Utkarsh Smart Business
Meet your day to day business related requirements with Utkarsh Small Finance Bank's Utkarsh Smart Business. The loan offers working capital facilities in the form of Overdraft and Dropline Overdraft (DLOD) limits. The credit facility ranges between ₹ 10,00,000 and ₹ 1,00,00,000. secured against collateral. The limit is renewable every year for overdraft limits. The tenure is for a minimum of 3 years and up to 10 years.
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Loans range between 10,00,000 to 1,00,00,000
Loan tenure: Overdraft: 1 year, renewed annually. DLOD: Min 36 Months – Max 120 Months
Pay interest as per utilization of funds
Foreclosure Allowed during the tenure of the facility
No monthly principal repayment obligation in case of overdraft facility
| 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 of last 6 months.(Bank statements of last 12 Months is required incase of Proposal being assessed through Banking surrogate Credit program) |
| 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 | Udyam Registration Certificate (URC)/Document required for MSME Classification |
| 9 | Beneficiary Owner Declaration, if required (Applicable incase condition for the same is stipulated by Credit in CAM) |
| 10 | Income Documents (For Self Employed Professionals/Businessman) |
| Latest 2 years ITRs/As per applicable Product Program. (Computation of Income is mandatory in case of CPM/GPM) | |
| Last 2 yrs Audited/Unaudited/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 44AE | |
| 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. | |
| 11 | 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) | |
| 12 | Collateral Documents |
| Title deed (copy) for minimum last 13 years | |
| Chain documents of title of property ownership if available (copy) | |
| Latest Property Tax receipt copy (if available) | |
| Copy of sanctioned building plan (if applicable) | |
| 13 | GST Returns for Period for which neither Audited not CA certified financials are available |
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S. No
|
Charge Name |
Charges |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Loan Priced at Fixed rate of Interest |
Loan Priced at Floating rate of Interest |
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| i. | Login fee | Upto ₹10000 plus taxes as applicable | |||||||||||||||||||
| ii. | Processing Fee* | Upto 1% of Sanctioned Limit/Loan Amount plus applicable taxes | |||||||||||||||||||
| iii. | Pre Closure Charges [For DLOD & Term Loan] | i. Not Applicable in case of Micro & Small Enterprises [MSE] for Loan Amount up to Rs. 50 lakh. Ii. For Loan Amount greater than 50 Lakh and MSE borrower category below matrix to be followed |
i. Not Applicable for Loans availed by MSE borrowers. ii. For Loans other than specified above, below matrix to be followed |
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| iv. |
Pre Closure Charges [For OD Account] |
Not Applicable | i. Not Applicable for Loans availed by MSE borrowers. Ii. In case of non MSE, A foreclosure or Prepayment penalty of 2% of the facility amount to be levied to the borrower in case of closure of the facility by Takeover by other Banks/Fls. ln case borrower is pre closing the OD facility from own sources, then no pre-closure charges will be levied. Also in case OD facility is being closed at the time of Renewal [Before renewal due date but not before 30 days from the date of renewal due date] then No Pre-Closure charges will be applied |
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| v. |
Part Prepayment Charges(For DLOD & Term Loan)
|
i. Not Applicable in case of Micro & Small Enterprises [MSE] for Loan Amount up to Rs. 50 lakh. Ii. For Loan Amount greater than 50 Lakh and MSE borrower category below matrix to be followed |
i. Not Applicable for Loans availed by MSE borrowers. Ii. For Loans other than specified above below matrix to be followed |
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| 4% of the Pre-Payment amount towards principal and applicable taxes | |||||||||||||||||||||
| vi. | Cheque /NACH/ SI Bouncing Charges | 300 + Applicable taxes |
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| vii. | Commitment Fee | 2% per annum, if average utilisation of the sanctioned limit is less than 60% in any quarter plus applicable taxes | |||||||||||||||||||
| viii. | Cheque Deposited and Returned [outward] charges | Rs. 200 Per Cheque plus applicable taxes | |||||||||||||||||||
| ix. | Cheque Return [Inward] charges | Rs. 300 Per Cheque plus applicable taxes | |||||||||||||||||||
| x. | Penal Charges | The Penal Charges will be charged @ 2% per month [along with applicable taxes] for each instance of interest amount not being served on due date. The Borrower will be given 10 days to serve the Interest debited failing which Penal Charges will be charged. The Penal Charges will be charged on the unpaid interest amount till the time Interest is serviced by the borrower | |||||||||||||||||||
| The Penal Charges will be charged @ 2% per month on the total utilized amount along with applicable taxes in case of delay in Renewal of the Credit facility. The Penal Charges will be charged for the period the credit facility is not renewed in the bank system. Bank will keep charging contracted ROI on the utilized portion as per the normal process as well. | |||||||||||||||||||||
| The Penal Charges will be charged @ 2% per annum on the total utilized amount along with applicable taxes for any Non-Compliance to the Agreed Terms and conditions of the sanctioned facility. The Penal Charges will be charged till compliance of the terms and conditions is done by the borrower. Bank will keep charging contracted ROI on the utilized portion as per the normal process as well. | |||||||||||||||||||||
| xi. | Legal/Valuation Charges | As per actuals | |||||||||||||||||||
| xii. | Renewal Fees | Upto 1% of Sanctioned Limit/Loan Amount plus applicable taxes | |||||||||||||||||||
| xiii. | Duplicate issuance of No dues Certificate / NOC | ₹ 250 plus applicable taxes | |||||||||||||||||||
| xiv. | Duplicate Amortization Schedule for TL | ₹ 500/- per instance per set plus applicable taxes | |||||||||||||||||||
| xv. | ROC filing charges | As per Actuals | |||||||||||||||||||
| xvi. | Rate Regime change charges [from Floating rate type to Fixed rate type or vice versa] [For DLOD & TL] | 0.50% of Principal Loan Amount subject to minimum of ₹ 5000/- per instance plus applicable taxes | |||||||||||||||||||
| xvii. | Charges for subsequent set of Photocopy of loan agreement/ documents where requested by Borrower | ₹ 1000/- per instance per set plus applicable taxes | |||||||||||||||||||
| xviii. | Replacement of Property / Asset / Collateral | ₹4000 plus taxes as applicable, additionally legal and technical charges and expense for release of mortgage on the last property and creation of mortgage on the new property to be borne by customer, Credit concurrence must be obtained. | |||||||||||||||||||
| xix. | Cheque Book | free [100 leaves / quarter] | |||||||||||||||||||
| xx. | Additional Cheque Book | ₹ 100 plus applicable taxes for 100 leaf cheque book | |||||||||||||||||||
| xxi. | Cash Withdrawal limit at branch [ number of transactions / month] | ₹ 150 plus applicable taxes | |||||||||||||||||||
| xxii. | Cash Withdrawal limit at branch [ Amount / month] | Unlimited | |||||||||||||||||||
| xxiii. | Charges beyond withdrawal limit [ number of transactions / month] | ₹ 15 / transaction [plus applicable taxes] | |||||||||||||||||||
| xxiv. | Branch Cash deposit limit in a month | 60% [plus applicable taxes] of the overdraft limit approved | |||||||||||||||||||
| xxv. | Cash deposit at branch - Charges beyond free limit | ₹2 /1000 [plus applicable taxes] | |||||||||||||||||||
| xxvi. | DD [PO] issuance | ₹100 [plus applicable taxes] | |||||||||||||||||||
| xvii. | Duplicate DD [PO] issuance | ₹100 [plus applicable taxes] | |||||||||||||||||||
| xviii. | Cancellation of DD [PO] | ₹75 [plus applicable taxes] | |||||||||||||||||||
| xxix. | Duplicate account statement | ₹100 [plus applicable taxes] | |||||||||||||||||||
| xxx. | Stop payment instructions per cheque | ₹100 [plus applicable taxes] | |||||||||||||||||||
| xxxi. | Documentation Handling Charges [CERSAI, Cibil report, Courier Charges etc.] | ₹500 plus taxes as applicable for individual customers ₹1000 plus taxes as applicable for non-individual customers |
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| xxxii. | Swap Charges [Cheque/Instrument/Bank] | ₹ 500/ plus applicable taxes- per occasion of swapping of the PDCs/ECS mandate/NACH/ Standing instruction mandate | |||||||||||||||||||
| xxxiii. | Foreclosure [FC] Statement Charges for DLOD & Term Loan | ₹ 500 plus applicable taxes per instances | |||||||||||||||||||
| xxxiv. | DD Cancellation and Reprinting Charges at the time of disbursement | 0.25% of the DD amount or ₹1000 whichever is lower plus applicable taxes | |||||||||||||||||||
| xxxv. | Change in Instalment date | ₹ 500 plus applicable taxes. [Difference period interest [if any]to be paid upfront or to be adjusted in subsequent EMI] | |||||||||||||||||||
| xxxvi. | Stamp Charges | As per actuals | |||||||||||||||||||
| xxxvii. | Photo Copy of Property papers | ₹ 500 plus applicable taxes |
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| xxxviii. | Property Paper Retrieval for Verification/Inspection/For Lease Deed from Development Authority/Nagar Palika* |
₹ 2000 plus applicable taxes. |
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| xxxix. | Duplicate copy of List of Documents [LOD] | ₹ 500 plus applicable taxes. |
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Apply to Utkarsh Smart Business
Loan calculator
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Interest Rate 8.00% |
Interest Earned 3,50,452 |
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Maturity Value 13,50,452 |
Maturity Date 20 Apr 2023 |
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(Indicative interest rates for calculation only. click here for latest rates.) |
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FAQs
You can apply for a loan starting from 10 Lakhs to 1 Crore
The Overdraft facility is sanctioned for 1 year, which can be renewed annually, subject to submission of required documents and satisfactory account conduct. The Minimum and Maximum tenure for DLOD is 36 Months & 120 Months respectively.
Working capital funding in the form of Overdraft and Dropline Overdraft is offered under Utkarsh Smart Business.
Proprietorship, Partnership Firms including LLPs, Limited companies [Pvt. Ltd/Public Ltd.], Self Employed Professional & Trust [Hospitals & Educational Trusts].
You can either visit your nearest Utkarsh Small Finance Bank's branch or write to us at communications@utkarsh.bank, let us know about your requirement and we will get in touch with you.
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