FUNDING ON PROJECT

Basic Terms

Type of fund : NRI Funds , Limit 50 to 500,5000 Crore
Loan against : Collateral ( commercial ,Residential, converted Green land)
Loan Ratio against collateral : 50-70% of the Land cost
Rate of Interest : 5-8% ( depend on type of collateral & Loan Value)
Service Charges : 6+2% (6% financier service charges+2% brokerage)
Loan term Period : 5-10 Year (depend on loan value and Type of Project)
Moratorium Period : 6 Month
Disbursement Time : 72 hour-one week from the date of agreement
Processing Time : 10-15 Days ( from the date of submission of all document)
Repayment Installment : Mthly/Qtly/Half Yly/Yearly ( Mutually decide at the time of agreement)
Advance : No any advance will be required

Process of the Loan

· After submission of the entire required document, file will be verify and check by the legal department of the financier. If found okay than they will require undertaking for the start of process with the penalty clause.
· After submission of undertaking legal valuation and search will be process by the financier. after completion of the process financier will provide sancton latter with mention of agreement date.
· As per decided date the borrower will present with the all original document at Delhi and collect original sanction latter and sign the agreement.
· After signed agreement financier will provide Xerox copy of prepared Demand draft ( that will be already prepared by the financier in borrower favour).
· Borrower can verify that demand by any type and any where . after the satisfaction borrower will deposited 3% amount with in 72 hours in to the financier a/c and produce deposit/RTGS/Cheque slip and collect original demand draft. After the collect original DD , rest 3% more will be deposit in again financier a/c and produce to financier. and get beck and deposited demand draft in thare owned a/c .
· After encashment of the demand draft rest 2% brokerage and commission cheque will be issued as per provided name by the borrower.

Required document for Loan
1 Company/Firm registration copy
2 Complete Land collateral with legal search and valuation ( not more than 6 month old)
3. Complete project financial and presentation report of the project certified by the engineer/CA
4. Last three year audited financial statement and ITR with company partner/director/proprietor
5. Complete bank details with the last 6 month bank statement
6. Company/Partner/Director Pan Card/Aadhar card/Address Proof,
7. Seal/Latter Head/Cheque Book
8. Previous investment details on project if any
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