| Q. |
For whom is the Term Loan product useful? |
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The target segment includes manufacturers, retail / wholesale
traders and service providers. |
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| Q. |
Which entities are eligible for Term Loans? |
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Self Employed individuals and professionals |
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Sole Proprietors / Proprietorship firms |
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Partnership Firms |
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Pvt. Ltd. Companies (including closely held limited companies) |
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Listed public limited companies with promoter holding greater
than or equal to 51% holding are within target segment |
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| Q. |
What is the maximum tenor of the term loan? |
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Depending on the purpose of the term loan, the tenor varies
between 5-15 years. It can be lower than this depending on the
cash flows of the customer. Specific details would be provided
by the sales officer. |
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| Q. |
What are different types of term loans offered? |
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The different types of Term loans offered to the target segment
are |
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Loan for acquisition of property |
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Business expansion |
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Purchase of fixed assets |
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Construction of factory premises, warehouses and branches etc |
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|
| Q. |
What is the minimum and maximum turnover range to be eligible
under Term Loan? |
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The turnover requirement ranges from INR 1 crore to INR 110
crores. |
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|
| Q. |
What is the minimum and maximum loan amount offered under
Term Loan? |
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The minimum amount is INR 30 lakhs and maximum amount is INR 22
crores subject to conditions that will be explained by the sales
officer. |
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|
| Q. |
What is the minimum amount of security that needs to be given
as collateral? |
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The collateral required depends and varies from case to case. |
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| Q. |
What are the minimum documents I need to submit for sanction? |
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Audited financials of previous three years |
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Bank statements of last six months |
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Net-worth statements and tax returns of the borrowers /
promoters and guarantors |
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Identity and Address Proof |
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Proof of underlying invoice on the purchase of assets |
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Specific details would be provided by the sales officer. |
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|
| Q. |
What is the rate of Interest that would be charged on Term
Loan? |
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The rate of interest charged would vary from case to case based
on the strength of financials, facilities offered, tenor etc.
Specific details would be provided by the sales officer. |
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To schedule an appointment with our sales officer,
click here |
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Note: The FAQs have been prepared for general information only
and are subject to change. The ultimate aim of the FAQs is to
extend the availability of the information about the product in
simple and readable manner and should not be construed as a
comprehensive feature of the product. |
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