This facility is available for Investment or purchasing a land plot for construction purposes.
|Loan amount||• As per Bank Credit Risk policy with serviceability demonstrated from existing and projected income streams.
• No Minimum amount but subject to business reasonability.
• Maximum-to be determined by serviceability
|Repayment capacity||• Repayment capacity will be assessed on existing businesses only|
|Security||• As per collaterals defined in the Bank Credit Risk Policy|
|Maximum tenor||60 Months|
|Method of Repayment||• Amortized over the tenor of the loan. Loan Repayment to include loan principal plus Interest amount.|
|Documentation/Conditions||• Established business for at least 2 years with a good track record
• Plot size should not be more than 2.5 acres
• The applicant (in case of sole proprietor must be between 25 years and 65 years old)
• Evidence of payment of deposit price
• The borrower must have clear and proven source of repayment – from already existing income streams that are sufficient to meet expected repayment.
- Allows the borrower to acquire fixed assets without drawing working capital from the business