BusinessLoanBusiness Loan

 We offer Business Loans for Purchase of Fixed Assets, Galas, Shops, Office Premises, Machinery / Equipments and for Working Capital etc.*

Be it venturing into new business or expanding current business

At Highly Competitive Rates @ 12.50 % p.a. **

For expansion of your existing business, to start new business, purchase of Fixed Assets, Galas, shops, Office premises, Machinery & equipment – Bank offers loans at very competitive rates. Avail the opportunity to grow and be a successful entrepreneur.

 

Eligibility

:

Individuals / firms / limited Company – manufacturing 

or Providing service.

Professionals & Self-employed persons.

Loan Amount

:

Working capital – need based.

Term Loan – 75% of the proforma invoice / Agreement value of gala / shop / premises.

Repayment period

:

Term Loan - Maximum 96 months.

Working capital – on demand.

Rate of Interest

:

As per the credit ratings.

Calculated on the daily reduced balance of the loan.

Security

:

Equitable / registered mortgage of the premises purchased.

Working Capital – Tangible / intangible assets available.

Machinery – Hypothecation of the machinery.

Two guarantors acceptable to the Bank.

Documents required

:

Proof of residence – Electricity bill / Telephone bill / Passport / Driving License / Aadhar Card

Proof of ID     - PAN Card / Driving License / Passport / Election Card .

Proof of income – Salary Slip / last 3 years Balance sheet / IT Returns with projections.

Proforma invoice.

Valuation report from Bank’s approved valuer (for 2nd

Hand vehicle)

Bank Statement for last 6 months.

Other documents on case to case basis.

 

 *Conditions apply

** Subject to change

Administrative Office

501, Central Plaza, 166 C S T Road, Kalina, Santacruz (East), Mumbai 400 098.

Tel No: 26656076 / 77 / 78 Tele Fax: 26656079

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