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FCNR Loans

  • Eligibility
  • Interest rates & charges

FCNR Loans : Eligibility

Currencies for Loan

USD, Euro, Japanese and Sterling.


Who is Eligible

This facility would be available to all our existing corporate/non-corporate clients.


Purpose
  • Working capital.
  • Loan for capital expenditure such as purchase of new plant and machinery, acquisition of equipment and other assets.
  • Repayment of existing high cost loans.

Tenor

The facility can be allowed for a period from 3 months to 36 months subject to periodical rollover.

FCNR Loans : Interest rates & charges

Rate of Interest

Interest rate would be linked to LIBOR of relevant currency + spread depending on credit rating, payable at monthly rests.


Commitment Fee

1% p.a. of unutilised amount of FCL if it is not availed within 30 days of sanction.


Prepayment Charges

1% on the loan amount for the remaining period.


Processing Charges
  • Working Capital - Rs. 20,000
  • Term Loans - as applicable for rupee term loans

Note

The rate of interest, other charges and terms are subject to change from time to time as per RBI guidelines/Bank's policy.

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The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.


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