FINANCING TO LANDSCAPE WORK

FINANCING TO LANDSCAPE WORK

Purpose The process of making a garden or other piece of land more attractive by altering the existing design, adding ornamental features, and planting trees and shrubs.
Eligibility High net worth individuals/ Institutions having adequate repaying capacity.
Quantum Loan 75% of the Project cost. Min. Rs.5 lakh & Max: Rs.25 lakh.
Margin 25%
Rate of Interest 12.50% p.a.
Repayment Period Repayable in quarterly installments, Total repayment is 7 years excluding initial 3 months gestation (total period is 87 months). 1stinstallment falling due on exactly 6 months from the date of 1strelease.
Security Mortgage of commercial building where business being conducted or any other security in the form of land, building etc. The value of such collateral asset should be 150% of the loan amount. If the primary security / property is already mortgaged to any other financial institution then second charge in favour of our bank can be accepted subject to availability of sufficient margin in the value of the property which is being offered as security.
Co-oblignat/ Surety Solvent third party / ies with sufficient net worth acceptable to the Bank shall be obtained.