| Eligibility |
- Individuals who have undergone training & hold degree/diploma from any institution recognised by the Govt. or those who are technically qualified/skilled or have adequate experience to pursue a business
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| Sanction Limit |
- Working Capital - Need Based Term Loan - 75% of the proforma invoice
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| Repayment
period |
- For a term loan – 36 / 60 monthly installments
- Working Capital - on demand
- No pre-payment penalty
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| Rate of interest |
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| Security |
- Calculated on the daily reducing balance of the loan
- Working Capital - Charge over tangible/intangible assets available
- Machinery - Hypothecation of machinery purchased
- One guarantor with adequate net worth
- Any other security that may be deemed necessary by the Bank
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| Documents
Required |
- Proof of Residence - Aadhar Card Card/Driving license/ Passport/ 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
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