Loan SME’s Against Commercial and Residential Properties – IDBI Bank Property Power
Overview
The Product aims to cater to the needs of MSME segment by way of providing loan against commercial and residential properties owned by them. The end use of the loan would be for various business related purposes or to take care of any financial requirements viz., retiring of high cost debt, balance transfer/ takeover or any other business exigencies.
Features
Eligible Segments
All potential and existing MSME customers of the Bank engaged in the business for the last 2 years.Facility
Term Loan/ Overdraft limit to fund business needs (excluding for speculative purposes)Loan Amount
Minimum: Above Rs. 10 lakhMaximum: Rs. 500 lakh
Tenor
Term Loan: Max 7 yearsOD: Max 12 months (Annual renewal)
Pricing
Linked to banks Repo Linked Lending Rate (RLLR) and RatingSecurity
Equitable Mortgage or Registered Mortgage of Residential / Commercial propertyGuarantee
Personal guarantee of the borrowerProcessing Charges
As per Extant applicable Schedule of Charges.Security
Equitable Mortgage or Registered Mortgage of Residential / Commercial property