly by securities such as NSCs,IVPs, Bank's on deposits. In case of property /Security is in the name of third party,personal gurantee of the owner of assets proposed to be taken as collateral security. |
| Area of Operation |
Loan shall be advanced in the area operation in the Muktsar district. |