Finance Against Immovable Property Scheme

Purpose

For any purpose except for financial speculation of any nature.

Eligibility:

All Individuals (Existing Staff members of our Bank are not eligible)

Proprietorship Firm, Partnership Firm, Private Ltd. Company & LLP.

Age :

Minimum Age: 21Years

Maximum Age:70Years.

Maximum Amount of Finance :

Rs.500.00Lakh

Margin :

40% on Realizable Value of immovable properties (As per bank's empanled valuer's valuation report).

Features :

Credit facility in form of term loan/demand loan & Overdraft.

Personal guarantee of person(s) having worth at-least equivalent of the credit facility.

Repayment period of 07Years.

For Individuals no prepayment charges.

Processing & Other Charges :

As per banks' Service Charges Booklet

Processing Charges:

0.50% on sanctioned amount (No ceiling).

Documentation Charges:

Loan Amount Applicable Charges
Up to Rs.25000/-Nil
Above Rs.25000/- to Rs.2.00 LakhRs.500/-
Above Rs.2.00 Lakh to Rs.5.00 LakhRs.1000/-
Above Rs.5.00 Lakh to Rs.25.00 LakhRs.4000/-
Above Rs.25 Lakh to Rs.50.00 LakhRs.6000/-
Above Rs.50.00 Lakh to Rs.2.00 CroreRs.8000/-
Above Rs.2.00 CroresRs.10000/-

NAINI HOME IMPROVEMENT (Floating Rate of Interest)

Spread over NRLLR (In %)
If Credit Insurance Taken IN Housing Loan1.00
If Credit Insurance not Taken IN Housing Loan1.05

NAINI HOME IMPROVEMENT (Fixed Rate of Interest)

If Credit Insurance Taken IN Housing Loan3.00
If Credit Insurance not Taken IN Housing Loan3.05

FINANCING AGAINST IMMOVABLE PROPERTY (LAP) : Floating Rate of Interest

Spread over NRLLR (In %) Spread over NRLLR (In %)

For Individual Borrower/Non Individual Borrower

Overdraft Term Loan
CIBIL Score 850 or Above / CMR-11.601.75
CIBIL Score 750 to 849 / CMR-2 & 31.752.00
CIBIL Score 700 to 749 / CMR-4 & 5 and unrated2.252.50
CIBIL Score 650 to 700 / CMR-6 & 72.752.75
CIBIL Score below 650* / CMR below 7*3.003.00
Note: No fresh proposal or enhancement to be undertaken under CMR ratings CMR-8 to 10 or below 650 CIBIL score.

FINANCING AGAINST IMMOVABLE PROPERTY (LAP) : Fixed Rate of Interest

Spread over NRLLR (In %) Spread over NRLLR (In %)

For Individual Borrower/Non Individual Borrower

Overdraft Term Loan
CIBIL Score 850 or Above / CMR-1NA3.75
CIBIL Score 750 to 849 / CMR-2 & 3NA4.00
CIBIL Score 700 to 749 / CMR-4 & 5 and unratedNA4.50
CIBIL Score 650 to 700 / CMR-6 & 7NA4.75
CIBIL Score below 650* / CMR below 7*NA5.00
Note: No fresh proposal or enhancement to be undertaken under CMR ratings CMR-8 to 10 or below 650 CIBIL score.