Purpose:

Single line of credit for Working capital such as Over Draft, Trust Receipts, BP/BD/LCD, short term demand loans, Letter of credits, Bank Guarantee, etc. immoveable property

Eligibility:

All business / Service concerns having sales turnover upto AED 100 millions and undertaking the business of trading in goods and services

Loan amount:

50% of the Market Value of the property to be mortgaged (60 % in case the third party guarantee of adequate worth is available in addition to the propery to be mortgaged) maximum AED 5 million

Security:

Assignment / mortgage of the immoveable property / personal guarantee, etc.

Rate of interest*:

Competitive Rate of interest prevailing at the time of sanction

Period:

Renewable annually

Can be availed in the form of loans repayable in 36 months