Services

Eligibility

Business Enterprises who have been operating business with minimum of three years in the same line of business.

Employees of Central/ State Govt. / Schools/Colleges/ Public Sector Undertakings (PSUs)/ Reputed Corporates and Other Income Tax Assesses. who between the age group of 18 to 58 years.

Loan Amount

Minimum- INR 20,000/- Maximum- INR 50,00,000/-

Minimum- INR 20,000/- Maximum- INR 25,00,000/-

Tenure

Minimum- 06 Months Maximum- 60 Months

Minimum- 06 Months Maximum- 60 Months

Rate of Interest

18% – 22.5 % p.a.

18% – 22.5 % p.a.

Processing Fees

3.5% of the loan Amount + GST

3.5% of the loan Amount + GST

Age of Applicant

18 years or above

18 years or above

Income Proof

Documents:
‣ Any business vintage proof will be acceptable (For example ITR)
‣ Shop Establishment Certificate
‣ GST Certificate
‣ Business Premises Proof
‣ Bank Statement
‣ Third-Party Checks by Credit During PD
‣ Udhyam Certificate
‣ Last 3 Month Salary Slip

Documents:
‣ Last 3 Month Salary Slip
‣ Last 3 Years ITR
‣ Bank Statement or any justified Income proof

Bureau Score

Minimum 650 or {-} 1 for all applicants/co-applicants.

Minimum 650 or {-} 1 for all applicants/co-applicants.

Method Of Calculating Eligibility

‣ Income of applicants related by blood of spouse can be considered.
‣ 100% of individual income of husband and wife and other co-applicant to be considered for loan.
‣ More than 3 months and are not getting closed should reconsider under obligations.
‣ (Blood relation to be defined. Considering agriculture income, we need to take approval.)

‣ Income of applicants related by blood of spouse can be considered.
‣ 100% of individual income of husband and wife and other co-applicant to be considered for loan.
‣ More than 3 months and are not getting closed should reconsider under obligations.
‣ (Blood relation to be defined. Considering agriculture income, we need to take approval.)

Age of Bank Account

Minimum 6 months (Considered but repayment can be taken from new bank account in case of customer having bank account in any rural bank)

Minimum 6 months (Considered but repayment can be taken from new bank account in case of customer having bank account in any rural bank)

Repayment Track Record

One bounce in last 6 months subject to repayments are made within maximum 20 days & in such case, the EMI overdue should be Nil at the time of application & bounce should be cleared in the current month itself, proof provided i.e., never in 30 DPD (Exceptions to be considered due to lockdown in April- May 2021, there are many customers who are unable to deposit EMI in their account due to lockdown). -Maximum 3 bounces in last 12 months allowed subject to repayments are made within maximum 20 days, in such case, the EMI overdue should be Nil at the time of application & bounces never in 30 DPD.

One bounce in last 6 months subject to repayments are made within maximum 20 days & in such case, the EMI overdue should be Nil at the time application & bounces should be cleared in the current’s month itself, proof provided i.e.,never in 30 DPD (Exceptions to be considered due to lockdown in April-May 2021, there are many customers who are unable to deposit EMI in their account due to lockdown). -Maximum 3 bounces in last 12 months allowed subject to repayments are made within maximum 20 days, in such case, the EMI overdue should be Nil at the time of application & bounces never in 30 DPD.

FOIR

Maximum 50% of assessed income.

Maximum 50% of assessed income.

Property Ownership

The applicant / co applicant shall own a residential or commercial property. Property jointly held by borrower with father or mother. Note: Vacant plot or land is not be considered as property.

The applicant / co applicant shall own a residential or commercial property. Property jointly held by borrower with father or mother. Note: Vacant plot or land is not be considered as property.

Proof of Property Ownership

‣ Latest copy of Title deed or Corporation Tax Receipt / Patta document
‣ Share certificate of any authorized co-operative society.
‣ Electricity bill
‣ Tax bill

‣ Latest copy of Title deed or Corporation Tax Receipt
‣ Share certificate of any authorized co-operative society.
‣ Electricity bill
‣ Tax bill

Documents for Applicant

‣ 01 Photograph (Passport size)
‣ 06 or more cheques as required of Applicant
‣ Copy of a PAN card
‣ Copy of a UID (Aadhar Card)
‣ Copy of a Voter ID
‣ Latest Residence Proof (Light Bill/Tax Bill/Sale Deed)
‣ Copy of a Driving License
‣ Copy of a Passport
(Any 2 KYC is Compulsory)

‣ 01 Photograph (Passport size)
‣ 06 or more cheques as required of Applicant
‣ Copy of a PAN card
‣ Copy of a UID (Aadhar Card)
‣ Copy of a Voter ID
‣ Latest Residence Proof (Light Bill/Tax Bill/Sale Deed)
‣ Copy of a Driving License
‣ Copy of a Passport
(Any 2 KYC is Compulsory)

Documents for Co- Applicant

‣ 01 Photograph (Passport size)
‣ 02 or more cheques as required of Applicant
‣ Copy of a PAN card
‣ Copy of a UID (Aadhar Card)
‣ Copy of a Voter ID
‣ Latest Residence Proof (Light Bill/Tax Bill/Sale Deed)
‣ Last 6 months Bank Statement
‣ Last 3 Month Salary Slip
‣ Last 3 Years ITR
‣ Business Proof (GST Certificate / Udhyam Certificate)

‣ 01 Photograph (Passport size)
‣ 02 or more cheques as required of Applicant
‣ Copy of a PAN card
‣ Copy of a UID (Aadhar Card)
‣ Copy of a Voter ID
‣ Latest Residence Proof (Light Bill/Tax Bill/Sale Deed)
‣ Last 6 months Bank Statement
‣ Last 3 Month Salary Slip
‣ Last 3 Years ITR