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
KYC
Application form
Original Property Papers
Documents as per product norms
| Utkarsh Smart Business | ||
| Charge Name | Charges | |
|---|---|---|
| Processing Fee | Upto 1% of Sanctioned Limit / Loan Amount + Applicable taxes | |
| Pre Closure Charges [Applicable to DLOD & Term Loan] | Pre-Closed by | Pre Closure Charges |
| Upto 6 Months | 6% of outstanding Principal portion of the loan and applicable taxes | |
| During 07 to 24 months | 4% of outstanding loan/Facility Amount and applicable taxes | |
| During 25 months to 36 months | 3% of outstanding loan/Facility Amount and applicable taxes | |
| More than 36 months | 2% of outstanding loan and applicable taxes | |
| Pre Closure Charges [Applicable to Overdraft] | 2% of the facility amount and applicable taxes | |
| Cheque Deposited and Returned [outward] charges | 200 Per Cheque | |
| Cheque Return [Inward] charges | 300 Per Cheque | |
| Penal Interest | 24% Per Annum | |
| Legal/Valuation Charges | As per actuals | |
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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 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 [email protected], let us know about your requirement and we will get in touch with you.
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