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oriental business loan scheme

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  • Eligibility
    Eligibility
    • Trading
    • Manufacturing and Service Enterprises(Both priority & Non priority)
    • Contractors /Commission agents
    • Authorized Service Centre / Service Sector viz. Hotels, Guest Houses, Call centers etc.
    • Loan to Professionals & self employed and borrowers covered under all priority sector schemes.
    Purpose
    • Trading
    • Manufacturing and Service Enterprises(Both Priority & Non priority)
    • Contractors /Commission agents
    • Authorized Service Centre / Service Sector viz. Hotels, Guest Houses, Call centers etc.
    • Loan to Professionals & self employed and borrowers covered under all priority sector schemes
    Purpose not Covered

    The loan shall not be granted for:

    • Speculative prohibited by Law purpose.
    • Real estate/capital market/ investment in or for giving loans to associate/group/sister concerns.
    • Loans to Builders/ Property dealers/ Real estate agents
  • Finance
    Nature of facility
    • Overdraft limit for working capital purpose.
    • Term Loan/Demand Loan.
    • Non fund based limit.
    Loan Limit

    Maximum loan upto ₹ 7500.00 Lacs (including fund and non fund based limits) as per prevailing Discretionary Power

    MPBF Calculation
    • Assessment of Working Capital Finance 50% of the realizable value of the property* OR 20% of the estimated annual sales/income * Wherever the financial statement are available. However, if the party is not maintaining proper financial statement, such as commission Agents, Doctors, Professionals etc. then 4 times of annual income (subject to cash flow/repaying capacity)*.
    • Assessment of Term loan: 50% of the realizable value of the property* OR 75% of the assets to be created out of term loan.*
      *Whichever is less
    Service Charges
    • Working capital- ₹ 100.00 per Lac +Service Tax, if any.
    • Term / Demand loan - 0.50% upfront fee of Loan Amount + Service Tax
  • Security and Margin
    Primary Security
    • Mortgage (Registered or Equitable) of immoveable property(s)/ Factory Land & Building and / or any other property (Land & Building) standing in the name of Borrower/ individual/joint owners/ promoters, viz. Proprietor/ Partners/ Directors/close relatives (Viz. Spouse,Spouse’s parents, Father, Mother, Brother, Brother’s wife, sister, son, son’s wife, daughter) or business concern 100% owned by the owner / such close relatives who will also stand as Guarantors.
    • Hypothecation of stock and Book Debts.
    • Hypothecation of assets created out of Banks finance.
  • Rate of Interest
    ROI

    MCLR+2.25%. (Both TL & OD) loan up to ₹ 5.00 crore. However, above ₹5.00 crore shall be linked to rating and category/conventional category of advance.

    Repayment Period
    • Overdraft: 12 months subject to annual review.
    • Term Loan/Demand Loan: Maximum upto 84 months including moratorium period of maximum 3 months (depending on repayment capacity – Repayable on EMI basis
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