Business Loan

Purpose:

Business Loan (Commercial) products can be categorized broadly into the following types. Definitions of major loan schemes are as under: - – Eligibility Criteria: Individuals who can qualify for loan are: Salaried, SEP / SENP – Self Employed Professional / Self Employed Non-Professional Non individual entity shall be considered as second applicant / co borrower

Eligibility Age 21 to 60 Years

LOAN Amount – Max. Rs. 1 Cr.

Period: Max. 120 Months.

Security:

Primary security –Mortgage of commercial premises to be purchased / constructed.

In addition, Bank at its discretion may accept security in the form of Insurance Policies, etc.

Age of the property shall not exceed 30 years. Residual/ balance life of the building should cover the loan tenure.

Guarantor:

Two Guarantors having a regular source of income including any family member (may vary from case to case basis)
Documents:

Filled up loan application form

2 Passport Size Photo

Identity Proof - Passport/ Driving License/ Voter ID/ PAN

Residential Address Proof - Leave and License/ Registered Rent Agreement/Utility Bill (up to 3 months old), Passport

Leave & License Agreement if the applicant is currently staying on rent

Copy of Degree Certificate in case of Professionals