Features Term Loan is given in one shot to meet long term Working capital requirement of the company against collateral security. This secured loan is given for purchase of machinery or any other business long term financial requirements. Key Features of Term Loan : - Loans start from Rs. 5.00 lacs & above. Repay with easy equated monthly installments The tenure of the loan repayment could range from 12 to 84 months. Interest is calculated on a monthly reducing balance basis. The loans are generally approved within 10 working days of submission of complete documentation. This loan can be used business purpose only.
Eligibility Proprietorship/partnership/Pvt. Ltd company Minimum 3 years old company in the same business Minimum 1year old operation at same place Profitable business for the last 2 year Have a clean track record of at least 12 month from any MNC bank Applicant must own office or residence. Title to the property should be clear and free from encumbrance, i.e., without any pending legal litigation adversely affecting the ownership of the property. Age minimum 23 & the repayment should be before attaining the age of 65 years. Turnover minimum 40 lacs & above per annum for the last 2 years.
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Suitable For Long term working capital needs For purchasing machinery, Business expansion
Loans start from Rs. 5.00 lacs & above.
