Loan/ Advances to trade commerce & Industries
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Loan/ Advances to trade commerce & Industries:
- Last three years balance sheet, copy of income tax return, copy of Partner’s personal return , Memorandum and Article of Association in case of limited company, resolution for loan application.
- Tax bill of Property
- Three photographs of Applicant
- Business proof of Applicant
- Applicant’s Pan card / Partner’s Pan Card / Limited Company’s Pan card
- Bank account statement of last 2 years
- Stock statement of the business
- Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
- Photograph-two copies
- Last tax bill
- Last income tax return copy / Pay slip of last 3 Months.
- Address proof – electric bill /telephone bill (any one)
- Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)
- The limit will be decided on the basis of turn over (sales) / projected sales i.e. 20% of turnover (sales) or projected sales against stock 30% margin of stock.
- Applicant has to provide collateral security to the tune of 70% of the limit by way registered mortgage declaration of residential premises, office, shop, godown, shed etc.
- Insurance of stock and mortgage property to be taken in favour of bank by the applicant.
- Original documents such as share certificate, Sale deed, Tax receipt allotment letter are required for registered mortgage of the property.
- Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
- Applicant has to submit stock statement at book debt and before 10th of the book debt .
- The applicant has to provide two guarantors.
- Limit is subject to renewal after 12 months.
- Applicant has to take share @ 1%, 2%, 2.5% of the limit.
|Type of loan/Advances
|Loan/ Advances to trade commerce & Industries
Up to Rs.100 lacs
Above Rs.100 lacs
Mortgage Loan: (House/Shed/Shop/Office )
For Purchase of New T.V., Fridge, A.C., Washing Machine ,Furniture, Computer, etc.