Project Term Loan/Overdraft to builders & developers Back

Purpose
Bank provides Project term Loan/Overdraft to builders &Developers for completion of projects in hand and for further development of business.

  • Documents Required
    • KYC compliance and other documents as specified
  • Rate of Interest
  • Duration
    • Project Term Loans to be repaid within maximum period of three years, with moratorium period of 6 months or as per sanctioned terms.
    • Overdraft to builders shall be renewed, every year, subject to satisfactory performance / submission of financial papers, etc.
  • Security
    • Registered / equitable mortgage of the project site and/or other immovable property acceptable to bank
    • Guarantee from two guarantors, with adequate means / net worth.
    • Loans to builders are granted as per the bank's prevailing policy
  • Loan Charges
    • Processing / Scrutiny Charges : 1.15% of the loan amount or as per the sanctioned terms.
    • Share linking - Borrower will be required to purchase the shares of the Bank (as per sanction terms)
  • Other Conditions
    • As per Sanctioned Terms
    • Margin as per Banks policy as amended from time to time
Other Loans facilities

172, Shraddhanand Peth,
South Ambazari Road,
Nagpur-440010
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0712 - 2221120, 2221686
+91 9158884855,
+91 9158884844, +91 9158884845
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