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Business Loan

Business Loan :

Looking for a loan to grow your business?

Vikas Bank has got you covered! Whether you have a sole proprietorship, partnership, or a private ltd company, you can open a current account to handle all your business transactions. With these accounts, you can deposit or withdraw funds as often as you need. Let Vikas Bank help you take your business to the next level!.

Eligibility :                   

  • Businessmen / Professionals.     

Repayment Period :

  • Maximum 5 years Moratorium period available, depending on the cash flow.

Rate of Interest : 14.95%.

Penal Charges :

  • If there is any deviation or failure to make the scheduled repayment, a penal charge of 3.00% per annum will be charged on the overdue amount in addition to the regular interest on the remaining balance.

Processing fees : 1.30%.

Shareholding :

  • 2.5% of the loan amount as a regular shareholder.

Quantum Of Finance :

  • The amount of the loan will be determined based on the specific needs and eligibility criteria of each case.
  • Collateral security should be 150% of the loan amount.

Interest Calculation Method :

  • Reduced Balance method.

Security :

  • Equitable /  Registered Mortgage of property.

​​​​​​​Documentation :

  1. A completed application form.
  2. Photo identity & residence proof for both the applicant & guarantor.
  3. The last three year's profit & loss account, balance sheet, ITR, and bank statements for the past 12 months.
  4. Legal documents are required for creating a mortgage as per the specified requirements.
  5. A detailed project report.

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Thank you for your interest in this service. In order to assist you better, kindly provide us with your contact details.

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