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National Toll Free No1800 425 00 000

IB Contractors

IB Contractors

Target Group

All well established contractors (Civil, Mechanical, Electrical etc) performing Contracts for Central / State Govt. / reputed PSUs / reputed Corporates, for a minimum period of 3 years and earning Net Profit at least for last two years.

Purpose

For carrying out work orders from various Central / State Govt. / reputed PSUs / Reputed Corporates.

Nature of Facility

  • Secured Overdraft against immovable property (Maximum limit: 50% of value of property) for working capital requirements.
  • Bills discounting facility for working capital requirements.
  • Term Loan to procure equipment / vehicles
  • Bank Guarantee
  • Letter of Credit

Amount of Loan

  • Minimum  : Above Rs 10.00 lac
  • Maximum : Rs 5.00 crore

Margin (Promoter’s Contribution)

  • 20% on cost of Equipments to be purchased out of loan
  • 15% for Bill discounting facility
  • 10% cash margin for Bank Guarantee / Letter of Credit

Repayment Period

Term Loan : Maximum 84 months including moratorium period.

Security

  • Secured Overdraft: Equitable Mortgage of Property with value not less than 200% of limit.
  • Term Loan: Hypothecation of Equipments purchased out of loan.
  • Bank Guarantee:
    • Cash Margin by way of pledge of Fixed Deposit Receipt.
    • Portion uncovered by cash margin should be covered with advance value of immovable property / other liquid securities like NSC, LIC Policy etc.
  • Letter of Credit:
    •  Cash Margin by way of pledge of Fixed Deposit Receipt.
    • Hypothecation of stock / goods purchased out of LC.
  • Bill Discounting facility : Undertaking from the debtors to make payment directly to the Bank.

In addition, Bank may insist for additional security on case to case basis.

Service Charges

Please refer home page for service charges.

Interest Rates

Please refer home page for latest interest rates.

 

( Last modified on Mar 21, 2019 at 12:03:04 PM )