| Purpose of Facility |
This facility can be availed for the following purposes:-
1. (BOP AD-1) For Purchase / Acquisition of commercial / industrial property.
2. (BOP AD-2) For Construction on owned and possessed commercial / industrial premises / plot.
3. (BOP AD-3) For Renovation of owned and possessed commercial / industrial property (ies)
|
| Target Market |
1. Sole Proprietorships / Partnerships / Limited Companies.
2. SME Traders / Industries / Manufacturers.
3. Service industry like hospitals, restaurants and educational institutions.
4. Self-employed Professionals like doctors, IT and finance professionals etc..
|
| Eligibility Criteria |
• Business/ operational profit for at least 3 years.
• No adverse e-CIB or market checks.
• No past defaults
• Should not be engaged in any type of volatile / speculative / high risk / undesirable nature of businesses.
|
| Minimum Loan Limit |
Rs. 0.5 million
|
| Maximum Loan Limit |
Rs. 200 million (For BOP AD-3 max financing is 10 M).
|
Loan Entitlement
(Lowest of the factors) |
BOP AD-1:
On the basis of 50% Debt Burden in Cash Flow Projections as per Audited financials/Income estimation
OR
70% of assessed market value of property (which ever is less)
BOP AD-2:
On the basis of 50% Debt Burden in Cash Flow Projections as per Audited financials/income estimation
OR
70% of (BOQ + plot value)
OR
Amount of BOQ (which ever is less)
BOP AD-3:
On the basis of 50% Debt Burden in Cash Flow Projections as per Audited financials/Income estimation
OR
25% of assessed market value of property
OR
Rs. 10 M (which ever is less)
|
| Tenure |
The minimum tenure will be 02 years while the maximum tenure will be 15 years.
|
| Down Payment |
Minimum 30% under BOP AD-1
|
| Frequency of mark-up repayment |
Monthly
|
| Security to avail BOP Apni Dokan |
The commercial / industrial property (ies) being financed will be used to secure the facility.
|
| Insurance |
No Life Insurance is required.
Property Insurance against fire, RSD etc. and/or the risk mentioned in the sanction advice.
An undertaking from borrower will be obtained that in case of death his/her legal heirs would be liable to pay bank's outstanding liabilities.
|
| Documentation Charges |
Actual cost of revenue and special adhesive stamps
|
| Legal Charges |
Actual and approved charges of lawyers on the bank’s approved panel
|
| Valuation Charges |
Actual and approved charges of valuators on the bank’s approved panel
|
| Pricing / Mark-up |
As per prevailing market rates
|
| Processing Fee |
As per SOC (at the time of acceptance of FOL)
|