Term Loan

Business Loan :

Parameter	Details
Loan Limit	Maximum Upto Rs.500.00 Lacs.
Repayment	Repayment period for Business Loan will be 5 to10 Years.
Rate of Interest	12% to 16% p.a. (under the sole discretion of sanctioning authority)
Interest Calculation	Interest calculation on daily reducing balance.
Purpose	For purchase of Material, Shop, factory, Land & Building, Plant & Machinery, for business. For construction of Shop, Factory Building
Security	Hypothecation of Stock, furniture, fixture, plant & Machinery, and Registered Mortgage of Immovable Property.
Guarantors	Min Two Guarantors acceptable to bank.
Shares Contribution	Main Share of Rs.5025/- + Additional shares of 2.5% of loan amount.
Processing Fees	1% of loan amount + applicable G.S.T.
Stationery Charges	Upto 1 Lakh Rs. 100 + applicable G.S.T., More than 1 Lakh Rs. 200 + applicable G.S.T.
Other Charges	CERSAI, Franking Charges, Property Valuation, Search & mortgage Fees as applicable
Insurance	Insurance cover of Shop, Factory Building, Plant & Machinery, and Immovable Property as per bank’s policy.
Other Conditions	Any other documents as required by the bank at later stage

Documents Required:

Loan application
PAN Card, Address Proof, latest Photograph, of the Applicant and Guarantors.
All property Related Documents.
In case of Businessman : Proof of Business ( Shop Act, Food & Drugs License etc. as per applicability), Last 3 years ITR, P& L A/c , Balance sheet, Last 6 months bank statement of business