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Business Loan

The Business Loan is just what you need to address your diverse financial needs – be it venturing in to new business lines or expanding current business, you can now look forward to getting the financial support you need, without any hassles.

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Age Above 23 years
Financial Norms Growth & Positive PAT
Profiles Covered Manufacturers, Traders, Wholesalers, Retailers, Contractors, Service Providers
Work Experience 5 years of experience with 4 years in the current venture

  • Loans are tenable in a wide range of Rs.10 lakhs to Rs.5 Crore
  • Easy and simple documentation
  • Flexible repayment options, 12 and 60 months

Description of Charges Norm
Overdue Charges 2.0% p.a. over & above existing ROI for the number of days overdue from the due date.
Auto-debit Mandate / Cheque Bounce Charges Rs.350 + Service Tax
Auto-debit Mandate / PDC Swap Charges Rs.500 + Service Tax
EMI Cycle Change Rs.500 + Service Tax
Loan Re-schedulement charges 0.25% + Service Tax
Switch Charges (Floating to Fixed and vice versa) 3.00% + Service tax of the loan outstanding
Part Prepayment Penalty Part Prepayment can be made only after 6 months from the date of full disbursement. This payment can be done only once in a financial year subject to minimum of Rs 50,000 and maximum of 25% of the loan outstanding at the beginning of the FY. All part prepayments made within 12 months prior to the foreclosure of the loan will be charged at the applicable foreclosure rate.
Part Prepayment Penalty Foreclosure Penalty Foreclosure charges will be 5% + service tax on the outstanding loan amount at the time of foreclosure if the loan is closed within 6 months from the date of 1st disbursement. Foreclosure charge will be 3% + service tax if loan is closed between 6 – 12 months from the date of 1st disbursement. The foreclosure charge will be 2% + ST if loan closed after 12 months from the date of 1st disbursement.
Facility Cancellation Charges Rs.2000 + Service Tax + interest charges from disbursement date till cancellation request.
Facility Statement Charges Rs.500 + Service Tax (NIL for 1 statement half yearly)
CGTMSE Guarantee Fee Loan Amount Upto Rs.5 Lakhs – 1.00%
Loan Amount Above Rs.5 Lakhs – 1.50%
CGTMSE – Annual Service Fee Loan Amount Upto Rs.5 Lakhs – 0.50%
Loan Amount Above Rs.5 Lakhs – 0.75%
Stamp duty (Facility documentation & Property) + Registration As per Actuals
Legal, Repossession and incidental charges As per Actuals
Insurance Premium As per Actuals
Charge creation with ROC As per Actuals
Any other charge As per sanction letter
  • Service charge as applicable

  • Loan Application Form
  • KYC & Constitutional Documents
  • Audited Financial report
  • Borrower & Key Personnel Profiles
  • Borrower Existing Bank Sanction Letter
  • Borrower Existing Bank Statements
  • Borrower External Rating Report ( if available)
  • Key Personnel Net worth Statements
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