Term Loan

  provides different types of term loans having a different interest rate, term, qualification. Term loan is a short to long term loan given by banks to business. Businesses utilise this amount to meet its working capital requirements, asset purchase, expansion, etc.

Benefit of Term Loan

• Type of Loan : Term Loan.
• Purpose : Capital expenditure, acquisition of fixed assets like purchase of machinery/equipments, expansion, modernization/technology up- gradation activities etc.
• Maximum Loan Limit : Need based– within the bank’s exposure limit.
• Margin : As per Banks policy from time to time.
• Repayment : Maximum up to 60 months.
• Rate of Interest : As per Bank B.O.D.

Eligibility

1. Who can borrow : Proprietorship, Partnership, Pvt. Ltd. & Public Ltd. Companies.
2. Prime Security : Mortgage of landed property, Hypothecation of Plant & Machinery.
3. Collateral Security : If required, on case to case basis.

Document Required

Duly filled in application form signed by the customer

• KYC Documents - Business Proof.
• KYC Documents - (Applicant & Guarantor).
• Relevant financial documents - ITR/P&L /Balance Sheet ( Applicant & Guarantor).
• Bank account statement of last 6 months.
• Photograph.

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