|Eligibility of borrower||* Having current / saving account holder of the Bank.
* Borrower must be a member/ nominal member of the bank.
* Applicant must be a skilled person.
|Purpose of Loan:||For setting of his own business / profession .|
|Quantum of finance||Up to 80% of project cost.|
|Share Linkage||Borrower must have Bank share Linkage @ 1% of the loan sanction amount.|
|Repayment period||Maximum 120 months|
|Rate of Interest||10.50% p. a.|
* Hypothecation of assets created by Bank finance.
* Third party guarantee of two personal guarantors having good Credit worthiness and financially sound and member of the Bank.
* If loan sanction amount exceeds Rs.1.00 lac, simple mortgage of title cleared property of the borrower/ guarantors.