Demand Loan
This loan is suited for meeting short term and seasonal business needs
Purpose
- Short term business needs
- Seasonal Needs for a short time
Who Can Borrow
- Commercial Establishments i.e. partnership firms/ pvt. Limited Co./limited cos./any other commercial organization/ registered societies
Loan Amount
- Minimum 1 lac
- Maximum 600 lac
Margin
- Minimum 25%
Repayment
- Maximum 12 months
Rate Of Interest
- The rate of interest as decided by the bank from time to time
Security
- Hypothecation of stock, book debts
- Mortgage of property and other securities the bank may consider appropriate
Guarantors
- Two Guarantors whose net worth is acceptable to the bank
Processing Charges
- 0.5% of loan amount + GST
Share Holding
- 1.5% of the loan amount.
Documents Required
- Photograph , PAN and KYC documents of borrower and guarantor
- Financial statements as per requirement from case to case
- Cash flow Chart for repayment of loan
- 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)