Through Project Finance, IDBI seeks to provide long term finance for new projects and the expansion, diversification and modernisation of existing projects. Based on the Minimum Term Lending Rate fixed from time to time. The actual rate within the prevailing rate band depends upon the credit worthiness of the borrower and the risk perception.
Interest is payable quarterly.
Mandatory clause not applicable. In case of default. First charge on movable and immovable fixed assets. In quarterly instalments to be fixed on case to case basis depending on projected cashflow of the borrower. Deed of hypothecation.