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