Overdraft to Professionals Loan Back

Purpose
For purchase of equipments, appliances, required for profession
For purchase /repairs / Renovation of Shop / Office Block

  • Eligibility
    • Individuals/proprietors/partnership firms /medical Practitioners/ Chartered accountants engineers or as specified by bank from time to time
  • Documents Required
    • KYC compliance
    • Copy of registration
    • brief project report
    • Income proof (IT Returns for last three years)
    • Copy of PAN-card
  • Rate of Interest
  • Overdraft
  • Overdraft: Need based.
  • Extent of loan
  • Maximum upto Rs. 50.00 Lakhs.
  • Term Loan
    • 75% of the quotation / estimated cost
  • Repayment
    • Term Loan: Maximum upto 7 years in monthly equated installments.
    • Overdraft: shall be renewed, every year, subject to satisfactory performance/ submission of financial papers, etc.
  • Security
    • Hypothecation of the equipments/ appliances etc purchased
    • Registered / equitable mortgage of the property offered as security
    • Two suitable guarantors, with adequate means / net worth.
  • Loan Charges
    • Processing / Scrutiny Charges : 1.15% of the loan amount or as per the sanctioned terms.
    • Share linking - Borrower will be required to purchase the shares of the Bank (as per sanction terms)
Other Loans facilities

172, Shraddhanand Peth,
South Ambazari Road,
Nagpur-440010
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0712 - 2221120, 2221686
+91 9158884855,
+91 9158884844, +91 9158884845
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