Business loan


  • Last three years balance sheet, copy of income tax return, copy of Partner's personal return , Memorandum and Article of Association in case of limited company, resolution for loan application.
  • Tax bill of Property
  • Three photographs of Applicant
  • Business proof of Applicant
  • Applicant's Pan card / Partner's Pan Card / Limited Company's Pan card
  • Bank account statement of last 2 years
  • Stock statement of the business
  • Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
Guarantor Details:
  • Photograph-two copies
  • Last tax bill
  • Last three years income tax return copy / Pay slip of last 3 Months.
  • Address proof - electric bill /telephone bill (any one)
  • Photo proof - Pan card / Voter card / Driving license/Aadhar card (Any one)
Conditions
  • Applicant has to provide collateral security to the tune of 75% of the limit by way registered mortgage declaration of residential premises, office, shop, godown, shed etc.
  • Insurance of mortgage property to be taken in favour of bank by the applicant.
  • Original documents such as share certificate, Sale deed, Tax receipt allotment letter are required for registered mortgage of the property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • The applicant has to provide two guarantors.
  • Limit is subject to renewal after 12 months.
  • Applicant has to take share @ 2.5% of the limit.
  • Processing charges are 0.50% of the loan amount will be levied on sanction.