SOD Against Property

Facility:                            Overdraft Limit

Eligibility:                         Individual or Firm


Development of existing business to Retail, Business Enterprises and Professional self-employed people.


Equitable mortgage of the collateral security of semi urban/urban property with 50% margin.

Rate of Interest:               12.00% PA

                                            Click here to know more.

Max Loan period:             1 Year (subject to yearly renewal)

Guarantor:                         Government Employee/ I.T Assessee

Repayment:                       Repayable on Demand

Interest method:               Diminishing Method

Loan Amount:                           

The working capital limits are provided to business, manufacturing, processing and service organizations within the frame work of RBI guidelines.

» 20% of projected sales including excise duty during the next one year of their business operations and » 5% should be contributed from the capital funds of the borrower.

» 75 % of the working capital Gap / day to day expenses incurred for running the operations of the unit.

» 50% of the Security offered by the borrower including movable and immovable Assets is to be considered. The margin may be relaxed to eligible units at the discretion of the Board of directors.

» Maximum ceiling of limits to Individual and group borrowers will be restricted as per exposure norms of the Bank decided by the Board of Directors from time to time.

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Basic Documents:                 

» KYC documents of Borrowers and Guarantors.

» Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.

» Title Deeds of the property offered as security

» Other Documents As required.

Processing Fees:                Nil

Terms & Conditions:          As per Bank’s Loan Policy.

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