LOGO

ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

(Sponsored by Government of Arunachal Pradesh)

Head Office :: D-Sector, Naharlagun, District : Papum Pare, Arunachal Pradesh - 791 110

NSTFDC     CMFMP     Micro Finance SHG

PROFESSIONAL LOAN

A comprehensive loan product specially designed for professionals and self-employed persons for assistance to establish new or upgrade the existing business units.

Purpose
For improvement/expansion of existing business.

Eligibility
Individuals, proprietorship, partnership concerns, firms & private Ltd., Companies, engaged in any profession, self-employment, service sector (Other than trading, processing and manufacturing units & transport operators).e.g. Chartered Accountants, Doctors, Practicing company Secretaries, Architects, Consultants, Institutions providing education/training, coaching classes, interior decorators, which are required by community and not prohibited by law or opposed to public interest.

Maximum amount
The maximum loan amount would not exceed Rs.15.00 lakhs only per unit.

Margin Money

  • Minimum 25% of the project cost should be brought in by the applicant.
  • The total exposure i.e. both fund and non-fund based should not exceed the limit sanctioned.

Period of Loan & Repayment
The maximum repayment period is 60 months.

Rate of Interest
12-13% per annum depending upon the quantum of loan amount on reducing balance system.

Penal Interest
2.00% on the Overdue amount of over and above the normal rate of interest.

Security

  • Hypothecation/Mortgage of the asset infavour of the Bank which must be registered with concerned office.
  • A Suitable third party guarantee preferably a Govt. Employee must be obtained up to Rs.5.00 lakhs only .
  • For a loan amount exceeds Rs. 5.00 Lakhs a collateral security of immovable property to the extent of 150% of loan amount based on guidance valuation must be obtained in addition of guarantee by a third party.

Processing Fee
1% pa on the loan amount.

Overdraft
12 Months subject to annual review.

Term Loan
Maximum 60 EMI (depending on the repayment capacity)

Security
Collateral Security of urban immovable property mortgaged to the Bank with 200% value of the limit sanctioned based on guidance valuation.

Hypothecation of assets acquired out of loan amount.

Limit
Maximum : Rs. 100.00 Lakhs

Rate of Interest
14.00% per annum.

Penal interest
2% will be charged on overdue amount.

Processing Charges
1% of limit sanctioned. 

Pre-Closer Charges
1.00% on outstanding balance.

The terms and conditions mentioned above are only illustrative. The Bank may ask for any additional documents/ information’s depending on the history and track records  of applicant with the Bank.