- The eligibility of loan amount depends upon various factors like nature of the project / borrower /promoter’s back-ground / value of the account / cash-flow projec-tions/collateral security etc., acceptable to the bank.
- We finance up to a maximum of 80% of the project cost.
- Interest rates shall be based on various factors like LVR, repayment period, credit history etc.
- The repayment period of the loan depends upon various factors like nature of the pro-ject / borrower / promoter’s back-ground / experience in the field / value of the account / cash-flow projections/collateral security etc., acceptable to the bank subject to maxi-mum period of 10 years including the moratorium period.
- Maximum of 24 months from the date of first disbursement. Interest during moratorium period is to be service
- Formal Application stating the amount, purpose, tenor, source of repayment and pro-posed security.
- Financial card number for the borrower
- Third party guarantee of persons with adequate worth. (Can be waived at the discretion of BOIUL depending on the standing of the borrower).
- Mortgage over the property / assets financed by the Bank. Additional security may be required based on the type of project, quantum of loan, experience of the promoters etc.,
- Personal/corporate/trust guarantee as required by the bank.
- BOIUL must be noted as an interested party on the insurance policy of the property. Any deviation in terms would need approval of sanctioning authority on merits.
- Audited accounts for at least three financial years, prepared by a Certified Public Ac-countant, with an unqualified opinion.
- Management Accounts for the most recent concluded month.
- Projected Cash flows for the period of financing.
OUR EXCHANGE RATE
