RMGB Corporate Home Loan Scheme
To provide Home Loans to Corporate Entities (Both Public & Pvt. Ltd. Companies) for construction/acquisition of Residential Units in the name of the Company for use by their Directors/Promoters and Employees. SPV/Subsidiary of Corporate Entities will also be eligible for availing loan under this Scheme provided,
- The Parent Company fulfils the above mentioned eligibilitynorms,
- The Parent Company agrees to stand as a Guarantor for HomeLoan,the estimated cash flow of the SPV/Subsidiaries issufficient to repay the EMIs or the Parent Company gives an undertaking to Service the Home Loan in addition to guaranteeing the loan.
- Loan Amount: Minimum: Rs. 10 Lac Maximum: Rs. 5 Crore
- (Minimum loan amount of Rs. 10 Lac stipulated under the Scheme is per corporate borrower irrespective of the number of residential units proposed to be acquired).
- Maximum period for construction of house: 5 years from the date of availment of the loan