Business Loan
You always need funds to take full advantage of growth opportunities in your business. Grow your business or expand without disturbing your personal investments or applying for multiple loans.
Apply Business Loan starting from 3,00,001 to 15,00,000 with Utkarsh Small Finance Bank Limited.
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Business Loan starting from 3,00,001 to 15,00,000,
Loan tenure: 12 Months to 60 Months
Repayment in Equated Monthly Installment (EMI)
Foreclosure Allowed during the tenure of the loan
NACH/SI allowed for loan repayment
| Sl No. | Document |
|---|---|
| 1 | ID Proof of Borrower & Promoters as per OVD list of Documents |
| 2 | Address Proof of Borrower & Promoters as per OVD list of Documents |
| 3 | PAN Card of Borrower and Promoters |
| 4 | Constitution Document like Partnership Deed in case of Partnership firm along with list of Current Partners on Letter head of the firm. MOA & AOA, list of Current Directors on the Letter head of the firm, Shareholding Patterns in case of Pvt/Public Ltd Co. *Certificate of registration of Partnership firm (Mandatory in case firm is also the Owner of the Collateral ****Business Registration Proof like Shop & Establishment License |
| 5 | Bank statements having business transactions for last 6 months. *Last 12 Months Bank statement is required incase of Proposal being assessed through Banking surrogate Credit program or Product Program is BL Plus |
| 6 | Track record of all existing Term loan in the name of Applicant & Co-Applicant in case same is not getting verified through CB report or Bank Statement |
| 7 | ESG Declaration |
| 8 | Income Documents (For Self Employed Professionals / Businessman) |
| Latest 2 years ITRs along with Computation of Income. (Computation of Income is mandatory in case of CPM/GPM) | |
| Last 2 yrs Audited/ CA Certified Financial Statements (of the firm/ company in which the applicant / co-applicant is the partner / owner / director- as the case might be) | |
| Tax audit report, if Applicable | |
| Last 2 years ITR form, if filed under u/s 44AD or 44ADA or 44 AE | |
| Copy of Provisional Financials (CA certified /Self-attested as applicable under the Product Program/Credit Program) for the period subject to completion of FY and requirement as per the Applicable Credit Program. | |
| 9 | Other Income Proofs |
| Proof of Ownership of Property(Property Tax, Property Document) & Rent Agreement/Receipt of Rental Income in Bank SOA during last 6 months | |
| Proof of Pension (Copy of Pension Order/Form 16/ Passbook reflecting pension credits) | |
| Proof of ownership of Agricultural Land for Agri Income (Ownership documents) | |
| 10 | Udyam Registration Certificate (URC)/Document required for MSME Classification |
| 11 | GST Returns for Period for which neither Audited not CA certified financials are available |
|
S. No |
Charge Name |
Charges |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| i. | Processing Fee* | Upto 2% of Loan Amount + Applicable taxes | ||||||||||
| ii. | Account Maintenance Fee [For on MSME Loans up to 5 Lakh] | Upto 2% of Loan Amount + applicable taxes | ||||||||||
| iii. | Pre Closure Charges [Loan Priced at Fixed Rate of Interest] |
|
||||||||||
| iv. | Part Prepayment Charges [Loan Priced at Fixed Rate of Interest] | 4% of the Pre-Payment amount towards principal and applicable taxes | ||||||||||
| v. | Cheque /NACH/ SI Bouncing Charges | 500 + Applicable taxes | ||||||||||
| vi. | Penal Charges on Overdue EMI | 2% per month on overdue amount for overdue period along with applicable taxes. | ||||||||||
| vii. | Legal/Valuation Charges | As per actuals | ||||||||||
| viii. | Duplicate Interest and Principal Certificate issuance Charge | 250 + Applicable taxes | ||||||||||
| ix. | Duplicate No dues Certificate / NOC issuance Charges | 250 + Applicable taxes | ||||||||||
| x. | Swap Charges [Cheque/Instrument] | 500/- per occasion of swapping of the ECS mandate/NACH/ Standing instruction mandate+ Applicable taxes | ||||||||||
| xi. | Duplicate statement issuance Charges | 250/- per instance per set + Applicable taxes | ||||||||||
| xii. |
Charges for subsequent set of Photocopy of loan agreement/ documents where requested by Borrower |
1000/- per instance per set + Applicable taxes |
*Nil Processing Fee for MSME loans upto 5 Lakh.
Apply to Business Loan
Loan calculator
|
Interest Rate 8.00% |
Interest Earned 3,50,452 |
|
Maturity Value 13,50,452 |
Maturity Date 20 Apr 2023 |
|
(Indicative interest rates for calculation only. click here for latest rates.) |
|
FAQs
You can apply for a business loan starting from 3,00,001 to 10,00,000 .
The tenure for Business Loans is between 12 months to 48 months
Individual and Non Individual Entities
You can either visit your nearest Utkarsh Small Finance Bank's branch or write to us at [email protected], let us know about your requirement and we will get in touch with you.
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