Aryavart Bank

Scheme Name

ARYAVART ANNAPURNA LOAN SCHEME

Eligible Borrower

Salaried Employees of Govt./Govt. aided Schools/Colleges/Educational Institutes and Govt./Semi Govt. Departments maintaining their salary accounts with our Branches. Maximum Age of Borrower should be 55 years if retirement age is 60 years or 57 years if retirement age is 62 years.

Co-Borrower

-

Purpose

To meetout consumption expenses.

Quantum of Loan

Maximum upto Rs. 10.00 Lakh

Margin

-

Repayment

In 60 months.

Eligible Quantum of Loan/EMI

> For Permanent Employees having Gross Monthly salary upto Rs. 0.75 Lakh: 20 times of Gross Monthly salary or maxiumum Rs. 5.00 Lakh.
> For Permanent Employees having Gross Monthly salary above Rs. 0.75 Lakh upto Rs. 1.00 Lakh: 20 times of Gross Monthly salary or maxiumum Rs. 8.00 Lakh in the form of 50-50% TL & OD Limit.
> For Permanent Employees having Gross Monthly salary above Rs. 1.00 Lakh: 20 times of Gross Monthly salary or maxiumum Rs. 10.00 Lakh in the form of 50-50% TL & OD Limit.
> For Probationary Employees: 20 times of Gross Monthly salary or maxiumum Rs. 2.00 Lakh.

Net Take Home Pay/DSCR

Minimum 35% of gross monthly salary/income

Security

Primary

> Pledge of Reccuring Deposit in case of OD Limits sanctioned under the scheme.

Collateral

> Third Party Guarantee of two permanent employees is required.
> Other Collateral Security may be requested depending on case to case basis.

Mode of Repayment

In Case of Term Loan in monthly EMIs whereas in case of OD Limit interest to be repaid as and when applied.

Scheme Name

ARYAVART AUTOFIN LOAN SCHEME

Eligible Borrower

Salaried employees, Professionals, Self-employed Salaried employees, Professionals (Age of the individual borrower not to exceed 65 years at the time of availing the advance) Companies, Partnership Firms, Proprietary concern and other types of Corporate entities.
(HUFs not Eligible)

Co-Borrower

-

Purpose

Purchase of two/four wheeler vehicles (not requiring heavy duty license).
For purchase of used/second hand 4 wheeler.
(age of the old vehicle not to be exceed 3 years)

Quantum of Loan

-For New 4 Wheeler = Maximum Rs. 50.00 Lakh
-For 2 wheeler = Rs. 1.00 Lakh.
-For old 4 Wheeler = Maximum Rs. 10.00 Lakh

Eligible Quantum of Loan

>For Salaried Employee: 24 times of gross monthly salary or 75% of (Cost of Vehicle+Registration+Insurance Premium)
>Self Employed/Professional: 2 times of gross annual income as per ITR  or 75% of (Cost of Vehicle+Registration+Insurance Premium)
>Prop. Firms/Partnership Firms & Corporates: 2 times of cash accrual i.e. (PAT+Depreciation) as per Balance Sheet & P&L or 75% of (Cost of Vehicle+Registration+Insurance Premium)

Margin

-For 4 wheeler : 25% of (Cost of Vehicle+Registration+Insurance Charges)
-For 2 wheeler : 15% of (Cost of Vehicle+Registration+Insurance Charges)

Repayment

-For New 4 Wheeler  = Maximum 84 Months
-For 2 wheeler           = Maximum 60 Months
-For old 4 Wheeler    = Maximum 36 Months

Net Take Home Pay/DSCR

-Minimum 35% of gross monthly salary/income.
-DSCR in case of non-individual borrowers: 1.50 : 1

Security

Primary

-Hypothecation of vehicle to be purchased out of Bank finance.
-Charge to be registered with RTO.

Collateral

-Third party guarantee required.
- Other Collateral Security applicable where loan amount is greated than Rs. 25.00 Lakh. Collateral Security of minimum 50% value of Loan amount is required.

Mode of Repayment

Monthly EMI

Scheme Name

ARYAVART COLD STORAGE LOAN SCHEME

Eligible Borrower

Individuals, Proprietary Firms, Partnership Firms, Private & Public Limited Companies, LLPs and Trust etc. are eligible to avail loan facility for establishing cold storage unit.

Co-Borrower

-

Purpose

i. Term Loan - For establishment/construction of new units or renovation/enhancement of existing units) or Puchase of Cold Storage
 ii. Working Capital Limits -
  a. Clean Overdraft Limit-I - For Onward Lending to Potato Growers/Farmers   b. Clean Overdraft Limit-II - For meeting out unit running expenses

Quantum of Loan

Maximum 75% of Project Cost. Quantum of Loan is also related to the storage capacity of Cold Storage.

Margin

Minimum 25%

Repayment

i). Term Loan: Maximum repayment period of 9 years is allowed excluding maximum moratorium period of 18 months.
ii). Working Capital Overdraft Limit for Onward Lending: Interest to be paid as and when charged
iii). Working Capital Overdraft Limit for running expenses: Interest to be paid as and when charged

Net Take Home Pay/DSCR

DSCR: Minimum level of 1.50:1
ISCR: Minimum level of 1.50:1

Security

Primary

a). Equitable Mortgage on Land and existing/proposed Building of Cold Storage.
b). Hypothecation of Plant & Machinery.
c). Hypothecation of Assets created out of Bank Finance/Receivables/Book Debts arising out of advances/onward lending to farmers for storage of agricultural commodities.

Collateral

a). Personal Guarantee of Promoters/Directors/Third party guarantors.
b). Equitable Mortgage on Residential/commercial properties, if available.
c). Pledge of DBDs or any other liquid security, if available.
d). Collateral security to be explored in all cases.

Mode of Repayment

In Case of Term Loan in monthly EMIs whereas in case of OD Limit interest to be repaid as and when applied.

Scheme Name

ARYAVART HOUSING LOAN SCHEME

Eligible Borrower

Salaried employees, Professionals, Self-employed persons.
(Age of individual borrower not to exceed 55 years at the time of availing the advance)
Companies, Partnership Firms, Proprietary concern

Co-Borrower

Allowed with restrictions.

Purpose

-To purchase/construct house/flat
-To renovate/extend/repair existing house/flat.
-To purchase a plot of land for construction of house
-Takeover of home loan from other banks/FIs- subject To conditions.

Quantum of Loan

-For purchase/construction/flat/ purchase of land for construction of house  =  Maximum Rs. 100.00 Lakh
-For repair of existing house/flat = Maximum of Rs. 5.00 Lakh
-For renovate existing house = Maximum of Rs. 2.00 Lakh
subject to conditions

Eligible Quantum of Loan

-For Salaried Employee: 72 times of gross monthly salary or 6 times of gross annual income as per ITR
-Self Employed/Professional: 6 times of gross annual income as per ITR 
-Prop. Firms/Partnership Firms & Corporates: 6 times of cash accrual i.e. (PAT+Depreciation) as per Balance Sheet and P&L

Margin

20% to 25% subject to conditions

Repayment

Maximum in 25 years including maxumum moratorium of 18 months in case of construction of house.

Net Take Home Pay/DSCR

> Minimum 35% of gross monthly salary/income

Security

Primary

> Mortgage/Equitable Mortgage (1st charge) on land/flat/house.

Collateral

> Third Party guarantee
> Other Collateral Security applicable where possession & title transfer of title of Flat/plot is due after certain time period.

Mode of Repayment

Monthly EMI

Scheme Name

ARYAVART RURAL HOUSING LOAN SCHEME

Eligible Borrower

Individuals engaged in Agricultural/Business/Professional Activities in Rural Areas. Age of Individual not eceeding 60 years at the time of availing the advance.

Co-Borrower

Applicable where Agri-land owner is older than 60 years.

Purpose

For construction/renovate/repair House.

Quantum of Loan

> For Construction of House: Maximum Rs. 3.00 Lakh where EQM is available OR Maximum Rs. 1.00 Lakh where 6(1) of Agri Land is available.
> For Repair/Renovetion : Maximum Rs. 50000/-

Eligible Quantum of Loan

4 times of gross annual income or maximum loan limit i.e. Rs. 3.00 Lakh or Rs. 1.00 Lakh or Rs. 0.50 Lakh.

Margin

Minimum 25% of Project cost

Repayment

Maximum 9 Years including moratorium of 6 months in case of construction of house.

Net Take Home Pay/DSCR

Minimum 35% of gross monthly salary/income

Security

Primary

- For Loan Upto Rs. 1.00 Lakh: Charge under sec. 6(1) on Agricultural land of Borrower
- For Loan Above Rs. 1.00 Lakh upto Rs. 3.00 Lakh : EQM of House

Collateral

-Third party guarantee required.
- Other Collateral security may be required depending on case to case basis.

Mode of Repayment

Half Yearly EMI