( Term Loan And Cash CREDIT)

Who can apply

• Professionals 
• Business Men
• Educational trusts
• Builders and Contractors

Purpose

• Expansion of Business
• To purchase site for Business
• To purchase plant and machinery
• Working Capital

Repayment 

• Generally 60 To 120 monthly installments-reducing balance in case of Term Loans or according to the projected period of project finance.

Securities

• Minimum two Sureties out of which one should be an income tax payer and one should be a Business man.
• The Borrower and all the sureties should be Regular/Nominal members of the Bank.
• Collateral security 

Documents Required

• Loan application 
• Residential proof of Applicant and sureties
• Certified Balance sheet and Profit & Loss A/c. Statements of the borrowers and sureties. 
• Income Tax Returns of last three years of the Borrower(s) and the sureties.
• If the applicant/surety is a partnership firm then the copy of registered partnership deed and   registration certificate are required.
• If the applicant / surety is a private limited company /public limited company then a copy of   Memorandum of Association or Article of Association is required.
• Shop Establishment License
• All the original documents of main and collateral securities.
• Latest valuation report of property, vehicle etc.
• In case of shop ,flat etc. society/builder’s NOC is required.
• Any other document required by bank.
• Title Clearance Certificate of the immovable property