Collateral Security of adequate worth or third party guarantee.
Upto Rs.5 lakh – Nil
Over Rs.5 lakh - 15% to 20%
Rate of interest
As decided by Bank from time to time
Repayment period will vary between 5 to 10 years depending upon the activity. The repayment period may include a grace period of maximum 2 years.
Margin Money Assistance
Margin money assistance from Soft Loan Assistance Fund of NABARD would be available to the extent of 50% of the margin money prescribed by bank to meet the shortfall in borrower’s contribution, if any, where the Bank is satisfied that the prospective borrower is unable to meet the margin money requirements, could be given by NABARD. Such assistance/ loan to bank will be without any interest but the bank may charge a service charge of 3% p.a. from the beneficiary.