PURPOSE:

• The objective of KCC scheme is to provide hassle free production credit to farmers for meeting the cost of cultivation of both short duration field crops and to upkeep / maintain long duration horticultural and plantation crops. Revised KCC scheme has short term as well as long term component to meet the following requirements:-
  • To meet the short term credit requirement for cultivation of crops
  • Post harvest expenses
  • Produce Marketing loan.
  • Consumption requirement of farmer household
  • Working capital for maintenance for farm assets & activities allied to agriculture, like dairy animal, inland fishery etc.
  • Investment credit requirement for agriculture and allied activities like pumpsets, sprayers, dairy animals etc.

ELIGIBILITY :

• All farmers – Individual/ Joint borrower who are owner cultivators.
• Tenant farmers, Oral Lessees & Share Croppers
• SHGs or Joint Liability Group(JLG) of Farmers including Tenant farmers, Share Croppers etc.

QUANTUM OF LOAN :

• Depends on land holding, scale of finance and cropping pattern.

 RATE OF INTEREST:   

• Short Term Component:- Up to Rs. 3.00 Lacs - 7% (Up to one year or interest due date/within the limit sanctioned) Above Rs. 3.00 Lacs - 13.5%
• Term Loan Component:- Rate of Interest will be according to the activity/ credit requirement.

SECURITY :

• SRM of Agriculture land of double value of security.

VALIDITY:

• The Credit Card should be valid for five years, subject to annual review.

PURPOSE:

• To meet the credit requirement related to investment on farm development / contingencies, consumption & other pressing social obligations

ELIGIBILITY :

• All credit worthy farmers in the service area of the Bank as well as from the operational area of the Bank. Credit requirement should not be less than Rs.50000/-. Major portion of the credit facility shall be directly related to Farm Development.

QUANTUM OF LOAN :

• Quantum of Loan is decided based on value of property offered as security & Annual Income of the farmers. The maximum eligible amount shall be 50% of the value of property offered as security or 5 times of the annual income whichever is lower subject to maximum of Rs.7.50 Lac.

 RATE OF INTEREST:   

• Upto 2 lacs : 13.50% p.a.
• Above 2 lacs : 14.00% p.a.

PAYMENT:

• To be repaid within a maximum period of 7 years based on expected time of harvesting/marketing of farm produce. Repayment holiday of one year from the date of first disbursement may be considered.

SECURITY :

• Mortgage /charge creation on agricultural lands after ensuring clear title.

PURPOSE :

• The objective of the scheme is to finance the farmers to purchase, develop and cultivate agricultural as well as fallow and waste lands. In addition, the branches may also finance purchase of land for diversifying into other allied activities such as Dairy, Poultry etc.
• As far as possible, composite proposals involving purchase of agricultural land and its development shall be entertained with comprehensive details about the project proposed to be under taken by the farmer.

ELIGIBILITY :

• Small and marginal farmers i.e. those who would own maximum of non-irrigated or irrigated land (including purchase of land under the scheme) as stipulated by NABARD (Acreage ceiling in different agro-climate regions for reckoning the small and marginal farmers is furnished as under:
  

  Sr.	District	Income Ceiling Translated into Average Ceiling Land holding in acre
  		Rain fed	Irrigated
  1	Gurgaon , Faridabad, Mewat, Rewari	12.00	8.00
  2	Mohindergarh	17.50	8.50
  3	Sonepat	11.00	8.00



• Share croppers/ tenant farmers

QUANTUM OF LOAN :

• It will depend upon the area of the land proposed to be purchased and its valuation and also development cost. The project cost may include, besides cost of land, value of stamp duty, registration charges for sale/ mortgage deed and other land development expenses.

RATE OF INTEREST:   

• Upto Rs.2 lacs : 12.75% p.a.
• Above Rs. 2 lacs : 13.50% p.a.

REPAYMENT:

• Loan may be repaid in 7-12 years in half yearly/ yearly installments including a maximum moratorium period of 24 months. The moratorium period may be fixed taking into account the gestation period of the project and cash flow.

SECURITY :

• The land purchased out of bank loan shall be mortgaged in favour of the bank.

MARGIN :

• No margin is stipulated for loans upto Rs. 50000/-. For loans above Rs. 50000/- minimum margin money at 10% of the project cost shall be met by the borrower.

PURPOSE :

• Providing loans for purchase of Tractors and Accessories.

ELIGIBILITY :

• Farmers should own and cultivate minimum 2.5 acre of perennially irrigated land upto 35 HP, 3.5 to 6 acre for a tractor above 35 HP to 45 HP and more than 6 acres for above 45 HP tractors for branches in Gurgaon, Faridabad, Palwal, Rewari, Mahendragarh and Sonepat Districts.
• For branches in Mewat District land holding shall be 4 acres of perennial irrigated land up to 35 HP, more than 4.0 to 6.0 acre for tractor above 35 to 45 HP and above 6 acres for tractors of above 45 HP.

QUANTUM OF LOAN :

• 90% to 95% of the cost.

RATE OF INTEREST:   

• Upto 2 lacs : 12.75% p.a.
• Above 2 lacs : 13.50% p.a.

SECURITY :

• SRM of Agriculture land of double value of security and Hypothecation of Tractor.

REPAYMENT:

• 9 years

MARGIN :

• Minimum 5% to 10%

PURPOSE :

• To provide extension and other services to farmers on payment basis;
• To support agriculture development and entrepreneurship;
• To promote self-employment.

ELIGIBILITY :

• The scheme is open to agriculture graduates/ Post graduates in subjects allied to agriculture like horticulture, animal husbandry, forestry, dairy, veterinary, poultry farming and pisci-culture from State Agriculture Universities/ Central Agriculture Universities/ Universities recognized by ICAR/UGC
• Diploma in Agriculture and allied subjects from state agricultural universities.
• The subsidy would be admissible only in respect of agricultural graduates trained under the ACABC scheme on or after 1st April 2004.

QUANTUM OF LOAN :

• The ceiling of project cost for individual projects will be Rs. 10.00 Lacs. The ceiling of project cost for group projects would be Rs. 10.00 Lacs per trained graduates, subject to an overall ceiling of Rs. 50.00 Lacs. In case of groups having five persons, of which one is non-agriculture graduate, the ceiling of such group projects would also be Rs. 50.00 Lacs.

RATE OF INTEREST:   

• 12.75% p.a.

SECURITY :

• Upto Rs. 5 Lacs loans can be secured against hypothecation of assets.
• Above Rs. 5 Lacs against hypothecation of assets and SRM agriculture land.

REPAYMENT:

• Repayment Period will depend on the nature of activity and will vary between 5 to 10 years. The repayment period may include a maximum grace period of 2 years (to be decided by the financing bank as per the needs of individual projects).

MARGIN :

• In case of loans upto Rs. 5.00 Lacs, no margin money is required as per present norms. The margin money to be contributed by the general category entrepreneur will be as per prevailing norms.

SUBSIDY:

• Credit linked capital subsidy @ 25% of the capital cost of the project funded through bank loan would be eligible. This subsidy would be 33.33% in respect of candidates belonging to SC,ST,Women and other disadvantaged sections and those from North Eastern and Hill States.

ELIGIBILITY :

• All farmers having agricultural lands in their own name and residing in the service area of the branch are eligible under the scheme.

QUANTUM OF LOAN :

• Maximum Credit limit of Rs. 5 Lacs.
• Credit limit will be sanctioned with sub limits as follows:-
  

  Crop Production	Rs. 3.00 lacs (subject to scale of finance)
  Other Agricultural Activities	Rs. 2.00 lacs
  Activities allied to Agriculture	Rs. 1.00 lac.

 RATE OF INTEREST:   

• Crop Loan : 7.00 % p.a.
  

  Upto Rs. 3.00 lacs	7% (Up to one year or interest due date/within the limit sanctioned)
  Above Rs.3.00 lacs	13.05%

• Term Loan Component
  Rate of Interest will be according to the activity/ credit requirement.

SECURITY :

• Mortgage of immovable property valued atleast 200% of loan amount.
• Hypothecation of Unit.

REPAYMENT:

• 5 years

MARGIN:

• 10% of project cost but no margin to be insisted for limit sanctioned for crop production.

PURPOSE :

• The main objectives of the scheme include creation of scientific storage capacity with allied facilities in rural areas to meet the requirements of farmers for storing farm produce, processed farm produce, consumer articles and agricultural inputs; promotion of grading, standardization and quality control of agricultural produce to improve their marketability; prevention of distress sale immediately after harvest, promotion of pledge financing and marketing infrastructure in the country for the introduction of a national system of warehouse receipts in respect of agricultural commodities stored in such godowns

ELIGIBILITY :

• The project for construction of rural godowns can be taken up by individuals, farmers, group of farmers/Growers, Partnership/Proprietary firms, Non-Government Organisations ( NGOs), Self Help Groups ( SHGs), Companies, Corporations, Co-operatives, Agro-Processing Cooperative Societies, Agricultural Produce Marketing Committees, Marketing Boards and Agro Processing Corporations in the entire country. Assistance for renovation/expansion of rural godown will however, be restricted to the godowns constructed by cooperatives only.

SIZE :

• Capacity of a godown shall be decided by an entrepreneur.

RATE OF INTEREST:

• Upto Rs.2 lacs : 12.75% p.a.
• Above Rs. 2 lacs : 13.50% p.a.

SECURITY :

• The security in the shape of mortgage of immovable property/ Pledge of NSCs/KVPs/LICs policies valued atleast 200% of loan amount and Hypothecation of unit will be taken as security.

SUBSIDY:

• 33.33% of the capital cost of the project in case of projects located in North-Eastern States, hilly areas and those belonging to SC/ST entrepreneurs and their cooperatives subject to a maximum ceiling on subsidy of Rs.3 Crore
• 25% of the capital cost of the project to all categories of farmers, agriculture graduates, cooperatives and State/Central Warehousing Corporations subject to a maximum ceiling on subsidy of Rs.2.25 Crore
• 15% of the capital of the project to all other categories of individuals, companies & corporations etc., subject to a maximum ceiling on subsidy of Rs.1.35 Crore; and
• 25% of the capital cost of the project for renovation of godowns of cooperatives with assistance from NCDC.
• Capital cost of the project for the purpose of release of subsidy under the scheme shall be calculated as follows:
  

  a).	for godowns up to 1000 tones capacity – actual cost or Rs.3500/- per tone of storage capacity, whichever is lower;
  b).	for godowns exceeding 1000 tonnes capacity – actual cost or Rs.3000/- per tone of storage capacity, whichever is lower.
  c).	for renovation/expansion of godowns constructed by cooperative with the assistance from NCDC – actual cost or Rs.750 per tone of storage capacity whichever is lower.

• No beneficiary shall draw the subsidy for the godown project or any of its component from more than one source.
• The capacity of godown shall be calculated @ of 0.43 tone per cu.mtr.

PURPOSE :

• Providing Credit Cards to Small Artisans, Handloom Weavers, Service Sector, Rural Artisans, Handicraftsmen, Fishermen & Self Employed persons, Rickshaw owners and other Micro Entrepreneurs.

QUANTUM OF LOAN :

• Rs.25,000/- per borrower as composite loan.

RATE OF INTEREST :

• 12.75% p.a.

SECURITY:

• Hypothecation of machinery, equipment’s, assets created out of finance/equitable mortgage of property.

PURPOSE :

• The objective of the scheme is to provide hassle-free credit to banks’ customers based on the assessment of cash flow without insistence on security, purpose or end use of the credit. This is in the nature of overdraft or cash-credit with no end use stipulations.

ELIGIBILITY :

• Farmers and Non-Farmers all are eligible under this scheme.

QUANTUM OF LOAN :

• Limit will be fixed based on the assessment of income and cash flow of the entire household. However, the total credit facility under GGB General Credit Card for an individual will not exceed Rs.25,000/-

RATE OF INTEREST :

• 12.75% p.a.

VALIDITY:

• The credit card will be valid for 3 years subject to annual review.

PURPOSE :

• To provide loans for purchasing Solar Lighting System with necessary accessories (conforming to MNRE specifications).
• No second hand or reconditioned solar lighting system is eligible for loan.

ELIGIBILITY :

• Households, small business establishments (micro business), hostels, hospitals, restaurants etc., who have an assured source of income for meeting the repayment commitments.
• In case of those in employment, it shall be ensured that they have adequate income.

QUANTUM OF LOAN :

• Up to unit cost.

RATE OF INTEREST:

• 11.00% p.a.

GUARANTEE :

• One good third party having sound net worth shall be taken as surety.

PURPOSE :

• To provide loan for purchasing Solar Water Heating System with necessary accessories (conforming to MNRE Specifications).
• No second hand or reconditioned Solar Water Heating system is eligible for loan.

ELIGIBILITY :

• Individuals/Institutions/Associations/Hotels/Restaurants/Business & commercial establishments and industries.

ECONOMICS OF SOLAR WATER HEATING SYSTEMS:

• The Solar Water Heaters has distinct economic viability.


• The returns on investments will be by way of :
  

  a).	Reduction in monthly energy bills.
  b).	Pay back of investment in a reasonable period.
  c).	Free energy for extended period and scope for multiplicity of usages.
  d).	Incentive of soft loan/interest subsidy by Govt., through the Banks.

LOAN AMOUNT :

• The customer is eligible for loan upto 85% of the ex-factory cost of the system.

RATE OF INTEREST :

• 11.00% p.a.

PENAL INTEREST :

• No penal interest for loans up to 25000/- in case of Priority Sector loans and up to Rs 5000/- in case of Non Priority sector loans (Aggregate limit of all outstanding credit facilities).
• For others: Penal rate of interest is 2% over & above stipulated rate.

SECURITY :

• For both priority & Non Priority sector loans:

  a).	Up to Rs.50000/- : Hypothecation of SWHS unit & Credit worthy third party guarantee.
  b).	Above Rs.50,000/- : Hypothecation of SWHS unit & Collateral securities like LIC Policies, NSCs, Deposits, mortgage of residential/landed properties etc. , value of which at least equal to loan amount.

SERVICE CHARGES :

• 1% of loan amount.

RELEASE OF LOAN :

• Loan proceeds to be released directly to the suppliers of SWHS after installation of the unit.

REPAYMENT :

• The repayment period permitted under the scheme is 3/4/5 years depending upon the repaying capacity of the borrower and cash flow.

INTEREST SUBSIDY :

• Interest subsidy (difference between the lending rate of Bank and MNRE prescribed interest rate) is calculated on upfront basis for the entire loan period and reimbursed to the Bank after systems are installed. For the purpose of calculation of interest subsidy, a uniform lending rate of 12.50% is being applied.
• The release of interest subsidy by IREDA is on reimbursement basis after installation of the system and submission of documents to IREDA.

INSURANCE :

• Insuring the SWHS is not compulsory. If the borrower is insists on insuring the unit, then only branch should arrange to insure the SWHS unit.

CAPACITYWISE UNIT COST FOR SOLAR WATER HEATING SYSTEMS

PURPOSE :

• The finance to JLG is expected to be a flexible credit product addressing the credit requirements of its members including crop production, consumption, marketing and other productive purposes.

LOAN LIMIT :

• Quantum of loan : Quantum of loan shall be decided based on the crops to be cultivated and scale of finance for such crops and a small component for meeting the contingencies related to cultivation of crops as per Micro-Credit Plan ( MCP) submitted by the Group.
• Maximum ceiling: Rs.5.00 Lacs per group with a ceiling of Rs. 50,000/- per member including a limit of Rs. 5000/- for meeting the expenses contingent to crop production.

RATE OF INTEREST :

• Rate of interest will be applicable as per respective activity/purpose of loan under taken by JLG or individual.

MARGIN AND SECURITY:

• No Margin need be insisted, as the maximum loan to be sanctioned under the scheme is Rs.50,000/- per member.

REPAYMENT PERIOD :

• Repayment shall be fixed based on the crops grown and possible time of harvest with some leverage for marketing and realization of proceeds.

PERSONAL ACCIDENT INSURANCE :

• All individual members of JLG are to be covered under Personal Accident Insurance.

PURPOSE :

• To promote sustainable livelihood in rural areas by way of providing credit support for construction of new structures for the purpose of accommodation of tourists.
• Credit support for expansion and repair/renovation of existing accommodation.
• Credit and promotional support for creating additional employment opportunities through other tourism related services in rural areas.

ELIGIBILITY :

• Individuals, Associations of service providers in cluster.
• NGOs/Voluntary agencies/PRIs.
• Cooperative Societies.
• Public Bodies
• Housing Boards/Development Authorities etc.

QUANTUM OF LOAN :

• For new construction – upto Rs. 15.00 lacs
• For expansion, repairs and renovation of existing accommodation – upto Rs. 10.00 lacs
• For working capital requirements – upto Rs. 3.00 lacs.
• Loan assistance may be for a repayment period of 3 to 15 years.
• Loan installments to be payable in monthly/quarterly/half-yearly/annual installments.
• Moratorium of 6 to 18 months from the date of disbursement.

RATE OF INTEREST :

• Upto Rs.2 lacs : 12.75% p.a.
• Above Rs. 2 lacs : 13.50% p.a.

SECURITY:

• Collateral security having value of atleast 200% of the loan amount, including the property for which finance is provided

PURPOSE :

• Providing loans for Tiny Industry, Small Scale Industry and Medium Enterprises.

ELIGIBILITY:

• The following units are eligible for financing under SMEs:-
  

  i).	Manufacturing’s units –Micro, Small & Medium manufacturing concerns, ancillary units, vendors to large manufacturers, Agro processing units etc.
  ii).	Service entities – Educational institutions, hotels, travel, freight management, small hospitals, call centres, health care units, women entrepreneurs etc.
  iii).	Micro and Small Scale (Industry related) Service and Business Enterprises (SSSBE) which forms part of SMEs.

  
  

RATE OF INTEREST :

• Upto Rs.2 Lacs : 13.00% p.a.
• Above Rs. 2 Lacs : 13.50% p.a.

SECURITY :

• Collateral security minimum of 150% of the value of advance shall be obtained besides Hypothecation of Machinery and other current assets.

REPAYMENT:

• 3 to 5 years

PURPOSE :

• CGMSE provides credit guarantee cover to the collateral free credit provided to Micro & Small Enterprises by the bank.

ELIGIBILITY :

• New or existing Micro and Small Enterprises availing credit facilities up to Rs.10.00 Lac without any collateral security and or third party guarantee.

SECURITY:

• Assets created out of credit facility granted and associated with the business of the unit.

TENURE:

• Period of term loan in case of Term Loans and working capital facility will be 5 years.

GUARANTEE FEE (GF):

• 1.00% of the credit facility sanction for loans up to Rs.5.00 Lac and 1.5% for loan above Rs.5.00 Lac.

ANNUAL SERVICE FEE (ASF):

• 0.50% of the credit facility sanction for loans up to Rs.5.00 Lac and 0.75% for loans above Rs.5.00 Lac per year on the prorate basis

PURPOSE :

• Auto Mechanics for serving & repairs
• Electricians for servicing & repairs
• Plumbers for sanitary servicing & repairs
• Carpenters and wood workers

ELIGIBILITY :

• All artisans and self employed persons who are engaged in the field of carpentry & wood works, servicing & repairs of automobiles, electrical and sanitary servicing.
• Preference would be given to the trainees who have undergone training in the prescribed disciplines as mentioned above in the training institute of RUDSET constituted and sponsored by Canara Bank and Syndicate Bank.
• Clusters of artisans/ self employed persons who have joined to form Self Help Groups (SHGs).
• All existing eligible artisan borrows of the Bank can also be brought under this scheme.

QUANTUM OF LOAN :

• Financial assistance by way of composite loan. Maximum limit is Rs. 1.00 lakh.

RATE OF INTEREST :

• 12.50% P.A.

SECURITY :

• Upto Rs. 25000/- against hypothecation of Tool Kits
• Above Rs. 25000/- against collateral security 150% of the Bank loan

MARGIN :

• For loan upto Rs. 25000/- : Nil
• Above Rs. 25000/- : 5 to 10%

REPAYMENT:

• 3 to 5 years

PURPOSE :

• Construction/Purchase of Built up /New House /Flat/Purchase of site for house construction & Construction thereon.
• For repairs/renovation/modification in existing house.
• For take over of the Housing loans from other financing Institutions.

• All salaried/self employed /business persons/agriculturist/pensioners with regular income.

QUANTUM OF LOAN :

• The quantum of loan is fixed on the basis of total project cost less prescribed margin ( 20% to 40%) or 72 months gross salary in case of salaried class/pensioners and six times the average income in case of Agriculturists & others whichever is less. Salary of the spouse, father, mother, son, daughter, other direct relatives may also be included for determining the quantum of the loan.

RATE OF INTEREST:

	Priority Sector upto Rs. 25 lacs	Non Priority Sector  above Rs. 25 lacs
Upto repayment of 5 years	10.00%	10.50%
Above 5 to 10 years	10.50%	11.00%
Above 10 Years	10.70%	12.00%

REPAYMENT : 

• Maximum upto 20 years.

SECURITY :

• Mortgage of the property to be financed.

PURPOSE :

• To meet any genuine personal or business credit requirement.

• Existing Housing Loan customers who have demonstrated a satisfactory repayment record of 18 months or more.

QUANTUM OF LOAN :

• The eligible quantum of loan shall be arrived as under :-

Value of the residential property mortgaged under the Housing Loan being the value at the time of sanction of the loan or present value, in cases where the market value has declined in the area ( certified as per present valuation report obtained from an approved valuer empanelled by the Bank,) whichever is lower.

LESS : Outstanding balance in the Housing Loan account as on the date of offer of this facility subject to a maximum of Rs. 2.00 lacs.

RATE OF INTEREST:   

• 13.50% p.a.

REPAYMENT :    

• In not more than 60 EMIs.

SECURITY :

• Extension of charge for the loan value on the mortgage of the residential property created already towards Housing Loan.

PURPOSE :

• To nurture ambitions & aspirations for higher education needs in India or abroad.

• Any student who is a major representing himself or a minor student represented by parent or guardian of Indian nationality. Must have secured admission on the basis of merit to professional/technical/other courses through entrance test/selection process. Must have secured admission to foreign university/institution (for studies abroad).

QUANTUM OF LOAN :

• The quantum of loan is based on structure of course undertaken includes fee payable to college/school/hostel, examination fee, cost of books, computers, refundable deposits, etc., travel/passage fare for studies abroad etc. The maximum loan upto Rs.10.00 lac for studies in India and Rs.20 lac for studies abroad can be provided.

RATE OF INTEREST:

• Loan upto Rs. 4.00 lacs : 12.75% p.a.
• Loans above Rs.4.00 lacs : 13.50% p.a.

REPAYMENT HOLIDAY/MORATORIUM :

• Course period plus 1 year or 6 months after getting job, whichever is earlier.

REPAYMENT:

• Maximum of 5-7 years after completion of repayment holiday.

SECURITY :

Note : In all the above cases, the parent/guardian shall join the transaction as Co-borrower.

PURPOSE :

• Any genuine business/personal credit requirement excluding for speculative/prohibited purposes.

ELIGIBILITY :

• Bonafide owners of commercial or residential property, legally let out on lease/rental agreement to reputed institutions/companies.

QUANTUM OF LOAN :

• Maximum of 75% of rent receivable (less TDS) by owner for whole or part of Lease period not exceeding 60 months or Rs.10 lacs whichever is less in Urban and Semi Urban areas.
• Maximum of 75% of rent receivable by owner or Rs.2.00 lacs whichever is less in rural areas.

RATE OF INTEREST:

• Upto Rs.2 lacs : 14.00% p.a.
• Above Rs. 2 lacs : 15.50% p.a.

REPAYMENT:

• EMI not exceeding the unexpired period of lease subject to maximum of 60 months.

SECURITY :

• Mortgage of property being let out whose realistic realizable value shall not be less than 150 % of the loan amount sanctioned OR
  
  
• Liquid securities in the form of NSC/KVP/IVP or Bank’s own deposits equivalent to 125% of loan amount shall be insisted OR
  
  
• Mortgage of alternate property whose realizable value is not less than 200% of loan amounts sanctioned in case of legal problems in mortgaging let out property.
  
  
• In case of premises/residences occupied by our Bank, security can be waived provided the EMI on loan is less than or equal to the monthly rent payable and the unexpired lease period is not less than 1.25 times the repayment period of the loan.

PURPOSE :

• Credit limit to meet credit requirement of all types of traders.

ELIGIBILITY :

• All the existing borrowers with good past dealings.
  
  
• In case of new clients satisfactory operation in the account for atleast three months to be observed.

QUANTUM OF LOAN :

• Maximum of Rs.25 lac

RATE OF INTEREST:   

• Upto Rs.2 lacs : 13.00% p.a.
• Above Rs. 2 lacs : 13.50% p.a.

SECURITY :

• Hypothecation of stock in trade, Machinery, Office equipment etc.

                                                                    &

• Mortgage of immovable property valued atleast 175% of loan amount for old customers and 200% for new customers.

                                                                    OR

• Pledge of NSCs/KVPs/LICs policies with face values Minimum equivalent to 125%in case of NSCs/KVPs and surrender value in case of LIC policies

MARGIN:

• 40% of Property Value for Old Customers
           
• 50% of property value for New Customers.
  
  
• 25% against pledge of NSCs/KVPs/Surrender value of LIC policies.

VALIDITY :

• Overdraft limit shall be valid for 2 years with yearly review based on ADV 85 for limits upto Rs. 5 lacs and yearly review based on ADV 85 and financial statements for limits above Rs.5 lacs.
  
  
• Term loans with repayment period upto 60 months.

PURPOSE :

ELIGIBILITY :

• All the existing borrowers with good past dealings.
  
  
• In case of new clients market standing and credit worthiness to be verified before entertaining the proposal.
  
  
• The applicant/s should be bonafide owners of Residential/Commercial sites.

ELIGIBILITY CRITERIA:

• Credit requirement upto maximum of Rs. 50 lacs for term loan

QUANTUM OF LOAN :

A.  FOR SALARIED CLIENTS:
60 months gross salary + Agri. Income + Income from other sources (Proof required). Income of close relatives can be clubbed if available for repayment. Close relative should not have availed the loan for same purpose. ( Close relatives – Husband/wife/mother/father/major son/daughter).

B.   FOR NON SALARIED CLIENTS & AGRICULTURISTS:
5 times average annual income. Latest Income Tax assessment/return or average of last three years ( which ever is higher ). Income of close relatives can be clubbed if available for repayment.

RATE OF INTEREST:

• Upto Rs.2 lacs : 14.00% p.a.
• Above Rs. 2 lacs : 15.50% p.a.

SECURITY :

• Mortgage of property valued at least 200% of loan amount. (No third party mortgage to be entertained except standing in the name of husband , wife, father, mother, son, daughter & daughter-in-law).

MARGIN:

• 25% on House plots by Housing Boards/Development Authority ( HUDA).
  
  
• 50% on other Residential/ Commercial property.

REPAYMENT:

• Maximum – 7 years.

PURPOSE :

• For purchase of Four Wheeler – New or Second hand not more than 5 years old.

ELIGIBILITY :

• Individual having Minimum Annual Income of Rs. 1.00 lac – clubbing of income with spouse/Major children/unmarried daughter can be considered provided they join the transaction as additional sureties.
  
  
• Agriculturists are also eligible.

QUANTUM OF LOAN :

i). NEW CAR:

To the extent of 95% of on road price (including insurance & road tax and accessories upto Rs. 10,000/-).
                                                            OR
Three times of the gross annual income whichever is less.

ii). OLD CAR:
70% of cost price ( as assessed by approved valuer)  OR 3 times the gross annual income or Rs.3.00 lacs whichever is less.

RATE OF INTEREST:

• Upto Rs.2 lacs : 12.75% p.a.
• Above Rs. 2 lacs : 13.00% p.a.

REPAYMENT:

• • Maximum 48 months for old car & 72 months for new car.

SECURITY :

• Hypothecation of vehicle purchased out of loan proceeds.
  
  
• Mortgage of immovable property.
  
  
• collateral security : shall not be insisted where employer’s undertaking is obtained in respect of Govt. employees/ employees of reputed company or where the applicant has the sound repaying capacity

PURPOSE :

• For purchase of required infrastructure for setting up ; Tailoring shop/Boutique, ISD/STD Booths, Beauty Parlour, Cyber Café and other industry related services or business enterprises.

ELIGIBILITY :

• Individuals, Group of Women beneficiaries working/non-working women with in the age of 20 to 50 years for small units having investment in Plant & Machinery upto Rs. 10 lacs engaged in industry related services or business enterprises.

QUANTUM OF LOAN :

• The credit facilities upto Rs. 5.00 lacs for working capital as well as composite loan.

MARGIN:

• Above Rs. 25,000/- : 10%

RATE OF INTEREST:

• Upto Rs.2 lacs : 12.75% p.a.
• Above Rs. 2 lacs : 13.50% p.a.

Concession of 1% to be provided as “Sashktikaran Abhiyan” for prompt repayment at the time of closure of loan.

REPAYMENT:

• Term Loan repayable in 3 to 5 years
  
  
• Working capital to be renewed every year.

SECURITY :

• Advances over Rs.25000/- Collateral Security by way of Equitable/Simple Registered Mortgage of immovable properties valued at least 150% of loan amount or pledge of FDRs/NSCs/IVPs/KVPs valued at least 125% of loan amount shall be obtained.

(A supplementary loan product from the banking system providing flexible, cost-effective and easy credit facility to rural households under “Family Centric Approach”)

OBJECTIVES :

• Grameen Tatkal will aim at merger of all extant schemes in rural areas such as KCC, GCC, SCC etc. While in initial days, it is not aimed to supplant the existing schemes, the objective is to supplement these schemes with a comprehensive GT scheme.
  

• The scheme shall eventually work as an operative arm in planning all rural economic activities in a cost effective manner and achieve effective rural development.

SCHEME FEATURES :

• Grameen Tatkal will provide “All purpose flexible credit to all rural households” to enable them to pursue on going economic activities/ or to take up new economic activities.
  
  
• The scheme aims to provide comprehensive coverage of all rural families, including members of SHGs the financial needs of whose families have graduated to a level that it could not be fully catered to by the SHGs.
  
  
• Loans will be provided by banks through a simple, cost effective and transparent process, Emphasis under the scheme will be on the credit worthiness of the borrowers and their ability to repay the loan in a timely manner.
  
  
• Banks will provide a composite loan limit to the borrowers. There will be no floor or outer ceilings for loans. The loan size will be normally determined by the financing bank based on the comprehensive needs of the family members (towards working capital, investment capital, consumption etc.) with due emphasis on the cash flow of entire family.
  
  
• Borrowers will have the flexibility/freedom to utilize the loan limit towards capital expenditure, working capital expenditure or consumption expenditure. There will be no sub-ceiling for purposes or restrictions on inter change of purposes by the borrower.
  
  
• Loan Appraisal :Family will be treated as a unit for the purpose of loan appraisal by banks. The financing banks will assess the comprehensive needs of the entire family while making credit assessment. Based on the cash flow of entire family and a simple cash flow analysis/oral enquiry, the credit worthiness of borrower will be assessed by Banks.

SECURITY :

• Collateral : Loans provided under the scheme will be secured by bank as per the extant guidelines issued by RBI. Being a Family Oriented Credit, the spouse and children who have attained adulthood ( 18 years) will be invariably co-signatories to the loan application.

RATE OF INTEREST :

• 7% to 13% depending upon the purpose of the Loan.

REPAYMENT PERIOD :  

• 3 to 5 years

GGB have tie-up arrangement with 166 reputed Companies such as Hero Honda, Escorts, Yamaha, Honda Motors, Good Years, Lumax, Orient Crafts, Sona Koya Steering system etc. Our Bank is a leading Bank to finance personal loans to the employees of such reputed companies.

PURPOSE :

• Marriage of Self / Children and Direct Sisters / Brothers, whether dependent or not.
  
  
• Construction/Purchase of House/ Repairs/Innovation of Existing House.
  
  
• Medical Treatment of Self and Dependents.
  
  
• Ceremonies like Satya Narayan Puja, Mundan, Christening etc. and other contingent purposes.
  
  
• Purchase of consumer durable i.e. electronic/electric item/s like T V Refrigerator, fans, vacuum cleaner, VCR/VCP etc.
  
  
• Purchase of furniture, sofa set, dining table set, bed, almirah etc.
  
  
• Car Loans & Two Wheeler loans.
  
  
• Any other genuine credit need.

ELIGIBILITY :

• Employees who have confirmed service in the Company will be eligible to avail the Bank loans.

QUANTUM OF LOAN :

• Upto Rs.5,00,000/- or 6-12 months salary with 50% cut back whichever is less depending upon the average salary structure prevailing in the company or as per agreed terms under Tie-up with individual Company.

RATE OF INTEREST:   

• Minimum 13.50% P.A.

REPAYMENT:

• Loan amount is repayable in 36 -72 Equated Monthly Instalment (EMI) but it must be repaid fully before date of retirement.

SURETY

• Two permanent employees of the same cadre who have confirmed/ regular services. One person should not be guarantor in more than two loan cases

 SECURITY :

• Undertaking of Company that company will deduct the Equated Monthly Instalments (EMI) from the salaries/wages of concerned employee every month and will deposit the same with the Bank through cheque every month. The undertaking shall be irrevocable till the concerned employee is in the service of Company.
  
  
• Undertaking of Company to the effect that in case, any employee leaves the services of the organisation for whatsoever reasons that Company after adjusting its own dues from his terminal benefits shall pass on the balance amount to Gurgaon Gramin Bank, ________ Gurgaon, Branch. All statutory dues, such as Gratuity, PF, Bonus or any other dues payable will not come under this provision. Company will not be liable to the bank for the balance, loan outstanding plus interest due payable to the Bank.
  
  
• Company will obtain No dues certificate from Gurgaon Gramin Bank, __________ Gurgaon Branch in case employee leaves the service of the Company.
  
  
• MOU to be signed and submission of copy of Board Resolution as per scheme.

PURPOSE :

• Residential Mortgages including all types of House Loans.
  
  
• Commercial Real Estate, investment in Mortgaged Backed Securities (MBS) and other securitized exposures.
  
  
• Indirect exposures by way of fund based and non fund based exposures on NHB and Housing Finance Companies.

 ELIGIBILITY :

a).LOANS TO BE PROJECT SPECIFIC: Real Estate loan should be project specific. The loan should invariably co-terminate with project completion and sale proceeds should clear the loan in full without any rollover.

b).STANDING OF THE PARTY: Parties should already have been in this line of business with necessary proof of having executed such projects in the past. Preference shall be given to applicants who are existing clients of the Bank and who are otherwise known to the Bank. Proposals of new clients should be entertained on very selective basis on merits. Proposals from parties who are entering this line of business for the first time shall normally be discouraged. It should also conform to standards laid down by the Bank and satisfy KYC norms.

QUANTUM OF LOAN :

a).  SINGLE PARTY: The loan amount considered shall not exceed 5 times the tangible Net worth of the borrower or 15% of Bank’s Capital Funds whichever is less. In respect of GGB Mortgage and GGB Rent : Loan amount shall be as per the Scheme/s.
 
b).  GROUP:  Maximum : Rs. 25 Crore.

RATE OF INTEREST:

Against Mortgage;-
Upto Rs.2 lacs : 14.00% p.a.
Above Rs. 2 lacs : 15.50% p.a.

MARGIN:

• A minimum margin of 50% shall be maintained. Promoters shall bring in at least 25% of their own.

REPAYMENT:

• Not exceeding 84 months.

SECURITY :

• Value of the primary/collateral security offered shall not be less than 200% of the loan amount.

PURPOSE :

• To purchase of new consumer durable such as refrigerator, TV/VCP/VCR, Furniture, Steel Almirah, Mixer, Cooking Range, washing Machine and other equipments etc.).

ELIGIBILITY :

• Salaried Persons
  
  
• Salaried persons will have to submit irrevocable letter from their employer undertaking to remit loan installments to the branch directly till the closure of loan.

QUANTUM OF LOAN :

• Not exceeding 10 month salary subject to cut back not exceeding 50% of gross salary.
  
  
• In case of Govt. Teachers/employees of schools, employees of Govt. Departments, the loan amount equivalent to 10 month salary or Rs.2.00 lac, which ever is less.
  
  
• In case of Govt. Lecturers/Professors/Officers, the loan amount equivalent to 10 month salary or Rs.3.00 lac, which ever is less.

RATE OF INTEREST:   

• Upto Rs. 2.00 lacs : 13.50%
• Above Rs.2.00 lacs : 14.00%

REPAYMENT:

• Not exceeding 36 equated monthly installments.

 GUARANTEE:

• Two good third party acceptable to the Bank.

 
OTHER CONDITIONS:

• Salary Certificate showing the gross salary , deductions and net salary alongwith Form 16 in case of Income tax Assessee should be obtained.
  
  
• The borrower should be permanent residents within the command area of the branch. Permanent resident means those owing land/house in the area.