Falling under priority sector lending, this credit facility is extended to MSMEs into the business of construction. It is offered over the immovable property owned by the entity. Money is given for the purpose of construction & development of small scale residential projects.
MSME Construction Loans
Overview :-
Tenure Up to 4 Years
Loan Amount Up to INR. 1.00 Cr.
ROI 18% Onwards
- Minimum & Hassle-Free Documentation
- Balance Transfer Facility
- Finance amount based on Collateral Security
- Amount is released depending upon the completion of work at each stage
- LTV Up to 65%
If self employed, documents required:
- Application form with a recent photograph along with Login Fee Cheque
- Proof of Residence: Any one of Ration Card / Telephone Bill / Electricity Bill / Voters Card
- Proof of Identity: Any one of Voters Card / Driving License / Employers Card
- Latest Bank Statement / Passbook of all banks
- Latest 3 Months Salary Slip with all deductions & Form 16 for the last 2 years.
- Copies of All the Property papers along with complete back chain papers
- Construction Estimate for the proposed Construction
- Income Tax Returns for last 3 years
- Certified Financial Statements for last 2 years
- Stamp duty & Other charges as applicable