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| Eligibility |
- Individuals who have undergone training & hold
degree/diploma from any institution recognised by the Govt. or those
who are technically qualified/skilled or have adequate experience to
pursue a business
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| Sanction
Limit |
- Working
Capital - Need Based
|
|
- Term
Loan - 75% of the proforma invoice
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|
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|
Repayment period |
- For
a term loan – 36 / 60 monthly installments
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- Working
Capital - on demand
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| Rate
of interest |
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- Calculated
on the daily reducing balance of the loan
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| Security |
- Premises
– Mortage of Premises purchased by bank finance
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- Working
Capital - Charge over tangible/intangible assets available
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- Machinery
- Hypothecation of machinery purchased
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- Any
other security that may be deemed necessary by the Bank
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| Documents
Required |
- Proof
of Residence - Xerox copy of Ration Card/Electricity Bill/Telephone
Bill/Passport
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- Proof
of Income - Statement of Accounts (Balance Sheet & Profit &
Loss Statement)/Tax Returns for last 3 years with projections
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- Documentary
evidence for the purpose of the loan
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- Other
documents on a Case to Case basis
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