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Business Loan
basis Banking Conduct

Banking Solutions for MSMEs

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Long Term Business Loan basis Banking Conduct

Every business needs the right boost to grow and succeed. Now, your bank statements can get you a business loan up to Rs. 35 lakh through hassle free process. Our banking program caters to MSME customers both self employed professionals and non-professional business owners.

  • Loan based on 12 months banking conduct
  • No collateral and quick process
  • No additional financials document required
  • Flexible repayment options
Business Vintage
  • Minimum 3 years
Business Turnover
  • For loan amount:
  • <10 lakh – Not applicable
  • >10 lakh – 1 CR
Age
  • Minimum 21 years at the time of loan application
  • Maximum 65 years at the end of loan tenure
Minimum Income
  • For loan amount:
  • <10 lakh – NA
  • >10 lakh – 3 lakh
Business Profile
  • Doctors, CA, CS, ICWA, Engineers, ICWA, Traders, Manufacturers, Retailers, Wholesalers, Service providers
Documents
  • KYC Documents
  • Bank statement for 12 months
Loan Processing Charges

Up to 2% + applicable taxes

Part Pre-payment Charges

2% + GST on amount prepaid

Foreclosure Charges
  • Up to 24 months – 4% of principal outstanding + GST
  • 25-36 months – 3% of principal outstanding + GST
  • >36 months – 2% of principal outstanding + GST
Penal Interest

2.00% p.a. on the amount on overdue installments

Repayment Instruction/Instrument Return Charges

Rs. 399/- per instance + applicable taxes

Q. What is maximum loan period for loan based on banking statement?

A. Maximum tenure for loan based your banking statement is 36 months.

Q. What is the interest rate offered on your loan facility?

A. We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.

Q. What is basic eligibility to avail a business loan based on banking statement?

A. To avail business loan under banking programme,

  • Business vintage should be minimum 3 years
  • Business income should be minimum Rs. 3 Lakh and
  • Either office/ residence has to be owned by the borrower.
Q. What is the repayment structure of the loan?

A. Repayment shall be monthly, including principal and interest. You can repay a business loan and its EMI through the following channels:

  • At the branch
  • ECS
  • Net Banking
Q. Is UDYAM registration mandatory for availing business loans?

A. To avail various benefits as per government guidelines to boost MSME Business, MSME registration for borrower is mandatory.