Business Installment Loan (BIL) helps the entities take a giant strides by fulfilling their business requirements, be it working capital requirement, business expansion or to grab that once in a lifetime business opportunity.
Key Features of Term Loan :-
Loans start from Rs. 5.00 to Rs 35 lacs & group exposure upto 50
Unsecured loan - No security / No collateral required
Repay with easy equated monthly installments.
Simple documentation & Faster processing.
The tenure of the loan repayment could range from 12 to 48 months.
Interest is calculated on a monthly reducing balance basis.
Proprietorship/partnership/Private Limited company.
This loan can be used business purpose only.
Age 25-65 years of main applicant
Turnover minimum 40 lacs per annum for the last 2 years.
Minimum 3 years old company in the same business.
Minimum 1year old operation at same place.
Profitable business for the last 2 year .
Have a clean track record of at least 12 month from any MNC bank.
Applicant must own office or residence.
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Long term working capital needs .
For purchasing machinery, office Furniture & equipments etc.