Business Loan
NavabharathaSouharda introduces a scheme for entrepreneurs of today which takes care of their financial requirements allowing them to concentrate on their business growth. With lot of incentives/discount being offered and minimum processing charges which are enumerated below,you may contact our nearest branch and apply.
Amount :
- Micro Enterprises: Finance provided up to Rs. 50 Thousands.
- Small Scale Enterprises:Finance provided between Rs. 50 Thousands to 1 Lakh.
- Medium Enterprises: Finance provided between Rs. 1 lakh to Rs. 2 lakh.
Margin :
- Micro Enterprises: Nil.
- Small Scale Enterprises: 20%-25% lower than the Bank’s norm.
- Medium Enterprises: 20%-25% lower than the Bank’s norm.
Rate Of Interest :
- Micro Enterprises: 18% p.a.
- Small Scale Enterprises: 5% p.a.
- Medium Enterprises: 8% p.a.
Repayment :
- Micro Enterprises: 5 Years.
- Small Scale Enterprises: 2 Years.
- Medium Enterprises: 2.5 Years.
Security :
- Micro Enterprises: Guarantee of Spouse or a Family member wherever required.
- Small Scale Enterprises: Hypothecation + 2 Guarantors + Collateral Security (25%).
- Medium Enterprises: Hypothecation + 2 Guarantors + Collateral Security (30%).
Processing Charges & Service Tax: 3% Processing Fees and Other Charges If any (Exclusive) PLUS Service Tax as applicable.