Business Loan

Purpose

• For a business on the growth phase with a wide range of opportunities to explore, timely availability of credit is essential to scale new heights.We see ourselves as partners to Clients business enabling them to focus on their business needs.

Eligibility

• Businessmen/Professionals

Repayment Period

• Maximum 5 years
• Moratorium period available

Rate of Interest

• 14.95%

Penal Interest

• Any irregularity or default in repayment will attract penal interest of 3.00% p.a. over and above the rate of interest on the balance outstanding.

Processing fees

• 1.30%

Shareholding

• 2.5% of loan amount

Quantum Of Finance

• The quantum of loan shall be in accordance with the requirement and eligibility norms, depending upon the merits of each individual case.
• Collataral Security to be 150% of loan amount

Interest Calcualtion Method

• Reduced Balance method

Security

• Equitable/ Registered Mortgage of property.

Documentation

• Duly filled prescribed application form
• Photo Identity & Residence Proof of the Applicant & Guarantor
• last three years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
• Legal Documents for creating mortgage as per requirement
• Project Report