Purpose
To facilitate credit needs of the tourism sector in the UTs of J&K and Ladakh.
Eligibility
Any Individual/Proprietorship/Partnership Firms/Group of Individuals/Self-Help Group (SHG), etc. having basic know-how of hospitality/tourism intending to promote identified tourist circuits/villages of J&K and Ladakh can avail the benefits of the scheme.
Age of the Applicant
- Minimum age of Applicant: 18 years.
- Maximum age of Applicant at loan maturity: 70 Years.
Type of Loan
Term Loan.
Quantum of Loan
As per the DPR subject to a maximum of Rs. 10.00 lakh.
Margin
- 20% for loans up to Rs. 5.00 lakh.
- 25% for loans above Rs. 5.00 lakh and up to Rs. 10.00 lakh.
Security
- Primary Security: Hypothecation of all the assets/equipment/machinery/F&F/Vehicles, etc. that are created out of Bank finance including receivables from the business, if any.
- Collateral Security: Third-party guarantee of two persons acceptable as per Bank norms. In case of homestays/accommodations, a negative lien of the property.
Door to Door Tenure
Maximum tenure will be 72 months including the maximum moratorium period of three months.
Processing Charges
0.25% of the loan amount + Applicable GST
*Conditions Apply