MAHA LAP – Mortgage Loan

Name of the Scheme

MAHA LAP – Mortgage Loan

Target Group

Traders, Manufactures, Businessman and Professionals engaged in trading, manufacturing or rendering services activity.

Nature of Facility

1. Fund Based: Term Loan or Drop-line Overdraft Facility.
2. Non-fund facility: May also be considered as part of total facilities sanctioned.  

Eligible Entities

Individuals, Sole Proprietorship, Partnership Firms, HUFs, Company, LLP, engaged in trading, manufacturing/processing or rendering service activity

Margin [LTV%]

Minimum margin shall be 50% on the realizable value of the property [LTV of 50%].

Quantum

• The minimum quantum of credit facility: Rs.10.00 Lakh.
• The maximum quantum of credit facility: Rs.20.00 Crore
• The maximum quantum of non-fund facility: Rs.10.00 Crore

Rate of Interest

RLLR based

Security

Primary security under this scheme will be immovable property (compliant under SARFAESI Act)

Repayment

• upto Rs.5.00 crore: Maximum repayment period of 7 years.
• above Rs.5.00 crore: Maximum repayment period of 10 years.

Processing Fees/documentation and other charges

As per extant service charges guidelines.