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FCNR Loans
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Eligibility
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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.
