BUSINESS LOANS FROM SIB - COLLATERAL FREE LOANS
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Purpose
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Providing loans to meet your business needs
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Target
Customers
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- Self-employed professionals
- Self-employed non-professionals
- Manufacturers, traders, wholesalers etc
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Age
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Minimum
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21Years
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Maximum
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65 Years
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Amount
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Minimum
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Rs 5.00 lacs
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Maximum
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Rs 100.00 lacs
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Tenure
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Minimum
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12 Months
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Maximum
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48 Months
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Interest rate
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Attractive interest rate from MCLR (1 Year)+ 4.2.00% |
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Eligibility
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Minimum Bureau Score of 650 for applicant |
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Features
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- ROI discount of for better CIBIL scores
- Commercial CIBIL/ Bureau report to be Satisfactory
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Processing fees
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Processing Fees of up to 2%
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Pre closure charges
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- 3% of the outstanding loan amount for Pre-Closure
- 3% of the excess amount remitted other than EMI & any other charges
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Documents required
- Income Tax Returns along with computation of income for the last 3 Assessment Years.
- Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules.
- Latest 6 months' Current A/c Statements of the firm.
- Partnership deed in case of the business entity being a partnership firm.
- Memorandum and Articles of Association of the Company/Trust Deeds/Bye laws as applicable for the entity type.
- Title Deeds, Possession Certificate, Tax Paid, Encumbrance Certificate of the property to be mortgaged.
- For takeover of existing loan, produce the sanction order copies and the account statement.