Term Loan

The bank provides term loan facility for capital expenditure, acquisition of fixed assets like purchase of machinery/equipments, expansion, modernization/technology up-gradation activities etc. These loans are primarily secured by way of first charge on the fixed assets acquired through the loan amount and suitable collateral security.

Repayment Maximum Up To 7 Years.

1. Type Of Loan : Term Loan.
2. Purpose : Capital Expenditure, Acquisition Of Fixed Assets Like Purchase Of Machinery/Equipments, Expansion, Modernization/Technology Up- Gradation Activities Etc.
3. Loan Amount : Need Based- Within The Bank's Exposure Limit.
4. Margin : As Per Banks Policy From Time To Time.
5. Repayment : Maximum Up To 7 Years.
6. Rate Of Interest : Linked With PLR As Per Banks Credit Rating

Eligibility
1. Who Can Borrow : Firm Engaged In Trade, Commerce & Business Professionals, Proprietorship, Partnership, Pvt. Ltd. & Public Ltd. Companies.
2. Prime Security : First Charge On The Fixed Assets Acquired Through The Loan Amount
3. Collateral Security : If Required, On Case To Case Basis.

Documents
Duly Filled Form With
● Income Proof Of Applicant(S) & Guarantor(S)
● Residential Proof Of Applicant(S) & Guarantor(S)
● Pan Card Of The Applicant(S) & Guarantor(S)
● KYC Of Applicant(S) & Guarantor(S)

Income Proof :
For Salaried
salary slips of past 3 months, form 16, 26 as and income tax returns of past 3 years.
Salary deduction letter from employer of reputed company.

For Businessmen
Income tax returns, profit and loss account and balance sheet of past 3 years.
loans against banks own fixed deposits receipt
Margin- 10% of the face value or pre mature value of fixed deposit.
interest- in case of first party 1% more than FD interest will be charges and if the deposit of third party is given as security, then 2% more than the fd interest will be charged.
Repayment- Till the maturity of fixed deposit