Term Loan

Term Loan for :
1. Purchase of Office Equipment, Computers, Fixtures Fixed assets/ Renovating office premises.
2. For Construction of office premises on self-owned land/firm land/Promoter’s land.
3. For acquisition of ready built new office premises on ownership basis.

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Description

If you are a Chartered Accountant in Practice in India this offer is for you

Eligibility
Minimum Age: 25 Years, Maximum Age: 65 years
CA must have Certificate of Membership (CoM)/ Certificate of Practice (CoP) issued by ICAI. CoM/ CoP should be at least 5 years old.
ITR for past 3 years should be available.
The applicant must secure a minimum score of 50% as per score card under the scheme.
Applicant must be registered as MSME in UDYAM portal.

Loan amount: Min. Rs.2 Lakhs;
Max: (i) Metros: Delhi, Mumbai, Chennai, Kolkata, Ahmedabad, Bengaluru: Rs. 100 Lakhs
(ii) Other Centres: Max. Rs.75 Lakhs. (State Capital/ Urban Centres)

Assessment: 75% of the project cost.

Interest Rate: EBLR + 2.00 % ( Present Effective rate 8.65%)

Primary Security: Assets created out of bank finance.

Collateral Security: Loan to be covered under CGTMSE.

Personal Guarantee: Applicable. Personal guarantee of promoter (s) to be taken.

Repayment Period: Repayable in 60 EMIs. (With maximum moratorium of 12 months).

Processing Fee:
Up to Rs. 10 lacs: Rs. 500 plus applicable taxes
Above Rs. 10 lacs: Rs. 1000 plus applicable taxes

 

Offer detail source : https://www.icai.org/

This Offer is provided under CMP Benefits of ICAI

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