| |
| Eligibility |
- Individuals
or Firms providing any service
|
|
|
| Sanction
Limit |
- Working
Capital - Need Based
|
|
- Term
Loan - 75% of the proforma invoice
|
|
|
|
|
Repayment period |
- For
a term loan – 84 monthly installments
|
|
- Working
Capital - on demand
|
|
|
|
|
| Rate
of interest |
|
|
- Calculated
on the daily reducing balance of the loan
|
|
|
| Security |
- Premises
– Mortage of Premises purchased by bank finance
|
|
- Working
Capital - Charge over tangible/intangible assets available
|
|
- Machinery
- Hypothecation of machinery purchased
|
|
|
|
- Any
other security that may be deemed necessary by the bank
|
|
|
| Documents
Required |
- Proof
of Residence - Xerox copy of Ration Card/Electricity Bill/Telephone
Bill
|
|
- Proof
of Income - Statement of Accounts (Balance Sheet & Profit &
Loss Statement)/Tax Returns for last 3 years with projections
|
|
- Documentary
evidence for the purpose of the loan
|
|
- Other
documents on a Case to Case basis
|
