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Loans and Advances
Offers a wide variety of Retail Loans. Whatever be your need, our range of retail loans will suit your requirement. PLR of the Bank is 16.75% w.e.f. 7th September 2024.
- Retail
Loan - Corporate Finance
Gold loan
Home Loan
Car Loan
Electric Vehicle Loan
Education Loan
Professional Loan
Doctor Loan
Solar Panel Loan
Shop Loan
Two Wheeler Loan
Personal Loan
Consumer Loan
Mortgage Loan
Life Cycle Banking Scheme
Enjoy additional loan anytime without additional security or guarantee.
Features & Benefits
- Interest charged on daily reducing basis
- No pre-payment charges for repayment through own source
- Attractive interest rate
- Simple documentation
- Easy repayment options - ECS/ Post-dated cheque/ Standing Instruction
- Low processing fee
- Speedy loan approval
- Offers Insurance cover for all assets at attractive premium
Purpose
- Renovation & Furnishing
- Higher Education
- Consumer durable
- 2 & 4 wheeler vehicle
- Medical Equipment
- Foreign Travel
- Marriage or other Ceremony
- Medical Expense
Eligibility
- Salaried / Professional / Businessmen
Quantum of Loan
- Up to ₹ 2 Lacs
Documentation
- Documentary evidence of loan purpose
Security
- Extension of Equitable mortgage
Surety
- 2 Guarantors
Repayment
- Up to 7 years
Stree Udyogika
Loan for women entrepreneurs
Features & Benefits
- Interest charged on daily reducing basis
- No pre - payment charges for repayment through own source
- Attractive interest rate
- Simple documentation
- Easy repayment options ECS / Post-dated cheque/ Standing Instruction
- Low processing fee
- Speedy loan approval
- Offers Insurance cover for all assets at attractive premium
Purpose
- Acquisition of Office premises / Industrial gala, Office- equipment, Machinery, Furniture & fixtures, Working capital, etc
Eligibility
- Manufacturing / Service unit run by women entrepreneurs
Quantum of loan
- 80%
Documentation : Refer Basic Documents - Retail Loan
Security
- Hypothecation / Mortgage of asset to be financed
Surety
- 2 Guarantors
Repayment
- Up to 7 years
Stree Sakhi
Loan for working women.
Features & Benefits
- Interest charged on daily reducing basis
- No pre - payment charges for repayment through own source
- Attractive interest rate
- Simple documentation
- Easy repayment options ECS / Post-dated cheque/ Standing Instruction
- Low processing fee
- Speedy loan approval
- Offers Insurance cover for all assets at attractive premium
Purpose
- Purchase of Consumer durables
Eligibility
- Salaried / Professional / Businessmen
Quantum of loan
- Up to Rs 2.00 Lacs
Documentation : Refer Basic Documents - Retail Loan
Security
- Hypothecation of asset to be purchased
Surety
- 2 Guarantors
Repayment
- Up to 5 years
Conditions Apply
Working Capital (Cash Credit)
Working capital finance by way of cash credit to fund day-to-day business operations.
Features & Benefits
- Interest charged on a daily product basis, at monthly rest
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- To meet the working capital requirement of business in the form of cash credit facility against inventory and book debts
Eligibility
- Promoters with a satisfactory background
Quantum of Facility
- Based on turnover, as per RBI guidelines
Documentation : Refer Basic Documents - Corporate Loan
Security
- Primary : Hypothecation of stock & book debts
- Collateral : If required, case to case basis
Over Draft Against Property
Overdraft against property to increase business opportunities.
Features & Benefits
- Interest charged on a daily product basis, at monthly rest
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- To meet the working capital requirement
Eligibility
- Promoters with a satisfactory background
Other Norms
- 15 % for Trading and 20 % for Manufacturing of the turnover
- 60 - 75 % of valuation of the property
- Minimum current ratio of 1.05 : 1
- Profit record of minimum 2 years
- Audited balance sheet of the previous year
Documentation : Refer Basic Documents - Corporate Loan
Security
- Hypothecation of stock, book debts and mortgage of immovable property
Bank Guarantee
To satisfy your need of advance payment or performance guarantee.
Features & Benefits
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- Security deposit, retention money/mobilization/performance guarantee, bid bond etc
Eligibility
- Promoters with a satisfactory background
Documentation : Refer Basic Documents - Corporate Loan
Security
- Cash margin backed by acceptable collaterals
Term Loan
Finance for purchase of fixed assets.
Features & Benefits
- Loan is either in one stroke or in stages to the extent of limit sanctioned, with contribution of own margin
- Interest charged on daily reducing basis, at monthly rest
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- To fund new projects & to acquire assets for existing unit
Eligibility
- Promoters with a satisfactory background
Quantum of Loan
- Maximum 75% of assets to be acquired
Documentation : Refer Basic Documents - Corporate Loan
Security
- Primary : Hypothecation of movable assets / Equitable / Registered mortgage of immovable property
- Collateral : If required, case to case basis
LC Discounting
Designed to meet your business requirement.
Features & Benefits
- Interest charged on upfront basis for the unexpired usance
- Low rate of interest as compared to PLR
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- To finance business requirement
Eligibility
- Bills backed by confirm local inland L/Cs of reputed bank with tenure not exceeding 180 days
- NOC, if enjoying credit facilities from financial institutions
Documentation : Refer Basic Documents - Corporate Loan
Security
- L/Cs / Bills payment confirmed by Bank
Busifina
Funds meant to augment working capital for small and medium business enterprises.
Features & Benefits
- Interest charged on daily reducing basis, at monthly rest
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- To augment working capital
Eligibility
- Promoters with a satisfactory background
Other Norms
- 60 - 75 % of valuation of assets as per book value
Documentation : Refer Basic Documents - Corporate Loan
Security
- Hypothecation / mortgage of asset already purchased
SME Finance
Funds to bolster the working of a small and medium business enterprise.
Features & Benefits
- Interest charged on daily reducing basis, at monthly rest
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- Term loan / Working capital to meet business requirement
Eligibility
- Promoters with a satisfactory background
Documentation : Refer Basic Documents - Corporate Loan
Security
- Primary : Hypothecation of movable assets / Equitable / Registered mortgage of immovable property
- Collateral : If required, case to case basis
Letter of Credit
To help you procure raw material or acquire fixed assets.
Features & Benefits
- Simple documentation
- Low processing fee
- Speedy approval
- Comprehensive business services under one roof
Purpose
- To procure raw material or fixed assets
Eligibility
- Promoters with a satisfactory background
Documentation : Refer Basic Documents - Corporate Loan
Security
- Primary : Asset to be procured under letter of credit with cash margin
- Collateral : If required, case to case basis
Bill Discounting
Designed to meet your business requirement.
Features & Benefits
- Interest charged on upfront basis for the unexpired usance
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- Fund business requirement
Eligibility
- Bills accepted by limited company with a good repute
- Bills not exceeding 90 days usance
- NOC, if you’re enjoying credit facilities from financial institutions
Documentation : Refer Basic Documents - Corporate Loan
Security
- Accepted bills of exchange / Hundi's
Rent Discounting
Discount your future income to multiply returns and investment in assets.
Features & Benefits
- Interest charged on daily reducing basis
- Simple documentation
- Low processing fee
- Speedy approval
- All services under one roof
Purpose
- To meet financial requirement
Eligibility
- 90 % of net rent receivable for the unexpired period of lease (Net of TDS and advance rent)
Quantum of Facility
- Up to 70 % of the market value of the security offered or actual rent to be received after discounting; whichever is lower
Documentation : Refer Basic Documents - Corporate Loan
Security
- Equitable / Registered mortgage of property given on rent
Conditions Apply
Disclaimer
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