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Overdraft Against Property
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Key Features
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Eligibility
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Charges
Overdraft Against Property : Key Features
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The scheme aims at providing finance for working capital finance against immoveable property
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Single line of credit for working capital such as Overdraft, Trust Receipts, BP/BD/LCD, short term demand loans, Letter of Credit, Bank Guarantee, etc. immoveable property
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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 property to be mortgaged) maximum AED 5 million
Period: Renewable annually. Can be availed of in the form of loans repayable in 36 months
Overdraft Against Property : Eligibility
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All business/service concerns having sales turnover upto AED 100 million and undertaking the business of trading in goods and services
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Security: Assignment/mortgage of the immoveable property/personal guarantee, etc.
Overdraft Against Property : Charges
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Rate of interest*: Competitive sate of interest prevailing at the time of sanction
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*Terms: Rates and charges are subject to change from time to time

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