Overview
About
An affordable, convenient financial solutions for your short term/ medium term working capital needs.
Variants
- Drop-line Overdraft: It provides Overdraft facility without any security. Limit is set in separate Current account which drops monthly till end of the tenure.
Features
Ticket Size
- Unsecured: Rs. 5 Lacs to Rs. 50 Lacs
- Secured: Upto Rs. 300 Lacs.
Tenure
- DLOD- 24 months to 36 months
Pay interest only on the loan amount you use and for the duration you use it
No collateral required till 50 lacs.
Enjoy simple documentation and speedy disbursals
Enjoy the facility of a current account without paying extra for it
Eligibility
- Type of constitution: Self-employed individuals, Proprietors, Private Ltd. Co. and Partnership Firms involved in the business of Manufacturing, Trading or Services.
- Business Vintage: 3 years and above
- Turnover: Min. turnover of Rs. 1 Cr.
- Age: The applicant should be at least 21 years at the time of applying for the loan, and should be no older than 65 years at the time of loan maturity
- Others: No CIBIL default and Profit making business
Identity Proof
- Aadhaar Card
- Passport
- Voter's ID Card
- PAN Card
- Driving License
Address Proof
- Aadhaar Card
- Passport
- Voter's ID Card
- Driving License
Ownership Proof
Business/Firm Proof (ITR/Trade license/Establishment/Sales Tax Certificate)
Financials (ITR with computation of Income, Balance Sheet, Profit & Loss for last 2 years)
Banking statement of previous 6 months.
Rates & fees
| Bank | |
|---|---|
| Min | Max |
| 14% | 20% |
- Rate of Interest: We offer Competitive Interest rates for our loan facilities. The interest will be determined based on assessment of your business profile, financial assessment, past track record, loan amount and tenure.
- Processing Fee: Upto 3% of the loan amount
- Insurance Charges: As applicable
- Documentation charges: As per applicable laws of the state
- Foreclosure Charges: @3% on O/s DP at the time of closure