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Business Loan


RATE OF INTEREST ON THE BASIS OF LOAN AMOUNT

Sr.No.
Size of Advance
Rate of Interest
Special Rebate
1
Upto Rs. 10 lac
13.50 %
For the business
Term Loan & Overdraft
1% rebate will be given against the regular repayment .
Details as per Loan Policy of the Bank.
2
Above Rs. 10 lac to Rs. 50 lac
13.00 %
3
Above Rs. 50 lac
12.50 %


RATE OF INTEREST FOR SPECIAL BUSINESS LOAN SCHEMES

Sr.No.
Type of Loan Schemes
Rate of Interest
Special Rebate
1
CASH CREDIT TO JEWELLERS

UPTO Rs. 10 LAC

ABOVE Rs. 10 LAC TO BELOW Rs. 1 CRORE

Rs. 1 CRORE & ABOVE



11.00 %

11.00 %

11.00 %
No Special
Rebate for
Regular Payment
2
CASH CREDIT AGAINST HYP. OF GOODS

UPTO Rs. 10 LAC

ABOVE Rs. 10 LAC To Rs. 50 LAC

ABOVE Rs. 50 LAC


13.50 %

13.00 %

12.50 %
1% rebate will be given against the regular repayment.
Details as per the Loan Policy of the Bank
3
LOANS & ADVANCES TO COMMERCIAL REAL ESTATE

15.50 %
1% rebate will be given against the regular repayment.
Details as per the Loan Policy of the Bank
4
TOD (Sanctioned by Board as well as Sanctioned by Branch Manager Under 10% criteria)

2% more than rate applicable to CC/OD No Rebate
5
SMALL SCALE INDUSTRIES (SSI) / MICRO & SMALL ENTERPRISES (SME)

1) TERM LOAN AGAINST MORTGAGE OF PROPERTY & OD AGAINST FIXED ASSETS

UPTO Rs. 10 LAC

ABOVE Rs. 10 LAC To Rs. 50 LAC

ABOVE Rs. 50 LAC

2) CASH CREDIT

UPTO Rs. 10 LAC

ABOVE Rs. 10 LAC To Rs. 50 LAC

ABOVE Rs. 50 LAC







13.50 %

13.00 %

12.50 %



12.50 %

12.00 %

11.50 %






No Special
Rebate for
Regular Payment
6
GENERAL TERM LOAN & OVERDRAFT AGAINST MORTGAGE OF PROPERTY

UPTO Rs. 30 LAC

ABOVE Rs. 30 LAC To Rs. 50 LAC



12.50 %

13.00 %


No Rebate
7
ALL TYPE ODF LOANS AND ADVANCES TO PROFESSIONALS SUCH AS DOCTORS,ARCHITECT,LAWYERS etc. FOR THEIR BUSINESS PURPOSE UP TO 50 LAKHS

11.00 %
No Rebate


Maximum Loan Available :   Upto Bank's Loan Exposure Limit or As per Scrutiny of Loan Application whichever is less

Guarantors Required :  Two Guarantors (All Partners, Directors and owners of property will be taken as a guarantors.)

Income of Surety :  Net salary income Rs.15,000/- p.m. OR Rs.2 Lac p.a. for businessman




1.Documents Required of Applicant (Individual, Partners and Directors)

  1. Loan Application duly filled in all respect.


  2. Four latest Passport size photographs.


  3. Proof of Identity - Driving Licence and Photo copy of PAN Card compulsary and Any one of        following; photo copy of ID Card / Passport / Adhar Card)


  4. Proof of Residence - Photo Copy of Ration Card (must) and Any one from following; Latest        Telephone Bill / Electricity Bill / Property Tax paid / Passport / Voters ID/ Adhar Card etc.


  5. Proof of Business - Partnership Firm's and Company's PAN Card, Shop Act Licence, Partnership     Deed with Registration Certificate, CST / VAT Registration Certificate, Company Incorporation    Certificate with Memorandum & Article of Association, Board Resolution, SSI Registration     Certificate and all copies of certificates issued by the various Authorities related to specific        business.


  6. Proof of Business Address (Shop/Regd. Office/Factory/Godown) - Maintenance Receipt /       Telephone or Electricity Bill or Leave & Licence Agreement in force.


  7. List of Sister Concern -


  8. Statement of other Bank Business A/cs (Current A/cs & Loan A/cs) for last one year


  9. Income Proof:

  10.       * Acknowledged copies of last three years I.T. Return with IT paid Challans
          * CA certified Trading and Profit & Loss A/c, Balance Sheet with all schedules
          * Computation of Income statement


  11. 2. Others


  12. For calculate Assessment of Working Capital - Stock Statement, List of Sundry Debtors
          (Below 90 Days) & Sundry Creditors, List of monthwise Sales & Purchases


  13. Collateral Security -
           a) For Immovable Property Documents - Sale Agreement / Chain Agreement, NOC to mortgage             Property from the concerned Authority, Share Certificate, latest Property Tax paid Receipt and             Maintenance paid Receipt, Registered Development Agreement and Power of Attorney, CC, OC,             Architect's Work Completion Certificate,Consent letter/s of property owner/s and all other
                related Title documents.
            b) Movable property - FDR/LIC/NSC/ICVP


  14. Valuation Report of immovable property


  15. Documentary proof of end use purpose of loan.


  16. Project Report (showing Brief History of business, Cost of Project, Assessment of Working Capital        and Repayment Capacity with DSCR)


  17. Opening of business Current A/c is compulsory.


  18. Collateral securities - Business loan above Rs.5 Lac require Collateral securities.


  19. Share linkage- 2.5% of loan amount.


  20. Process fees as per bank's policy.


  21. No pre-closer charges.


  22. Interest on reducing balance.



  23. 3.Documents Required of Guarantors


  24. Two pass port size photographs.


  25. Proof of Identification ... as above.


  26. Proof of residence ... as above.


  27. Proof of Business.


  28. Income proof ... as above for two months.


  29. For the salaried guarantors latest 3 months salary slip along with form 16.


  30. PN: all photo copies must be self attested and bring the originals for verification

* Conditions apply *


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Address: 217, Raja Rammohan Roy Road, Girgaum, Mumbai- 400 004.