The product is designed to cater the customers who are engaged in various business sectors and meet their financial requirements to operate and or expand the business. Business Loan shall be of renewable and term loan.
To meet operational requirement of business and for the management of inventory and receivable.
- Tenure : 12 months for renewable loan and 12-15 years for term loan
- Interest/installment: Monthly/quarterly
- Maximum loan limit: 75% of the value of collateral
- Service charge: 1% 0f the sanctioned amount
- Prepayment charge : 2% on the pre-paid loan amount for term loan only
- Application Form
- Copy of Citizenship of proprietor and Guarantor
- Land revenue and tax paid receipt
- Approved house drawing and construction completion certificate (as appropriate)
- Recent blue print, trace map and foundry certificate
- Photo of the Applicant and Guarantor
- Audited Financial Statements of latest FY and projected for three years
- Copy of PAN/VAT and other registration Certificate
- Others as required