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
   
Sanction Limit
  • Working Capital - Need Based Term Loan - 75% of the proforma invoice
   
Repayment period
  • For a term loan – 36 / 60 monthly installments
  • Working Capital - on demand
  • No pre-payment penalty
   
Rate of interest
   
Security
  • Calculated on the daily reducing balance of the loan
  • 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/Passport
  • 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