banner
banner

BUSINESS DEVELOPMENT LOAN

 

Who can Borrow Individuals/Proprietary concerns/firms /companies /Limited Liability Partnership
As the scheme is only to cater to customers engaged in business/profession/trade, people who are running their own business/self employed/SSI registered units/MSME, Practicing Professionals/ Traders etc are eligible.
Purpose For overcoming expenses incurred by borrowers engaged in business/profession/trade for acquisition of commercial premises [acquired on Pagdi/Lease Basis], renovation & repairs to be carried out at existing factory/commercial premises from wherein business is conducted, Purchase of Raw Material/ Machinery/Equipment’s, Payment to Sundry Creditors, Payment of Unsecured loans[as reflected in audited balance sheet], take-over of credit facilities availed for business purpose from other banks /FI/NBFC’s.
Security Immovable Property  such as flat/shop/Industrial Gala /land along with House/Row house/Land along with factory premises etc.having all requisite permissions from competent authorities owned by the proprietor /firm /partner /Co’s/director in personal capacity
Margin 40% [market value of the security offered].
Rate of Interest

Upto Rs.5.00 Crores : 10.95%

Above Rs.5.00 Crores: 10.50%
Repayment Maximum 120 months
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of the Borrower & Guarantors
  2. ITR Returns along with Financial statements for the last 3 financial years of the Borrower /Partners/Directors /Guarantors etc, Business account statement for the last two years.
  3. Title Deeds of the property offered as security.
  4. Details of End use of the funds.

** Conditions Apply

 

Who can Borrow Doctors, Chartered Accountants, Cost Accountant, Company Secretary, Architect.
Purpose For purchase of Premises for business / renovation of premises, Machinery, New Software Technology, Working Capital
Limit Purchase of Property : 75% of (AV inclusive of Stamp duty & Registration) Purchase of Machinery/Renovation : 75% of the Proforma Invoice /Quotation submitted
Security Immovable Property Such as Premises/ Gala created from Loan amount and Machinery, Equipment etc to be purchased
Margin 25%
Rate Of Interest 9.95% p.a
Repayment Maximum 120 Months
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. If Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
  3. Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
  4. Title Deeds of the property offered as security.
  5. Copy of Professional Qualification Certificate.

** Conditions Apply

 

Who can Borrow Small Traders/Businessmen/Professionals/Self Employed Persons/individuals
Purpose To meet working capital requirement
Limit Rs.50,000/- upto Rs.10,00,000/- [Maximum]
Security Pledge of Gold Jewellery with fineness of 22 ct. to 24 ct.
Margin 25 % of assessed value of Gold OR 20% of sales/income turnover whichever is lower, subject to maximum of Rs.10.00 Lacs.
Rate of Interest 10.50% p.a
Repayment Annual review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
  3. Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
  4. Commercial Activity Proof/ License/registration etc.

Note : :Loan shall not be granted for to be used for speculative purpose.

** Conditions Apply

 

Who can Borrow Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company
Purpose To meet working capital requirement
Limit 20 % of the sales\turnover \projected turnover OR 60% of the Value of the property offered as security whichever is low.
Prime Security Immovable property such as flat/shop/Industrial Gala /NA Land /land along with House/Row house/Land along with factory premises etc.
Margin 40 %
Rate of Interest 11.25%
Repayment Annual review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC related documents of the Borrower /Partners/ Directors & Guarantors .
  2. ITR along with Audited financial statements for last 3 years of the firm as well as individual capacity of the partners/directors for the last 3 years, along with Business account statement for last two years.
  3. Title Deeds of the property offered as security.

** Conditions Apply

 

Who can Borrow Proprietorship concern/Partnership firm/ Limited Liability Partnership/Private Limited company
Purpose To meet Working Capital requirement
Limit 20 % of the Sales\Account turnover /Projected Sales Turnover OR 75% of the Value of the property offered as security whichever is low.
Prime Security Paid Stock & Bookdebts upto 90 days old only.
Collateral Security
  1. Immovable property such as Flat/Shop/Industrial Gala /Land along with House /Row House/Land along with Factory premises etc.
  2. Assignment of LIC policies/NSCs (having substantial surrender value).
  3. Pledge of our bank’s Term Deposit Receipts.
Margin For Stock-25%, For Bookdebts-40%
Rate of Interest 11.25% p.a
Repayment Annual review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of the Firm, Co /proprietor/partners/ directors, also in their personal capacity.
  2. ITR along with Audited financial statements for last 3 years of the Borrower Firm/Co as well as Proprietor/Partners/Directors for the last 3 years, along with business account statement for the last 2 years.
  3. Title Deeds of the property offered as Collateral Security.
  4. Surrender value statement of LIC policies to be assigned /NSCs.

** Conditions Apply

 

Who can Borrow Proprietary concerns/firms/companies /LLP
Purpose To meet working capital requirements
Limit 20 % of the Sales\Account turnover /Projected Sales Turnover
Security Pledge of stock/vehicles with the bank
Noting lien of the bank on register maintained by the Godown
Margin 10% to 15% of Invoices.
[Note: Loan amount will be disbursed for purchase of vehicles/stock after getting margin money in the account. ]
Rate of Interest 12.00% p.a.
Repayment Annual Review
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of borrower & guarantors.
  2. ITR Returns along with Financial statements for the last 3 financial years of the Borrower /Partners/Directors /Guarantors ,Business account statement for  the last 2 years
  3. Title Deeds of the property offered as security.
  4. The expenses related to custodial charges such as godown rent, salary of guard, installment of CCTV, etc. shall be borne by the borrower.

** Conditions Apply

 

Who can Borrow Permanent Salaried Employee, Engaged in Business , Self Employed Professionals.
Purpose To Meet personal expenses such as Medical/Travel/ Marriage/ Purchase of Hi tech Electronic Gadgets, Household appliances/Furniture
Limit Minimum Loan to be sanctioned ----Above Rs.3 Lacs
Maximum loan to sanctioned --------Upto Rs.5.00 Lacs
Collateral Security Security such as Pledge of our banks Term Deposits,  NSC , Assignment of Surrender Value of LIC policies , Simple Deposit of Title Deeds of owned immovable property with noting of charge with competent authorities.
Margin No Margin
Rate of Interest 12.50% p.a
Repayment Max.120 Months
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors .
  2. For Salaried Employee :
    1. Salary slip for the last 3 months along with bank statement wherein   Salary is credited for last one year.
    2. Latest Form No.16
  3. For Business/Self Employed Professionals
    1. IT Returns along with Financial statements for the last 3 Yrs
    2. Statement of business account for last one year.

** Conditions Apply

 

Who can Borrow Individual/ Company/Firm
Purpose Commercial/ Second-hand Machinery
Limit 75 % of the Proforma Invoice /Quotation
Incase of Second Hand Machinery---50% of the Agreement between the vendor or 50% of the Valuation whichever is lower.  
Security Hypothecation of Machinery
Margin * 25%
* 50%of Valuation (in case of second hand Machinery)
Repayment * 60 months [Maximum :84 months]
Rate of Interest 11.50 % p.a
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. Income proof of the Borrower justifying repayment capacity. Incase of Business ITR along with Financial Statements for the last 3 years, Business account statement for the last one year.
  3. SSI Certificate
  4. Quotation from authorized dealer duly signed by both the parties.

** Conditions Apply

** For all the SSI Registered Units , wherein their investment in Plant & Machinery is upto Rs.500.00 Lacs , for the loans availed for purchase of new machinery upto Rs.100.00 Lacs, Subsidy under CLCSS ( Credit linked Capita Subsidy Scheme) of Central Govt of India is available. Under said subsidy scheme the borrower is eligible for subsidy upto 15% of total cost of machinery to be purchased , maximum to the tune of Rs.15.00 Lacs once in lifetime of unit. SSI certification as well as AADHAR of the Proprietor /Partners/Directors is compulsory for availing the benefit of the said scheme.

 

Who can Borrow Individuals/Proprietary/Partnership firms/Private Limited Company/LLP.
Purpose Purchase of Commercial Premises
Limit 75% of (AV+ Stamp duty & Registration )
Security Immovable Property which is to be created from loan amount.
Margin 25%
Rate of Interest 10.50% p.a
Repayment Maximum 84 Months (Can be relaxed upto 120 month on case to case basis)
Processing Fees As per our service charges applicable
Basic Documents
  1. KYC documents of Borrowers and Guarantors.
  2. Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
  3. Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
  4. Title Deeds of the property offered as security.

** Conditions Apply
banner