Janvyapar Loan

To provide security based finance with reduced paper work and simplified procedure to the small traders/ professionals/service sector.

Business Enterprises engaged/ proposed to engage in the business of trading of goods or providing services in the sectors acceptable to the bank. Start Up are also encouraged.

Cash Credit /Term Loans/ Mortgage OD above Rs.5.00 Lakhs upto Rs.25.00 Lakhs

Security:

Prime

MOD Mortgage of Immovable Property.
CC Hyp.of paid stock and book debts upto 90 days.
TL – Hyp.of equipment, machineries purchased out of bank finance.

Collateral – In case of CC, collateral acceptable to bank such as EQ mortgage of residential flat, office premises, gala or pledge of FDRs, RDs, NSCs, S.V. of LIPs (Value of Security should be atleast 25% of the limit.)

Repayment:
CCHYP/MOD-Annual Review
TL- upto 10 years (incl. 12 months moratorium)

KYC documents of applicant and guarantor.
Last 3 years audited balance sheet/income expenses statement of the shop firm/company.
Last 3 years income tax returns copies of owner/proprietor/Partner/director.
All licenses/permits applicable for running business.
Copy of existing Bank account statements for last 12 months.
Any other document required by the Bank.

Share Linkage: 1% of loan amount
Guarantor: 1
Multiple Banking allowed for valid reasons
Rate of Interest as applicable
No Pre-payment penalty
Takeover charges as applicable