Professional Loan
________
Business Loan
( 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