IDBI OD Facility - 2017-2018 StudyChaCha

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  #1  
Old November 13th, 2017, 03:26 PM
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Default IDBI OD Facility

I want to get the details of Overdraft OD facility offered by IDBI Bank so will you please provide me?
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Old November 13th, 2017, 04:37 PM
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Default Re: IDBI OD Facility

IDBI Bank offers Loan against Property (Overdraft)

Loan against Property (Overdraft)

They have designed The Loan against Property with overdraft facility to cater to the need of the business community for meeting their short term working Capital requirements.

This Facility will provide the money that is required by the business community for Purchase/Stocking of raw materials, payment of salary, wages, etc and also for financing the gap between the supply of goods & payment of receipts thereafter.

Loan Purpose:-

• Business Finance to
• Merchant,
• Small and Medium Scale Manufacturers
• Service Providers.

Loan Amount:
Up to Rs.10cr, Loan above Rs.10cr can be provided depending upon individual cases.

Processing Fees:
Up to 1% of the loan amount plus service tax as applicable.

Loan Tenure:

The Facility is repayable on demand and renewable once in a year at the discretion of the Bank. In case of unsatisfactory conduct, bank is at liberty to (a) not renew or (b) recall/reduce the facility.

Maximum Funding:

• Up to 65% of the market value of the property (Residential Self Occupied)
• Up to 55% of the market value of the property (Residential Leased Out)
• Up to 50% of the market value of the property(Commercial/Industrial)
• More funding to existing Bank’s customer.

Security

Primary: First Charge on the mortgaged property by way of equitable mortgage against which IDBI Bank has advanced the loan.

Collateral: Liquid Collaterals as required by The Bank selectively in the form of Pledge/Hypothecation and Assignment depending upon individual cases.

Contact-

Registered Office:
IDBI Bank Ltd.
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005.

Customers can contact our 24 X 7 Phone Banking numbers
from any Landline / Mobile number, our Toll free numbers are as follows:
1800-200-1947
1800-22-1070
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