SBI SHOPPE
| Purpose |
|
| Eligibility | Individuals/Firms/Partnership/Trust/ Franchisee |
| Mode of financing | Medium Term Loan |
| Repayment | 3 to 7 years including moratorium period of 6 months |
| Amount | Minimum BDT 5.00lac amd maximum BDT 40.00lac |
| Margin | 30% (for old property 40%) |
| Interest | Loans may be given both on a fixed or a floating rate basis, as per interest rate prevailing from time to time. Branch Manager may have discretion to reduce the interest rate by 1% p.a. |
| Security | Primary- Hypothecation /pledge/ mortgage/ assignment of property purchased out of Bank’s finance including non-industrial assets. In case of leased/ rented property, NOC/ No Lien letter from lessor/ land-lord respectively, required. |
| Takeover | Permitted subject to observance of takeover norms laid down by bank. |
| DSCR | Minimum 1.75 |
| Credit | Customer may default in repaying the loan | A minimum upfront margin of 30% is being maintained. The House/ flat financed out of Bank finance is registered mortgaged in favour of SBI with the respective sub-registrar office. In case of default the House can be seized and auctioned for recovery. |
