Business Loan-BNL

Eligible category of borrowers

• Regular members of our bank only

Line of activity

• Persons engaged in business / professional services / Employees / others having good turnover / income.

Quantum of loan

• As mentioned in Interest chart

Repayment

• Monthly Installments + Interest

Rate of Interest

• As mentioned in Interest chart (Subject to changes / revision from time to time)

Purpose

• Business Expansion / Improvement

Security

• Simple Mortgage of the Immovable property

Shares

• As applicable

Sureties

• 2 sureties who are necessarily to be Regular members / Nominal members of the bank. Spouse should become one of the sureties.

Other charges

• As applicable.

Documents Required

• Specified loan application.
• Guarantor’s declaration form.
• Address and income proof of both borrower & sureties.
• IT Assessment orders (3 years) / Audited Financial statements.
• All original property documents.
• Valid legal opinion / valuation report on the property along with Insurance
• Required margin as the case may be
• Any other letter/document related to the activity/purpose as the case may be.
• Other terms & conditions as applicable.

For more details / clarification please contact your nearest branch.