Eligibility |
- Individuals or Firms providing any service
- Professionals & self employed persons
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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 – 84 monthly installments
- Working Capital - on demand
- No pre-payment penalty
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Rate of interest |
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Security |
- Premises – Mortage of Premises purchased by bank finance
- Working Capital - Charge over current tangible/intangible assets available
- Machinery - Hypothecation of machinery purchased
- One guarantor
- 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 Billl
- 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
- Proof of Business – Licenses/ Permissions as applicable
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