SCHEME NO. : 1
|
1. |
Name
of the Scheme |
PROJECT LOAN |
|
2. |
Purpose
of Loan |
For
setting up of new project(s)/ expansion/modernization/diversification.
Investment in land, buildings, plant & machinery, misc. fixed assets,
margin money for working capital, etc. |
|
3. |
Eligibility
Criteria |
Minimum project cost of Rs. 1.00 crore for new
industrial, commercial & infrastructural project(s). |
|
4. |
Loan
Limit |
Rs. 4.00 crores; Loan of
higher amount considered on selective basis on merits. |
|
5. |
Security
Margin |
Minimum 25% |
|
6. |
Promoters'
Contribution |
Minimum 30% |
|
7. |
Debt
Equity Ratio |
Financial
parameters of security margin (not less than 25%) and DSCR (1.5) shall be
maintained. However, present norms for debt equity ratio shall stand amended
accordingly. |
|
8. |
Interest
Rate |
Prevailing
interest rate. |
|
9. |
Repayment
Period |
7-8
years in quarterly installments including moratorium of 1 year, depending on
cash flow of the project. |
|
10. |
Rebate
on Timely Payment |
As per prevailing policy -
2% wef 16.07.2009. |