RBI LIC. NO.: 04/01/1975 No. 52 P Registration NO.: 03/08/1972 No. 1557 Y

Rupay-Offers | Account Login

RBI LIC. NO.: 04/01/1975 No. 52 P Registration NO.: 03/08/1972 No. 1557 Y

Rupay-Offers Account Login

Special Small Loan Scheme

Small Loans below Rs. 25 Lakh for Business
1 Type of Advance Term Loan (reducible as per repayment schedule)
2 Purpose
  • To meet the credit needs of trade, commercial activity, other general business, profession as also for their bonafide requirements.
  • Repayment of existing loans from other banks/financial institutions
3 Eligibility
  • All types of Proprietorship Firms/Partnership Firms/Companies
4 Quantum of Loan Minimum Rs. 2 Lakh
Maximum Rs. 25 Lakh
The limits are subject to:-

  • Five times of cash accruals i.e. PAT +Depreciation) as per their Audited/ Actual Balance sheet / P&L Account (Average of last 2/3 years)

 
5 Margin
  • 20%  in case of residential house/Commercial shop
  • 30% in case of residential plot/Commercial Plot
  • 50%  in case of SDO Patta

* On Average Value of property.
6 Rate of Interest BPLR-0.85% Presently 9.15% (Floating) at Monthly Rests
7 Repayment Period
  • Within a period of 12 years by way of EMI.
  • The repayment shall commence from the month subsequent to the month of disbursement.
8 Security
  • Equitable / Registered Mortgage (1st charge) on land / flat / house to be financed.
  • Third Party guarantee with good Net Worth, other than property owner.
9 Processing charges 0.20% of Sanction Loan + GST
10 Deviation For every item of Deviation from the scheme norms, additional interest of 0.25% on the applicable rate of interest.
11 Rebate 0.25% for Firms Registered under GST
12 Out of Pocket Expenses for Documentation, LSR and Valuation Report to be borne by the applicants / borrowers.