- SME Banking
- Business Expansion
- Term Loan
Term Loan
We offer term loan for acquisition of commercial property, purchase of fixed assets and business expansion, including loan against property to business with turnover ranging from Rs. 1 crore to
Rs. 110 crore. This loan is useful for professionals, proprietors, partnership firms and private limited companies.
Special features
- Longer tenor of up to 10 years*
- Attractive interest rates*
- A dedicated Relationship Manager to cater to your business needs
- Quick turn around time*
*Conditions apply
FAQS
For whom is the Term Loan product useful?
- The target segment includes manufacturers, retail/wholesale traders and service providers.
Which entities are eligible for Term Loans?
- Self employed individuals and professionals
- Sole proprietors/proprietorship firms
- Partnership firms
- Pvt. Ltd. Companies (including closely held limited companies)
- Listed public limited companies with promoter holding greater than or equal to 51% holding are within target segment
What is the maximum tenor of the term loan?
- Depending on the purpose of the term loan, the tenor varies between 5-15 years. It can be lower than this depending on the cash flows of the customer. Specific details would be provided by the sales officer.
What are different types of term loans offered?
The different types of Term loans offered to the target segment are
- Loan for acquisition of property
- Business expansion
- Purchase of fixed assets
- Construction of factory premises, warehouses and branches etc
What is the minimum and maximum turnover range to be eligible under
Term Loan?
-
The turnover requirement ranges from Rs. 1 crore to Rs. 110 crores.
What is the minimum and maximum loan amount offered under
Term Loan?
-
The minimum amount is Rs. 30 lakhs and maximum amount is Rs. 22 crores subject to conditions that will be explained by the sales officer.
What is the minimum amount of security that needs to be given
as collateral?
- The collateral required depends and varies from case to case.
What are the minimum documents I need to submit for sanction?
- Audited financials of previous three years
- Bank statements of last six months
- Net-worth statements and tax returns of the borrowers/promoters and guarantors
- Identity and address proof
- Proof of underlying invoice on the purchase of assets
- Specific details would be provided by the sales officer
What is the rate of interest that would be charged on Term Loan?
-
The rate of interest charged would vary from case to case based on the strength of financials, facilities offered, tenor etc. Specific details would be provided by the sales.
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