Term Loan Back

Purpose
Bank provides term loan for acquisition of fixed assets, set up, expansion /modernization of the business units

  • Eligibility
    • Proprietorship, Partnership, Company.
  • Documents Required
    • Copy of Registration of the firm/ Company
    • KYC compliance
    • Copy of partnership deed, Memo & Article of Association etc (wherever applicable)
    • SSI registration certificate (in case of SSI unit)
    • Registration Certificate under Mumbai Shop & Establishment Act
    • Copies of last three years audited Balance sheet/Profit & Loss account
    • Last three years income tax returns
    • Copy of bank account statement
    • Project report/profile with projected balance sheet / P&L account (wherever applicable)
    • Original title deeds of property offered as security, tax receipt, sanctioned map, city survey record etc
  • Rate of Interest
  • Extent of loan
  • 75% of the cost of the Asset/(s) to be purchased or as per the sanctioned terms, maximum upto bank's exposure limit.
  • Margin
  • As per Bank's policy/sanction terms from time to time
  • Rebate
    • Maximum to the extent of 1 % on adherence of financial discipline as per sanctioned terms
  • Duration
    • Maximum up to 84 months or as per terms of sanction.
  • Security
    • Prime security - Hypothecation of assets created out of Bank finance.
    • Collateral security-Registered / equitable mortgage of the immovable property valued to the extent of 100% of the loan sanctioned or as per terms of  sanction
    • Guarantee from two guarantors, with adequate means / net worth.
  • Loan Charges
    • Processing / Scrutiny Charges : 1.15% of the loan amount or as per the sanctioned terms.
    • 2. Share linking - Borrower will be required to purchase the shares of the Bank (as per sanction terms)
  • Other Conditions
    • As per Sanctioned Terms
    • Margin as per Banks policy as amended from time to time
    • Copies of quotations for purchase of asset/(s), Machinery etc 
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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