Surat Peoples Coop Bank Ltd. Loans – Business or Industrial Loan

By | March 30, 2011

Purpose: This loan finances businessmen and industrialists for plant machinery, fixed assets, cash credit, overdraft, working capital term loan, cash purchase cum credit sales, etc.

Quantum of loan: The quantum of loan varies with the category to which the loan belongs.

Margin: There is a margin of 20% in the amount of personal loan granted.

Rate of Interest:

Repayment: Loan is available for 3 years or more. One may prepay the loan with no penalty, or pay more than your stipulated monthly installment at any time, depending upon availability of funds. This would enable paying off the loan faster and reducing the interest burden.

Other features: Nominal processing charges. No prepayment penalty. Takeover of loan is also possible.

Documents Required:

  • Latest 6 months Bank Statement of salary account.
  • Last 2 years ITR with computation of income / Certified Financials
  • Proof of Turnover (Latest Sales / Service tax returns)
  • Proof of Continuity current business or industries (IT Returns / Certificate of business continuity issued by the bank)
  • Proof of Identity Proof of Residence
  • Proof of Office (any one) Lease deed / Utility bill / Municipal Tax receipt / title deed
  • Proof of Qualification Degree
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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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