Business Loan

Eligibility of borrower ·         Audited/Unaudited balance sheet for the last 3 years or the latest balance sheet.·         Applicant project report, if applicable, showing projection at least 5 years from a Chartered Accountant
Purpose of Loan    ·         To purchase industrial shed, shop, godown, factory land and building, office premises for the business, furniture, etc.
Quantum of finance ·         Up to 75% of cost of the property to be purchased as per satakhat·         Up to 75% of cost of the furniture to be prepared / purchased
Share Linkage Purchase of Bank’s share is optional to the borrower.
Repayment period Maximum 84 months. (Including moratorium period )
Rate of Interest   
S.S.I. Slab Parameter Non S.S.I
11.50% Up to Rs.10.00 Lacs 11.50%
11.50% Above Rs.10.00 Lacs To Rs. 25.00 Lacs 11.50%
11.70% Above Rs.25.00 Lacs To Rs. 50.00 Lacs 11.70%
11.80% Above Rs.50.00 Lacs 11.80%
Security ·         Prime: 
Equitable mortgage of Property purchased/constructed out of the Bank finance. Must have Building use Permission / Completion certificate.·         Collateral:
Personal guarantee of two financially sound guarantors having good Credit Worthiness.
Documents 1.     D P Note2.       Acceptance Letter of Loan Amount

3.       Letter of Guarantee, Lien & Set Off, Instalments and Consent

4.       Equitable mortgage of property

5.       Letter of sanction duly acknowledged by the borrower and guarantors.