Banking sources confirmed that similar schemes from other banks, particularly the new private sector banks, are on the anvil.Indus Estate, a term loan scheme, will primarily be targeted at the self-employed individuals, small public and private limited companies, traders and other professionals who would require funds for purchasing commercial property. It is designed to provide working capital to these professionals to kick start their business ventures, said the banker.

The loans under this scheme would range between a minimum amount of Rs 3 lakh and a maximum amount of Rs 30 lakh and these loans will be sanctioned against collateral -- properties already in possession of theloanee. In all cases of disbursements, there would be a 50 per cent margin. This means that if a professional requires a total working capital of Rs 80 lakhs, then Indus Estate would offer a 50 per cent margin that is loan out Rs 40 lakhs."Further details of these schemes are yet to be worked out in consultation with the branch-managers," IndusInd Bank sources said.

However, if a professional requires total working capital in excess of Rs 1 crore, the scheme can at the most offer Rs 50 lakhs. The repayment period for the loan under the Indus Estate scheme is five years, with an interest rate of 18 per cent.

On the other hand, the `Indus Homes' scheme started by IndusInd Bank about a week back is a loanee-friendly scheme aimed at the middle class investor interested to make investment in residential property. The loan amount would range between Rs 2 lakh and Rs 25 lakh. "The interest on housing loans is 18 per cent with a monthly or quarterly reduction in the principal amount, as desired by the loanee.That is, if the loanee has taken a loan of Rs 10 lakh and wishes to pay back Rs one lakh in the first quarter or even the first month then the interest thereon is calculated on the reducing balance only, that is only on the balance amount of Rs 9 lakh," the banker said.