- Self employed individuals, Proprietors, Private Ltd. Co. and Partnership Firms involved in the business of Manufacturing, Trading or Services.
- The business should have a minimum turnover of Rs. 1 crore.
- Individuals who have been in the current business for a minimum of 3 years, with 5 years total business experience.
- The applicant should be at least 23 years at the time of applying for the loan, and should be no older than 65 years at the time of loan maturity.
- Business should have a Minimal Annual Income (ITR) of Rs. 1.5 lakhs per annum.
- Current GST Returns.
FEATURES OF BUSINESS LOANS
- Availed in a range of Rs.75,000 to Rs. 50 Lacs (for businessman)
- Special range of 75 Lacs for doctors.
- Minimum Document
- flexible repayment options minimum 12 months to 36 months
- Drop line over draft facility ( Without any collateral )
Balance Transfer your exiting business loan
. Enjoy lower EMI’s and SAVE on your interest payments
- Interest rates as low as 14.99 % on the existing loan transfer
- Processing fee (0.99 % + GST) of the Loan Amount
- To transfer your loan balance
|Rack Interest Rate Range||15.50% to 18.30%|
|Loan Processing Charges||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-|
|Prepayment||No pre-payment permitted until repayment of 6 EMIs|
|Pre-payment charges||07-24 Months – 4% of Principal Outstanding
25-36 Months – 3% of Principal Outstanding
>36 Months – 2% of Principal Outstanding
|No Due Certificate / No Objection Certificate (NOC)||NIL|
1. Pan card (individual / firm / company)
- Pan card (individual / partners / directors )
2. Residence Address Proof: Any One from the following:
- Utility Bills / passport copy/ Adhara card / Driving licences/ Voter card ( any One )
3. Office Address Proof: Any One from the following:-
- Property Documents
- Utility Bills
- Any registration of (industrial /firm/company)
4. Office / Residence Ownership Proof (if any): Any One from the following:-
- Property Documents
- Maintenance Bills
- Electricity Bills
5. Business Existence Proof Any One from the following:
- Shop Establishment Act
- Any Tax Registration Copy
- Company Registration license
- Company MOA& ROC return
- Partnership Deed ( if partnership firm )
6. Income Proof:-
- Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
- Last 12 months bank statement current / limit.
7. Required Documents for Balance Transfer (Existing Bank):-
- Foreclosure letter from the bank.
- Loan statements