NAINI HOTEL NIRMAN SCHEME

Purpose:

Term Loan and Overdraft facility for following purposes:

1. For Construction of Hotel /Recreation Centers and Purchase of Furniture Fixture.
2. Purchase of Hotel/Restaurant/ Recreation Centers.
3. For Renovation of Hotel/Restaurants/ Recreation Centers.
4. Overdraft for the line of Business/operational expenses.

Eligibility:

All Business Units who want to avail loan facility for services activities including takeover of accounts associated with Hospitality industry including Hotels, Restaurants, Recreation Centers etc along with self-employed and professional individuals covered by MSMED Act 2006, modified from time to time.

Margin:

Over Draft – Nil.

Term Loan – 25 % of the cost of the asset created.

Features :

Over Draft: 25% of the Total Gross Receipts. Minimum: 20.00 lakhs Subject of Maximum of Rs.100 lakhs.

Term Loan: Minimum Amount of Rs. 0.20 Crore Maximum Amount of Rs. 15 Crore.

Overdraft -12-months subject to annual review.

Term Loan - Minimum- 36 months maximum -120 months (Moratorium on Principal is restricted to 18 months).

For takeover of the account Processing charges are waived. POS rental would be free for up to 2 POS machine.QR code is Free and 50% waiver in cash handling charges would be provided.

Nainital Bank must be the Sole Banker of the Business Unit.