Business Loan

Documents Required

Applicant Company Co- Applicant director Co- Applicant director
Pan Card
Passport Size Photo - 2
Passport Size Photo - 2

Business Proof:

Light Bill/Other Company Certificate

(SSI, GST, CST,....)

Current A/C

PAN Card/Aadhar Card
PAN Card/Aadhar Card

ROC Certificate

Residents Proof:

(light Bill/Vera Bill/Rent Agreement)

Residents Proof:

(light Bill/Vera Bill/Rent Agreement)

IT Return

(Last 4 Years with Audit Report)

 

IT Return

Last 3 Years

IT Return

Last 3 Years

Current A/C Bank Statment (12 Months)
Bank Statement (12 Months)
Bank Statement (12 Months)
SOA/Welcome Letter (Existing Loan)
SOA/Welcome Letter (Existing Loan)
SOA/Welcome Letter (Existing Loan)
Cheque (7)
NA
NA

Interest Rates & Charges

Charge Type Charge

Rate of Interest (Reducing)

@ 18% to 23%

Loan Processing Charges

@ 2% + G.S.T

Cheque/ECS Bounce Charges

Rs. 750 + G.S.T

Cheque Swap Charges

Rs. 500 + G.S.T

Statement of Account Charges

0%

Foreclosure Charges

0%

Duplicate Sanction Letter

Rs. 250 + G.S.T

Duplicate Repayment Schedule

Rs. 250 + G.S.T

Duplicate NOC

Rs. 500 + G.S.T

Photocopy of Loan Agreement/Documents

Rs. 250 + G.S.T

Stamp Duty Charges

As Per State Stamp Act

Eligibility

Eligibility
> Business Loan Upto 5 Lacs.
> Business turn over increase in last 2 years.
> Year in Business: Minimum 3 Years in Business and 5 Years total Business Experience.
> Business must be profit making from last 3 years
> Minimum tax paid in ITR (with Audit Report).
> Age of Director: Minimum age 25 years and maximum 58 years at the time of loan maturity.