Avail our Term loan Facility to meet your various business purposes, such as for business expansion, to purchase equipment, machinery or raw materials, to manage cash flow, to meet working capital requirements, buying office or business space/land, paying-off rent and salaries, hiring new staff, debt consolidation, etc.
Installment loans are personal or commercial loans that you can repay with regularly scheduled payments or installments.
- Rate of Interest:
- 9.80% (for Loan Amount upto Rs.10 lakhs)
- 11.00% (for Loan Amount from Rs.10 lakhs 1 to Rs.25 lakhs)
Who can borrow :
Firm engaged in trade, commerce & business professionals, Proprietorship, Partnership, Pvt. Ltd. & Public Ltd. Companies.- Age Criteria: Minimum age of the applicant should be 18 years at the time of loan application and maximum should be 60 years at the time of loan maturity.
- Applicant with good repayment history and high creditworthiness.
- Applicant should possess good credit score or CIBIL score, ideally above 700.
- Applicant should maintain regular source of income.
- Applicant with no defaults with any financial institution.
Prime Security:
- First charge on the fixed assets acquired through the loan amount
Collateral Security :
- If required, on case to case basis.
Guarantors :
- Two Financial strong Guarantors Required.
Documents :
Duly filled form with :
- Income proof of Applicant and Guarantors
- Residential Proof of Applicant and Guarantors
- PAN card of Applicant and Guarantors
- KYC of Applicant and Guarantors
- Business establishment proof
- Three years latest ITR
- 10 PDC cheques
