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Whats New

  • RBI grants Authorised Dealer – category II for retail forex license to Apna bank
  • BSI certifies Apna Bank with the upgraded ISO 27001:2013 cerification for information Security
  • IMPS -Apna Sahakari Bank Ltd. is Live in Immediate Mobile Payment System.
  • Milestone Of Business Mix Of Rs. 5000 Cr. Plus achieved. Thanks To All Our Shareholders & Customers.
  • We are SCHEDULED Bank now. Thanks to all Shareholders, Customers & Well Wishers.
  • Mangal Murti Thev Yojana A special scheme for limited period starting from 16/08/2017
Business Loan


BUSINESS LOAN
Purpose

Financial requirement for

  • Purchase of new / old machinery /equipments
  • Purchase of business premises
  • Purchase of Furniture fixture for office/factory
  • Bill / L.C Discounting
  • Cash Credit
Who can Avail this Loan Any account holder who is a Businessman
Loan Features

Repayment Period : Maximum 12 months for Cash Credit
Maximum 84 to 120 months for Term Loan

Margin : 15% to 50%

Primary Security : a. Stock
b. Book Debts
c. Machinery / Equipments
d. Business Premises.

Collateral Security : a. L.I.C
b. N.S.C
c. Kisan Vikas Patra
d. Fixed Deposit. Recurring Dep.
e. Residential Flat

Rate of Interest

Loan upto Rs. 50 Lakhs - 14%

Loan above Rs. 50 Lakhs - 13.50%

 

Documents required
  • Duly filled Loan form
  • Current Account Statement for verification
  • Copies of Licence (Original for verification)
  • Certified audited balance sheet for last 3 years
  • Projected Balance sheet / Project Report
  • List of Machinery with value
  • Three Photograph of Borrower & Guarantors
  • Income proof for last three years of Guarantors
  • Ration card of borrower and Guarantors
  • Aadhar card of borrower and Guarantors
  • Electricity Bill of borrower and Guarantors
  • Copies of taxes paid challans
  • Copies of Sales Tax Registration certificate with latest tax paid challans.
  • Copy of rent receipt / maintenance receipt / leave and license agreement
  • (point 9 to14 bring originals for verification)
  • Registered Partnership Deed & Partnerhip Registration Receipt ( If Partnership Firm)
  • Memorandom / Articles of Association / Certificates of commencement ( For Ltd/ Pvt.Ltd company)
  • Detailed information regarding sister concern with current year certified balance sheet.
  • Statement of Annual turnover of accounts with other financial institutions.
  • Valuation report from bank’s authorised valuer for business premises / machinery.
  • Sale / Purchase / Service charges received / paid from the date of last balance sheet till last completed month.
  • Latest stock statement, sundry debtors, creditors
  • List of major clients, copy of orders in hand
  • Original document of business premises (share certificate, Agreement of sale/ registration receipt/ NOC from society or builder)
  • Company seal for Pvt Ltd. / Ltd. company
  • Resolution regarding loan requirement and persons who are authorised to sign on behalf of the company.
Charges
  • Share –Rs.1000/- each for borrower & guarantors for Loan amount up to Rs. 10 Lakhs. Rs.25000/- for loan amount above Rs.10 Lakhs
  • Service Charges 0.50%
  • Franking – Maximum Rs.500/-
  • Visit Charges – Rs.300/- to 600/-
  • Mortgage charges 0.20% of loan amount
  • Mortgage charges Rs.1000/-
Positive Points
  • No Pre-payment charges
  • Fixed rate of Interest
  • Daily reducing balance
  • Repayment in addition to fixed instalment can be made without any charges