Gayatri Saral Term Loan
Facility: Working Capital Loan OR Term Loan
Purpose: For Acquisition of machinery / equipment
Eligibility :
Small Scale Industry / Small Business Finance
Security:
Primary: Hypothecation of Stocks/Machines/Equipment financed
Collateral: Mortgage of Immovable property
Rate of Interest: 13.00% PA
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Loan Limit: Maximum Rs.15.00 Lacs
Guarantor: Government Employee/ I.T Assessee
Repayment:
» For Term Loan 60 Equated Monthly Installments,
» For Working Capital Loan sanctions period One (1) Year. (Wherever desirable the working capital loan repayable in EMI’s can also be recommended).
Interest method: Diminishing Method
Basic Documents:
» KYC documents of Borrowers and Guarantors.
» Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
» Title Deeds of the property offered as security
» Other Documents As required.
Processing Fees: Nil
Terms & Conditions: As per Bank’s Loan Policy.