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PURPOSE
To increase the flow of credit to individuals for entrepreneurial activity in the non-farm sector.
NATURE OF FACILITY
Both working capital and term loan.
ELIGIBILITY
- Individuals engaged in the entrepreneurial activity in the non-farm sector, , which is eligible for classification under the priority sector guidelines
- Loan facility under General Credit Card (GCC) should, however, not be extended to ACC, WCC borrowers.
- The borrowers should not have been loan defaulter at any bank/ branch.
QUANTUM OF FINANCE
Maximum of 
1.00 lacs.
REPAYMENT
Maximum: 60 months including maximum moratorium period of 03 months.
CLASSIFICATION
Micro Enterprise.
MARGIN
Upto 50,000: No margin is required for loans.
Above 50,000 and upto 1.00 lac: 10%.
For working capital: 20%.
SECURITY
PRIMARY: Hypothecation of all the assets financed.
COLLATERAL: Nil.
RATE OF INTEREST (SUBJECT TO CHANGE)
RLLR+1.00%
Click here for rate of Interest
The post JK Bank Karobar Card Scheme Check Features and Benefits appeared first on Kashmir Publication.
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( With inputs from : kashmirpublication.in )