Ratnakar Bank- Ratna Trade

Purpose of Loan:

To meet working capital requirement.

Eligibility:

Individual/ Proprietorship/Partnership/Company engaged in Wholesale/Retail trade, Distributors/commission Agents /C&F Agents/Professionals/Small Business/Civil/Govt contractors etc.

Quantum of loan:

Maximum Rs. 10 lakhs or 50% of value of property to be mortgaged (whichever is less.)

Rate of Interest:

Interest rate for Ratna Trade is at PLR.

Period of facility

1 year ( if operations / performance is satisfactory renewable on annual basis) )

Security:

Equitable Mortgage /Registered Mortgage of property in the name and possession of the borrower. Property in the name of spouse may be accepted as security by making the owner either co-borrower /Guarantor (Agriculture land, Non-N.A land should not be accepted.

Margin:

Minimum 50% of value of the property.

Processing Charges:

Rs 150/- per lakh or part thereof.

For more information: Website