Anyone who owns a small and medium enterprise be it an individual, a partnership firm, or even proprietorship are eligible for this loan.
The age requirement for application should be a minimum of 23 years of age during the application, and must not be over 60 years of age when the loan has reached its maturity.
The individual who is applying for the loan must be in the line of business for a minimum of 2 years at least.
Subject to the bank’s discretion, new entrepreneurs will also be considered for this loan.
Any non-individual or proprietorship who wishes to apply for this loan should have a successful track record of at least 2 years in the same line of business.
The completely filled application form.
All the KYC or know your customer documents such ID proof, address proof, etc. will have to be given to the bank.
All financial related documents for the last 2 years of the enterprises existence will need to be provided.
A Performa invoice copy will also need to be provided.
3 passport photographs of the applicant be it an Individual Borrower, Director or Partner applicant will need to be submitted to the bank.
If a guarantor is required, 2 passport photographs of the guarantor will also need to be submitted.
All ownership documents of the enterprise will have to be provided to the bank.
Related documents such partnership deed, memorandum of association, and articles of association must also be provided to the bank at the time of application.
The bank can request for further information and documentation as well which the applicant will need to provide.
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
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