Business Loan
Top-up loan to cover all your extra expenses. From Business Expansion / House Expenses / Personal Expenses to self-declared expenses.
Eligibility Criteria
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A borrower should have a relationship with our bank with a minimum last 3 years satisfactory loan account repayment history.
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The composite income of spouse can be taken into account.
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The proportionate amount so as to monthly net income (NP + Depreciation + TL Int.) of last year, including proposed loan EMI should not be less than 1/3rd, as per income tax returns.
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Undertaking/MOU of mortgagor/borrower with guarantors consent for the continuation of Existing Registered / Equitable Mortgage of Land & Building till the closure of subject Personal Loan. There should be a margin equal to or more than 1.25 times of business loan to the amount sanctioned.
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Precaution to be observed Unsecured Loan Limit per borrower sanction amount should not exceed Rs. 5 Lac at any point in time. Confirm that Existing Loans are Regular from the disbursement date.
