Business OD
Meet your day to day routine and regular expenses with our Business OD
Purpose
- To meet the urgent requirements of Educational Institutions and hoteliers for meeting regular and emergency expenses
Who Can Borrow
- Educational institutions /Hotels /Guest Houses /Restaurants
Loan Amount
- Maximum Rs. 50 lac
- Minimum Rs. 10 lac
Rate Of Interest
- The rate of interest as decided by the bank from time to time
Margin
- NIL
Security
- Up to Rs. 5.00 lacs- NIL
- Above Rs. 5.00 lacs- Equitable mortgage of property or liquid security in the form of fixed deposits of bank, NSC, KVP, LIC etc.
Guarantors
- Two guarantors of well placed means acceptable to the Bank
Processing Fees
- 0.5% of the loan amount + GST
Share Holding
- 1.50% of loan amount
Documents Required
- Photograph , PAN and KYC documents of borrower and guarantor
- Balance Sheet of last three years, ITR of last three years, Bank statement of business a/c for last six months.
- Partnership deed and registration certificate in case of partnership firms, Certificate of incorporation, date of commencement of business and memorandum and article of association in case of companies where applicable
- Relevant documents related to the property being mortgaged like Title Deed, mutation copy, sanctioned map etc as applicable)