Service and Tourism

Loans

Eligibility	Tourist operators / hoteliers or other service units.
Purpose	Setting up and expansion of hotels / tourist resorts / service centers.
Quantum of Loan	60% of project cost.
Rate of Interest	Upto 1 year-11.73% Upto 2 years-11.83% Upto 3 years-11.93% Upto 4 years-12.03% Upto 5 years-12.13% Upto 6 years12.23% Upto 7 years12.33% Upto 8 years-12.43% Upto 9 years-12.53% Upto 10 years-12.63% Above 10 Upto 15 years-13.13%
Repayment Period	up to 10 years.
Security	Mortgage of immovable and movable properties.
Documents Required	Copy of Industrial License. Government’s approval for project establishment. Detailed Project Report with brief description of the product(s), location of the project, market study, raw materials, probable buyers and economic benefit to the country etc supported by financial projections. Estimates for Civil Works/Quotations for machinery & miscellaneous fixed Assets. Audited financial statements for the last 3 years (in case of existing companies). Ownership Certificate of the land / lease agreement etc. Technical Collaboration Agreement/Technical Know-How Agreement. Letter assuring release of foreign exchange from Ministry of Trade and Industry in cases involving import of machinery/raw material.