NAINI HOTEL NIRMAN SCHEME

“NAINI HOTEL NIRMAN SCHEME”

Purpose

Term Loan and Overdraft facility for following purposes

  1. For Construction of Hotel /Recreation Centers and Purchase of Furniture Fixture.
  2. Purchase of Hotel/Restaurant/ Recreation Centers.
  3. For Renovation of Hotel/Restaurants/ Recreation Centers.
  4. Overdraft for the line of Business/operational expenses.

Eligibility:

All Business Units who want to avail loan facility for services activities including takeover of accounts associated with Hospitality industry including Hotels, Restaurants, Recreation Centers etc along with self-employed and professional individuals covered by MSMED Act 2006, modified from time to time.

Margin :

Over Draft – Nil

Term Loan – 25 % of the cost of the asset created

Features :

Over Draft:25% of the Total Gross Receipts. Minimum: 20.00 lakhs Subject of Maximum of Rs.100.00 lakhs.

Term Loan: Minimum Amount of Rs. 0.20 Crore Maximum Amount of Rs. 15.00 Crore

Overdraft -12-months subject to annual review

Term Loan-Minimum- 36 months maximum -120 months (Moratorium on Principal is restricted to 18 months)

For takeover of the account Processing charges are waived. POS rental would be free for up to 2 POS machine.QR code is Free and 50% waiver in cash handling charges would be provided.

Nainital Bank must be the Sole Banker of the Business Unit.