Applicant details :
- 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.
- Three photographs of Applicant
- Business proof of Applicant
- Applicant’s Pan card / Partner’s Pan Card / Limited Company’s Pan card
- Bank statement of last 2 years
- Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
- Applicant should have Savings/ current Bank account with the bank.
- Address proof – electric bill /telephone bill -land line (any one) As per KYC norms
- Photo proof – Pan card / Voter card / Driving license (Any one) As per KYC norms
Guarantor Details :
- Photograph-two copies
- Last tax bill
- Last income tax return copy
- Address proof – electric bill /telephone bill- land line (any one)As per KYC norms.
- Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)As per KYC norms.
- Original documents of property Such as share certificate, sale deed, tax receipt, allotment letter are to be submitted to the bank. Registered mortgage of property to be done in favour of bank.Banks charge will be noted in Association / society’s book.
- Bank will give loan if property is having N A N O C and BU permission
- Applicant will have to take insurance of the building in favour of bank.
- 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 provide two guarantors.
- business-mortgage loan is to be repaid with interest within 84 equal monthly instalments. whereas business mortgage overdraft facility is subject to maximum after 12 months.
- imit will be decided on turn over basis as per bank rules or 70% of the value of the property , whichever is less
- Applicant is required to submit stock statement creditors list and statement of book-debts on monthly basis and the copy of balance sheet as on 31st march every year.
- Aplicant has to take share @ 2.5% of the limit.