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Scheme
UNION LIQUI PROPERTY
Eligibility
  • All business enterprises irrespective of constitution (Proprietorship/Partnership/Companies/Trust/Association etc) other than individuals and HUF engaged in business activity for minimum last two years.
  • Units should have in place all necessary statutory approvals / NOCs from respective authorities.
  • Credit Rating of the borrower should not be below UBI-5 in case of new connection and UBI-4 in case of takeover advances.
  • All new as well as existing accounts can be covered under the scheme.
  • Enterprises engaged in speculative activities/Real Estate activities are not eligible for finance under this scheme.
 
Purpose
  • To meet working capital requirements for business activity.
  • For Shoring-up of Net Working Capital
  • For purchase/construction/renovation of factory/ offices / shop / godown
  • For purchase of plant & machinery
  • For purchase of equipment. 
  • Financing repayment of high cost debts
 
Nature of Facility - Term Loan/Overdraft Facility.
 
Quantum of Finance -
  • Minimum Rs.0.10crore
  • Maximum Rs.10.00crore

(Further, higher delegation is vested with Credit Approval Committees at Central Office level as per Policy on Delegation of Loaning Powers)

 
Margin on Value of Property - 50% of the fair market value of the property as per valuation report i.e. value of property should be minimum 200% of the proposed loan amount.
 
Rate of Interest
Rating

Micro

Small

Medium

Others

CR-1

MCLR +1.90%

MCLR +2.15%

MCLR +2.40%

MCLR +2.90%

CR-2

MCLR +1.90%

MCLR +2.15%

MCLR +2.40%

MCLR +2.90%

CR-3

MCLR +1.90%

MCLR +2.15%

MCLR +2.40%

MCLR +2.90%

CR-4

MCLR +2.90%

MCLR +3.15%

MCLR +3.40%

MCLR +3.90%

CR-5

MCLR +2.90%

MCLR +3.15%

MCLR +3.40%

MCLR +3.90%

CR-6 & below

MCLR +3.40%

MCLR +3.65%

MCLR +3.90%

MCLR +4.40%


Updated as on 10.02.2017 (rate of interest is subject to revision from time to time)
  • Excluding additional credit risk premium for term loans
 
Security
  • Equitable Mortgage of residential / commercial / industrial property (Land & Building) located at Metro / Urban / Semi Urban areas only, which are un-encumbered from other bank / FI and should be enforceable under SARFAESIA.
  • The existing immovable property held as prime/collateral security for a particular credit facility can be accepted as prime/collateral security for other credit facility. However, the value of property to be considered for the purpose of prime/collateral security is to be restricted to the residual value of property in excess of 200% of the outstanding of the loan facility against which the property is held as prime security.
  • The property should be in the name and possession of applicant / proprietor / partners / directors /promoter.
  • Property in the name of close relatives i.e. father / mother / spouse / son / unmarried daughter of the proprietor / partner / director / promoter may also be accepted and in that case the property owner should stand as guarantor.
 
Guarantee
  • Personal guarantee of the partners / directors /promoters (Other than independent/professional director) to be obtained.
  • Personal guarantee of property owners to be obtained.
 
Repayment Period
  • Term Loan to be repaid in maximum 120 months inclusive of moratorium period not exceeding 6 months. Interest is to be paid as and when due.
  • Overdraft facility is for a period of one year. However, it may be further extended subject to review/renewal of the facility by competent authority on yearly basis.
 
* Conditions apply, for further details, please visit our nearest Branch
 
We are doing business from last three years with UNION BANK OF INDIA, C. G. Road Branch.
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