Rajasthan Industrial and Investment Corporation (RIICO) has reduced the interest rate on term loan by 0.5 per cent with effect from April 25.
New term loan's interest rate has been fixed at 11 per cent of interest after reducing 0.5 per cent, an official release said today.
The processing fee for loan was also reduced from 1 per cent to 0.5 per cent and the loan limit for successful businessmen have also been increased.
For those entrepreneurs paying the EMI against their loans on time in the major industrial projects has also been given 2 per cent concession -- from 14 per cent to 12 per cent.
