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Loans Products


Term Loan

We provide term loan for acquiring fixed assets like construction of building purchase of machinery /equipment, modernization /technology up gradation activity.

Working capital

We provide working capital for funding required level of current assets, employment of labour, power & fuel charges, other pre operative expenses to enable the units to carry on its operations at the expected level uninterruptedly.

Eligibility

Small industrial units, small retail tradition, professionals, self employed personals & small business enterprises.

Margin 25%

Interest Rate- Floating and linked with PLR

Security 

Primary- Hypothecations of stock in trade, receivables machinery, office equipments

Collateral- As per Bank’s extant guideline.

 

Purpose

Loan under Bank’s Housing loan scheme may be granted to individuals to enable them to

(a)  Purchase/contract of a new house/ flat.

(b)  Purchase of existing (old) house/flat (not more than 15 year old)

(c)  To expand/ repair/renovation or  alter an existing house /flat

(d)  Re-imbursement of investment made from our resources during the preceding twelve months for purchase of house property / constructions/ repairs /extension of house.

Eligibility

Individuals over 18 years of age with steady source of income, including persons engaged in agriculture and allied activities.

Repayment Period

Longest repayment period upto 25 years.

Margin

Very less margin of 15%*

* Note

Loan amount

For house construction

House for ready position

Up to 75 lac

20%

15%

Above 75 lac

25%

15%


Interest Rate

Lowest in the market i.e. 8.30% p.a.

Security

As per Bank’s extant guidelines.

Purpose

For purchase of new dream cars, MUVs (Multi Utility vehicles) & SUVs (Sports Utility vehicles)

Eligibility

Any individual and / or co-applicant if any together having net Annual income more than Rs.2.00 lakh I the age group of 21 years to 65 years.

Margin - 15%

Rate of Interest

Floating rate. Present effective rate is 10.70% p.a.

Repayment period

Longer repayment period of maximum 7 years.

Purpose

The scheme aims at providing financial support to meritorious students for pursing higher education in India. A meritorious student through poor is provided with an opportunity to pursue education with the financial support form the Banking system with affordable terms and condition.  

Eligibility

A term loan granted to Indian Nationals for pursuing higher education in India.

Course Eligible

Studies in India: (Indicative list)

  • Approved courses leading to graduate/ post graduate degree and P G diploma conducted by recognized Colleges/ Universities recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
  • Courses like ICWA, CA, CFA etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI, NIFT,NID etc.
  • Regular Degree/Diploma courses like Aeronautical, Pilot training, and Shipping etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India.
  • Approved courses offered in India by reputed foreign Universities.
  • Other job oriented courses leading to technical/ professional degrees, post graduate degrees/diplomas offered by recognized institutions under this Scheme.
  • Courses other than the above offered by reputed institutions may also be considered on the basis of employability.

Expenses Considered For Loan

  • Fee payable to College/ School/ Hostel
  • Examination/ Library/ Laboratory fee
  • Travel expenses/ passage money for studies abroad
  • Insurance premium for student borrower, if applicable
  • Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
  • Purchase of Books/ Equipments/ Instruments/ Uniforms
  • Purchase of Computer at reasonable cost, if required for completion of the course
  • Any other expense required to complete the course - like study tours, project work, thesis, etc
  • While computing loan required, scholarships, fee waive etc., if any available to the student borrower may be taken into account.

Loan amount

Maximum upto Rs.10.00 lakh

Security

Upto Rs.4.00 lakh – No security

Above Rs.4.00 lakh & upto Rs.7.50 lakh - Besides the parent(s) executing the documents as     joint borrower(s), collateral security in the form of suitable third party guarantee will be taken. 

Above 7.50 lakh - Parent(s) to be joint borrower(s) Tangible collateral security of suitable value acceptable to bank, along with the assignment of future income of the student for payment of installments.

Margin

Upto Rs.4.00 lakh- Nil

Above Rs.4.00 lakh- 5%

Repayment

Repayment will commence one year after completion of course or 6 months after getting job whichever is earlier.

Repayment of the loan will be Equated Monthly Installments for periods as under:

For loans upto Rs.7.50 lakhs – up to 10 year

               Above 7.50 lakh - up to 15 year.

Rate of Interest

Floating rate linked to PLR of Bank.

Security

As per Bank’s extant guidelines

Purpose

Agriculture Term Loans are sanctioned for purchase of new tractors, accessories and implements.

Eligibility

Any individuals or group of individuals i.e. JLGs /SHGs Institution or organizations are eligible for finance which will have minimum net income of Rs.1.50 lakh per annum.

Borrower should posses a minimum land holding of 2 Ac.(Irrigated) or 4 Ac. (Non-irrigated).

Margin

15%- Security in the shape of Mortgager /land valued at least 100% of loan amount

20%- 30% of security in the form of gold ornaments /Term Deposits/ NSCs

50%- Without collateral

Rate of Interest

11.50%- (i) Security in the shape of Mortgager /land valued at least 100% of loan amount

11.25%- (ii) 30% of security in the form of gold ornaments /Term Deposits/ NSCs

12.00%- (iii) without collateral

KISSAN CREDIT CARD

Purpose

To provide hassle free Short Term Crop loan to farmers at a very low interest.

Eligibility

1)    All farmers- Individuals/ Joint Cultivators

2)    Tenant farmers, Oral lessess and Share croppers etc.

3)    SHG & Joint Liability Group

Quantum of Loan     

Quantum of loan for 1st year will be assessed on the basis of Cost of cultivation, post-harvest expenses and farm maintenance cost. For subsequent 5 year loan will be sanction on the basis of increase in scale of finance

Collateral Security

Collateral security is waived for KCC limit upto Rs.1 lac.

Collateral security in the form of Agriculture Land for KCC limit above Rs. 1 lac.

Rate of Interest

Interest @ 5% p.a. will be charged for one year or upto the repayment due date, whichever is earlier. In case of non-repayment within the due dates interest is applied at card rate. Beyond due date interest will be compounded half yearly.

Interest Subvention

Govt of India & Govt of Odisha is giving 2% interest subvention each for loans up to Rs. 3.00 Lakh.

Govt of odisha is providing additional interest subvention of 1%over and above the 2% subvention for loans up to Rs.50,000/-

Govt of India is providing 3% additional Interest subvention to prompt repaying farmers.

Repayment

The repayment period may be fixed as per the anticipated harvesting and marketing period for the crops for which a loan has been granted.

Agri Gold Loan for crop production

Purpose

Easy and hassle free loan for short term crop production against gold ornament, Effective interest rate is as low as 4%

Eligibility

All farmers engaged in that term crop production.

Margin

As per the LTV fixed by the Bank

Rate of Interest

Up to Rs.3.00 lakh – 7% p.a. (During interest subvention period)

Above Rs.3.00 lakh- 12.50%

Note:- 12.50% p.a. interest will be applicable on outstanding amount after interest subvention period.

Collateral Security

Pledge of gold ornaments.

Criteria Interest subvention

  • The borrower should be an agriculturist
  • The amount of loan is fixed according to the prescribed scale of finance of Crop grown and the loan is used for the stated purpose.

Multipurpose Gold Loan

Purpose

Easy and hassle free loan for medium loan/ long term agriculture activities /allied activities.

Eligibility

Any person engaged in agriculture/ allied activities

Margin

As per the LTV fixed by the Bank

Rate of interest

Floating rate present at 10% p.a.

Collateral Security

Pledge of gold ornaments.

Repayment

  • Over Draft: It is a running account for a period of 3 years subject to review at annual intervals.
  • Demand Loan: 12 months from the date of disbursement of the loan in case of short term loan/production loan.
  • Term Loan: 36 Months

Purpose

Easy and hassle free loan for any purpose other than agriculture against pledge of gold ornaments.

Eligibility

Any individual with steady source of income (No proof of income required)

Margin

As per the LTV fixed by the Bank

Rate of Interest

Floating rate. Present effective rate 13.50% p.a.

Collateral Security

Pledge of gold ornaments.

Purpose

To provide a continuous hand holding support to the institution of poor for a period of 5 to 7 years till they come out of abject poverty

Eligibility

ü  Women SHGs under NRLM /OLM consist of 10-15 persons.

ü  In case of special SHGs i.e. Groups in the difficult areas, Groups with disabled persons and Groups formed in remote tribal areas, the number may be a minimum of 5 persons.

ü  NRLM /OLM will promote affinity based Women Self-Help Groups.

ü  SHGs of disabled persons and other special categories like elders, transgender, NRLM will have both men & women.

Rate of Interest

In 14 IAP (Intensive Action Plan)(Category –I Districts)  districts interest will be charged on the loans to the Women SHGs group @7% for limit up to Rs.3,00,000/- i.e. for loans above Rs.3 lakh  interest will be charged at the normal rate of interest as applicable to SHG.

In non IAP districts 12.50% (1% below the Bank’s PLR) at monthly rest, subject to changes as and when advised by the Bank.

Interest Subvention

Govt of India is giving 5.5 % interest subvention each for loans up to Rs. 3.00 Lakh.

Govt of India and Govt of Odisha is providing 3% additional Interest subvention each to prompt payee SHGs.

Purpose

To finance new four wheeler via Jeep with trolly, Delivery van, Auto Rikshaw, Light Commercial vehicles, Bus, Mini Bus of liner seat capacity tracker, Tractor with trolly engaged in transport of goods etc. Mini truck/ truck slipper.

Target Group

Individuals group of individuals including Partnership/ Proprietary firms and cooperative enterprises

 Eligibility

  • The vehicle should be utilized as “public goods / passenger carrier”.
  • The borrower should possess experience in transport line as a driver or alternatively could employ or associate an experienced Driver. The borrower or employee should have a valid driving license and a permit to operate the vehicle.
  • Transport Operators holding valid route permit and willing to exclusively Bank with us.
  • Refinance is available only for acquisition of new vehicle(s) to be operated as ‘Public Carriers’ or ‘Contract Carriers’.
  • Vehicles financed to Merchants, warehouses, Building Contractors for their own business are ineligible for refinance.
  • Persons having good integrity and preferably unemployed youth having above requirements should be considered for financing.

 Facility

Term Loan

 Margin – 15% of the cost of the vehicle

 

Rate of Interest

 Very attractive interest rate

Repayment

Loan is repayable in equated monthly installments maximum within 5 years.

Rate of Interest - Loans ?

Rate of Interest - Deposits ?

NTG Finance ?

Contact

06652 232285
chairman.ugb@gmail.com