INDORE BANK SHOPPE 

Eligibility :

Individuals / Firms / Partnership / Trust / Franchises.

Purpose :

For Purchase of new/old shops/establishment offices.

Modernisation/renovation/face lifting of shops.

Expansion/addition/alteration to shops.

Dealer's showroom.

Building for Training Centres, Service Centres.

Repairing Centre / Garage.

Building for Consultant/Chartered Accountants.

All furniture/fixtures, electrical fittings and other accessories required for the showroom/office/shop.

Quantum of Advances : Need based

Rate of Interest : 12.00% 

Security :

Primary Security :
Hypothecation/pledge/mortgage/assignment of property purchased out of bank's finance including non-industrial assets.

Collateral :
Third party Guarantee having adequate worth and/post dated cheques. 

Margin :

25% incase of new property and 40% in case of old property.

Up Front Fee : 1% of loan amount.

DSCR : Minimum DSCR 1.75

Repayment :

Repayment of loans between 3 to 7 years (excluding moratorium period of 6 months) No Pre-payment charges.

Takeover :

Take over of loans of other banks is permitted.

SWAROJGAR CREDIT CARD SCHEME

Eligibility:

Fishermen, Self employed persons, Rickshaw owners etc.

Objectives:

Composite Loan (Working capital and Term Loan) providing hassle free flexible and cost effective credit.

Quantum of :

Maximum Rs.25,000/- branches may consider issue of Advances cards for higher limits on merits.

Repayment:

Term loan within 5 years.

Security:

Hypothecation of assets created out of bank loan.

Margin:

Upto Rs.25,000/-:    Nil

Interest:

As per rate applicable from time to time, presently from 1.1.2004 for working capital 8.75% p.a. and for Term Loan 9.25% p.a. 

Others:                 Card issued is valid for 5 years.

                             Interest will be paid by bank on credit

                             balance in working capital account as per rate

                             applicable for S.B. Account.