What is Project Loan
Project Loan is generally provided by the Banks based on the assumption of a Particular Project undertaken by the customer. Banks very deeply go through the past track record of the promoters like What type of business they are in/were, what is their knowledge regarding the project to be undertaken, What is the feasibility of the project and many other queries.
Rate of Interest
Rate of Interest in the project loan depends on the Rating of the client in the bank which depends on the CIBIL, Asset base etc.However it presently range from 10% to 16%.
Following properties can be considered for Project Loan :