Many times, when people start searching business, they do found a good business ideas. They want to do that business too but due to money issues, none of them can start. if you are also facing the same kind of issues, don’t be worry that why because under SME Business syndicate bank started SyndHotel Loan Scheme under which you can loan of around 10 Cr.
What is SyndHotel Loan Scheme
A syndicate bank initiative, SyndHotel loan scheme is a way by which you can get 10 Cr Rupee credit. the total rate of interest will start from 11.25% to 12.75. also this the total loan duration will be 7 years with very short terms and condition
Aim of SyndHotel Loan Scheme
The main aim of SyndHotel Loan Scheme is to support MSME business. By this loan, you can start hotel, restaurant, fast food center, tea and cofeeshop, franchise, Piza centers, mesh, and catering center etc.
If you have your own business and looking to ingrates the business you can also apply for the scheme.
Who can apply for SyndHotel Loan Scheme
With this scheme, micro, small medium size enterprise can take the loan. if you have invested the money around 5Cr for machinery in your business you can also apply for the same.
If you are person, prosperity firm, share holding, private limited firm, trust or society, you will be eligible for the same. The only one requirement is to have valid license from nagar nigam/or local authority along with valid property like lease/ or rented firm.
Type of credit under SyndHotel Loan Scheme
This loan will be provided in form of overdraft or term loan also the main benefit of this scheme is that a businessman can get 10cr loan. so if you are in plan to start expand your business, this can be a better option for you.
Margin and interest rate of SyndHotel Loan Scheme
In this scheme, till 1 Cr 15% margin available and on or over 1 Cr 20% margin available.
In this scheme, below 10 Lac interest rate will be 1% more than the base rate like if the current base rate is 11.25 than 12.25 base rate will be there.
If you will consider the interest rate, than from 10 Lac to 1 Cr the rate will be 12.25 % and if the amount will be more than 1 cr the interest rate will be that 12.75 %