Business BankingDomestic FinanceUnsecured Business Loan-SIB Easy Biz


Name of the scheme

Unsecured Business Loan-SIB Easy Biz

Key features
  • Collateral-free funding up to Rs.50 lakhs for meeting business requirements.
  • Assessment based on Sales turnover/ITR filed/Account operations.

Target Customers

 (i) Self Employed Non-Professionals (SENP): MSMEs-Manufacturers, Traders, Wholesalers, Retailers, Service Providers

 (ii) Self Employed Professionals (SEP): Doctors, CA, CS, ICWA, Architect, Engineer, etc.

Nature of finance

Term Loan

Quantum of Finance

Rs.10 Lakhs to Rs.50 lakhs

Period of Loan

36 months

Minimum eligibility requirements for SENP

GST registration mandatory for SENP

Minimum business vintage of 3 years

Minimum turnover of Rs.100 lakhs

Minimum eligibility requirements for SEP

Minimum work experience/business vintage of 3 years

Minimum ITR of Rs.3 lakhs in last 2 years


Minimum age: 21 Years and allowed up to maximum 65 years 

Personal Guarantee

In the case of proprietorship and SEP, spouse or any close relative of the proprietor/professional should join as guarantor.

In the case of Partnership/LLP, all partners to join the documents in dual capacity.

In case of Company, all directors to join as guarantor.

Office / Residence Stability

Either office/business unit/factory or residence should be owned by the borrower/proprietor/any of the partner/director/guarantor in the account.

Processing fees
Up to 2.00%

Rate of Interest / Charges/

As per pricing norms of the Bank.

Documents required for assessment

  • KYC documents of the borrower/guarantors- Photo identity and Address proof as per RBI defined KYC guidelines
  • 2 years Audited/Unaudited financials
  • Last 12 months GST returns
  • 2 years ITR with computation sheets
  • Last 12 months Current account statement
  • Proof of residence/Proof of Office, business
  • Latest licenses and approvals for running the business
  • Any other relevant documents called for by the Bank