Eligibility
  • Individuals or Firms providing any service
  • Professionals & self employed persons
   
Sanction Limit
  • Working Capital - Need Based
  • Term Loan - 75% of the proforma invoice
   
Repayment period
  • For a term loan – 84 monthly installments
  • Working Capital - on demand
  • No pre-payment penalty
   
Rate of interest
   
Security
  • Premises – Mortage of Premises purchased by bank finance
  • Working Capital - Charge over tangible/intangible assets available
  • Machinery - Hypothecation of machinery purchased
  • Two guarantors
  • Any other security that may be deemed necessary by the bank
   
Documents Required
  • Proof of Residence - Photocopy of Ration Card/Electricity Bill/Telephone Bill
  • Proof of Income - Statement of Accounts (Balance Sheet & Profit & Loss Statement)/Tax Returns for last 3 years with projections
  • Documentary evidence for the purpose of the loan
  • Other documents on a Case to Case basis