S.T. LOAN AGRICULTURE KISAN CREDIT CARD

ST ADVANCES TO(VKS STY, CONS, STY, MKT STY & OTHER PRIORITY UNITS)

LT/ MT LOAN FOR PRIORITY/ AGRI. ALLIED SECTORS

M.T. LOAN UNDER NON- FARM PRIORITY SECTOR (SSI, KVIC, COTTAGE/ VILLAGE IND. & OTHER PRIORITY)

LOAN TO SELF HELP GROUP

M.T. LOAN FOR PRIORITY SECTOR (UNDER SRWTO)

Eligible borrower:

• Individuals, partnership firms or companies engaged in road and water transport.

Security :

• Hypothecation of Vehicles/Barge/ Vessel, Passenger Launch, etc. Any tangible asset owned by loan applicant/proposed sureties, having sufficient value commensurate with the amount of loan and which are easily marketable (immovable property, deposits, LIC policies, NSCs, KVPs, vehicles, etc.).

Sureties :

• Two guarantor

Margin :

• Vary from 10% to 25% depending upon the nature of activities undertaken by Borrower, if margin money paid in advance to the dealer stamp receipt should be produce.

Amount of Loan :

• Up to 75% of the project cost and subject to credit exposure limit.

Rate of Interest :

Repayment Period :

• Normally 7 years maximum. However, the repayment period may be changed depending on the feasibility of the project, age of the borrower, durability of the security.
• Experience in the concerned line of activity, Deployment letter of the Vehicle.
• Project Report/quotations/estimates, permission/license/approvals from competent authorities like Director of Road Transport, Capt. of Ports, Port Authorities, etc. wherever applicable, True copy of Driving license, true copy of route permit if any in case of (bus).
• Copies of B/S, P/L A/c, I.T. Returns for last 3 years in case of already existing unit.
• Valuation of Vessel/Vehicles/Barge, Launch, latest survey reports in case of Barge/Launch.

Documentation:

• Photograph
• Proof of identity, Pan Card, Aadhar Card, Voter ID Card/ Pass Port
• Loan Application in prescribed form.
• Joint & Several Demand Promissory Note.
• Agreement for loan.
• Agreement for mortgage/Hypothecation/Assignment of LIC Policies or any other tangible security acceptable to the Bank.
• Agreement for salary deduction u/s 45 of Goa Co-op Societies Act 2001 if borrower/surety is/are salaried persons.
• The financed vehicle/barge/launch/securities should be comprehensively insured against all possible risks.
• Any other document depending on the purpose/security of the loan.
• RTO form i.e. Form no. 29, 30, 34 & 35.
• RC Book, Insurance Copy & Key should be obtained by the Bank