Term Loan

  • Funds to support a new business initiative or expansion  

  • Loan amount offered depends on the assessment of the borrower’s documents and the bank’s policy 

  • Loan tenure – Maximum 7 years (84 months) including moratorium period of maximum 3 months 

  • All assets financed to be insured with bank clause

  • Owner of a small/medium enterprise – sole proprietorship, partnership firm or proprietorship, Limited Liability Partnership (LLP) 

  • Age

    • Minimum – 23 years

    • Maximum at loan maturity – 60 years 

  • Non-individual applicants must have a minimum of 2 years of experience in the same line of business 

Pre-Sanction Documents: 

  • Duly filled application form 

  • 3 passport size photographs of the Individual Borrower/Directors/Partners 

  • 2 passport size photographs of the guarantor, if required 

  • KYC documents 

  • Financial statement of last 3 years 

  • Trade licence or any other regulatory license applicable to the unit 

  • Statement of existing Bank account for last 6 months 

  • Ownership documents of security 

  • Copy of Partnership deed/copy of MOA & AOA or other related documents in case of company/partnership firm 

  • Bank may ask for other information if required to process the loan. 

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