Minus 2 Loan Scheme

Fund Based Limits/Facility
Term Loan and Working capital

Eligibility: All those engaged in any sort of business activity for more than 3 years  and who have availed credit facility from any other bank or financial institution

The borrower account which is proposed to be taken over should have minimum 18 months repayment track record with their existing banker. In case of Term Loan, the period of 18 months should be excluding the moratorium period.

In case of Term Loan: Repayment obligations under all loan accounts of the applicant is serviced satisfactorily with Zero default in any month during last three years

In case of Cash Credit: 1. Review or renewal of the limit should have been done on time during last 12 months and the copy of the sanction letter in respect of the same from the existing banker should have been obtained on record.

2. Statement of account in respect of cash credit limit for a period of minimum 12 months should be obtained. The said statement should be scrutinized and account should not have been overdrawn for a total period of 90 days or more during   period of last 12 months.

3. Duly acknowledged copies of the statements of stock, Debtors & Creditors for the period of last 6 months

Loan Limit

Repayment period:

   For Term Loan/Mortgage Loan

7 to 10 years including moratorium period

   For Cash Credit Limit/ Mortgage Overdraft Limit

12 months (renewable after every 12 months)