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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(Presently effective rate starts from  9.50% p.a.)

 

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

 

For salaried : Floating and linked with PLR(Presently effective rate 6.75% p.a.)

For Non-salaried : Floating and linked with PLR(Presently effective rate 6.90% p.a.)

 

PROCESSING FEES: NIL (waived upto 31.03.2022)

 

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 9.95% 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.

 

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

 

10.75%- (i) Security in the shape of Mortgager /land valued at least 100% of loan amount

 

10.50%- (ii) 30% of security in the form of gold ornaments /Term Deposits/ NSCs

 

11.25%- (iii) without collateral

PURPOSE: Any purpose other than speculative.

ELIGIBILITY: All  existing  Home  Loan  customers  with  a satisfactory repayment record of at least one year provided possession of the house has been taken by the customer and valid mortgage has been created in favour of the Bank.

LOAN AMOUNT:

 Minimum Rs.  50,000/ and maximum Rs. 10.00 lacs.

TENURE:

The tenure of the loan should be co-terminus with the original residual maturity of the Housing Loan or  the option exercised by the borrower, whichever is  earlier, subject to liquidation of the loan before  borrower attains the age of 70 years.

NATURE OF FACILITY:

Term Loan/ Overdraft with reducing drawing power

INTEREST RATE (BOTH FOR TERM LOAN/OVERDRAFT):

FOR SALARIED : Floating and linked with PLR(Presently effective rate 6.75% p.a.)

FOR NON-SALARIED : Floating and linked with PLR(Presently effective rate 6.90% p.a.)

PROCESSING FEES: 0.50% of the loan amount.

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 8.00% 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

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

 Floating and linked with PLR(Presently effective rate starts from  9.50% p.a.)

 

 REPAYMENT

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

 


PURPOSE

It is a general purpose loan/ line of credit. The purpose of loan will have to be specified along with a simple undertaking that the loan will not be used for any speculative purpose, including speculation on real estate and equity shares.

ELIGIBILITY

             Any individual who is over 21 years of age with a steady source of income, including professional, self-employed, persons engaged in agriculture and allied activities and customer of other segments (like contractors, traders, industrialists, etc.) However, care should be taken that the loan is sanctioned only in the name of individual(s) and not in the name of the firm/company. The maximum age limit is 65 years.

 

         CIBIL score minimum 650 with no overdue in any Bank/ FI of the borrower(s).

 

MARGIN

50% of the market value of the property.

 

Rate of interest

Floating and linked with PLR (Presently effective rate 9.00% p.a.)

Repayment

TERM LOAN : The repayment by way of equated monthly installments on the basis of current rate of interest would be fixed for a maximum period of 84 months, preferably with check-off facility in case of salaried persons.

Where check-of facility not available, NACH Mandate OR post dated cheques should be obtained and appropriate arrangements should be made at the branch for safekeeping and diarizing for presentation of the cheques in clearing on due dates.

In case of borrower other than salaried, cash flow and cash accrual to be ensured for timely repayment of interest and instalments. Before sanction of the loan the sanctioning authority should be well convenience with the expected cash accruals which should be sufficient to mitigate the repayment obligation of the borrower

PURPOSE

i) For build-up of current assets and fixed assets needed for business purpose, capacity expansion, modernization, short term working capital etc.

ii) Creation/acquisition of real estate such as office buildings, retail space, residential building, industrial or warehouse space, multiplex, hotels, restaurants, gymnasium, amusement parks, cold storage etc where the prospect for repayment would generally be lease or rental payment or sale of asset.

ELIGIBLE CUSTOMERS

i. Existing Customer already availing credit facilities from us.  

ii. New units with marketable assets to offer as security.  

iii. Takeover of existing units from other Banks/ FIs with satisfactory track record.

(Credit Information Report to be obtained)

MARGIN

25% margin on Project Cost for fixed asset/CRE requirement.

RATE OF INTEREST

Floating and linked with PLR (Presently effective rate  starts at  9.50% p.a.)

 

REPAYMENT

Drop-line Overdraft:  Limits can be sanctioned for period of 12  months to 84 months with either Equated Reduction in limit or customized reduction in limit depending upon the cash accruals.

The drawing power shall be reduced monthly so as to have the overdraft fully liquidated at the end of the period. 

- Regular transactions are permitted upto drawing power available.

- No over-drawings permitted.

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.

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 linked to PLR. Present effective rate 9.00% p.a.

 

COLLATERAL SECURITY

 

Pledge of gold ornaments.

 

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 8.00% 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

 

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Contact

06652 232285
chairman@ukgb.in