IFSC Code : IBKL0497LUC

Term Loan

Business Loan :

    • Loan Limit : Maximum Upto Rs.400.00 Lacs.
    • Repayment : Repayment period for Business Loan will be 5 to10 Years.
    • Rate of Interest : Attractive rate of Interest.
    • 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.1000/- + Additional shares of 2.5% of loan amount.
    • Charges :
      • Processing Fess : 1% of loan amount + applicable S.T.
      • Stationery Charges : Upto 1 Lakh Rs. 100 + applicable S.T.
        More than 1 Lakh Rs. 200 + applicable S.T.
      • CERSAI, Franking Charges, Property Valuation, Search & mortgage Fess as applicable

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
  • Insurance : Insurance cover of Flat, Row House & House Property as per bank’s policy.
  • Any other documents as required by the bank at later stage.
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