Loan SME’s Against Commercial and Residential Properties – IDBI Bank Property Power

The Product aims to cater to the needs of MSME segment by way of providing loan against commercial and residential properties owned by them. The end use of the loan would be for various business related purposes or to take care of any financial requirements viz., retiring of high cost debt, balance transfer/ takeover or any other business exigencies.

Features of IDBI Bank’s ‘Property Power’ product are as below: 
 

Sr. No.

Field

Content

1

Eligible Segments

  •  Proprietorship, partnership, public and private limited companies engaged in the business for the last 3 years

2

Facility

  •  Term Loan/ Overdraft limit to fund business needs (excluding for speculative purposes)

3

Loan Amount

  •  Minimum: Rs. 5 lakh
  •  Maximum: Rs. 500 lakh

4

Tenor

  •  Term Loan: Max 7 years
  •  OD: Max 12 months

5

Pricing

Linked to Bank Base Rate and Rating

6

Security

  •  Equitable Mortgage or Registered Mortgage of Residential / Commercial property

7

Guarantee

Personal guarantee of the borrower

8

Processing Charges

Upto 1 %

About

IDBI Bank Ltd. is a Universal Bank with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of Branches and ATMs, spread across length and breadth of India. We have also set up an overseas branch at Dubai and have plans to open representative offices in various other parts of the Globe, for encashing emerging global opportunities. Our experience of financial markets will help us to effectively cope with challenges and capitalize on the emerging opportunities by participating effectively in our country’s growth process.

IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients. The Bank had an aggregate Balance sheet size of Rs.3, 28,997 crore and total business of Rs.4,33,460 crore as on March 31, 2014. IDBI Bank's operations during the financial year ended March 31, 2014 resulted in a net profit of Rs. 1121 crore

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon