Minimum limit: Rs. 1 lakh
Maximum Limit: Rs 10 lakhs
Under Relaxed Norms:
- Maximum of three times the gross annual income
- Upper ceiling of Rs.12.50 lakhs.
- The ceiling of finance per acre of land mortgaged with Maximum of Rs. 1 lac per acre of land mortgaged subject to 50% of the value of the landed property mortgaged / proposed to be mortgaged. Out of which atleast 15% security in the form of residential property.
|For loans upto and including Rs. 1,60,000/-
|For loans above Rs. 1,60,000/- *
||15% to 25% of the project cost depending upon purpose and quantum of
||Mortgage of landed properties are to be obtained with value at least 200% of the limit as prime security & of which at least 15% security in the form of residential property.
||The limit would be in the nature of revolving OD and provide for any number of drawals and repayments within the limit.The interest should be served halfyearly and the loan must be renewed yearly. Duration of loan is 12 months only.