HDFC Bank Business Loans

HDFC Bank Limited is an Indian financial services company based in Mumbai, Maharashtra that was incorporated in August 1994 and currently has nationwide network of 3,488 Branches. HDFC Bank is the fifth largest bank in India by assets and the largest bank by market capitalization as of 1 November 2012.

HDFC Business Loans Features

•    Designed to help businessmen involved in manufacturing, trading and the service industry.
•    Loan amount up to Rs15 lakhs and this amount can be up to Rs 30 lakhs in some selected locations.
•    Simple documentation
•    No collateral /guarantor /security required.
•    Rack interest rate range 17.5% to 22%.

HDFC Business Loan Eligibility

•    Age Factor: Minimum age of the loan applicant should be 21 years. Maximum age of applicant at loan maturity: 65 years
•    Years in business: Minimum 4 years (at least 2 years in the same Business).
•    Minimum Annual Income of the loan applicant: Rs.100000/- p.a. for Metro Locations & Rs.75,000/- p.a. for non-metro locations

HDFC Documentation

•    Identity Proof – Passport/Driving Licence/Voters ID/PAN Card
•    Address Proof – Passport/Leave and Licence Agreement/Utility Bills (last 3 months)
•    Date of birth Proof
•    Bank Statements for the Last 6 months
•    Other required documents may vary among applicants and are subjected to Bank’s consideration.

ICICI Bank Business Loans

ICICI Bank Limited is a multinational financial services company headquartered in Mumbai, India. It is the second largest bank in India by assets and third largest by market capitalisation. ICICI Bank Business Loans Features (ICICI Bank Secured Business Loans).

ICICI Bank Business Loans Features (ICICI Bank Secured Business Loans)

•    Cash credit /Overdraft for meeting working capital finance requirement.
•    Export credit to provide pre-shipment and post shipment finance.
•    Letter of credit to facilitate trade.
•    Bank guarantees for meeting performance and financial obligations.
•    Term loans for purchase of commercial assets and business expansion needs.
•    Loan amount- up to Rs 50.0 million for working capital and capital expenditure needs.
•    Interest rate is linked to ICICI Bank’s base rate for fund based facility.
•    Low collateral requirement and lending available upto 3 times of the value of collateral.

ICICI Business Loan Eligibility

•    Age Factor: 23 years – 58 years for salaried employees, 25 years for doctors, 28 years for self-employed individuals. Maximum age – 65 years
•    Years in business: In current business for at least 2 years for salaried employees and at least 5 years for self-employed and minimum 3 years for doctors
•    Net Income: Minimum monthly income for Salaried individuals Rs.17,500 (Rs.25,000 for applicants residing in Mumbai & Delhi; Rs.20,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata)

ICICI Documentation

•    Identity Proof – Passport/Driving Licence/Voters ID/PAN Card
•    Address Proof – Passport/Leave and Licence Agreement/Utility Bills (last 3 months)
•    Latest 6 months Bank statement for self-employed individuals and latest 3 months Bank statements for salaried employees
•    2 passport size photographs
•    Office address proof for self-employed individuals
•    Proof of residence or office ownership for self-employed individuals
•    Proof of continuity of business for self-employed individuals

HSBC Bank Business Loans

HSBC’s origins in India date back to 1853, when the Mercantile Bank of India was established in Mumbai. The Bank has since, steadily grown in reach and service offerings, keeping pace with the evolving banking and financial needs of its customers. The Bank offers a comprehensive suite of world-class products and services to its corporate and commercial banking clients as also to a fast growing personal banking customer base.

HSBC Business Loans features

•    Can choose from a range of finance options like export/import financing, discounting of export receivables, bank guarantees for business requirements, treasury line to manage cross currency transaction risk.
•    Maximum loan amount upto Rs 10 crores
•    Letter of credit to facilitate trade.
•    MSE( Micro and Small Enterprise) can avail loans upto Rs 10 lakhs without collaterals.
•    Flexible quantum and tenor of loans.
•    Interest rate is calculated on the prevailing base rate at the time of processing.

HSBC Business Loan Eligibility

•    Age Factor: Minimum age of the guarantor to be 21 years. Maximum age of the guarantor to be 65 years at the time of the loan maturity
•    Business Loans are provided on 3 categories for HSBC Bank listed below and the criteria varies for each category
•    Sole Proprietorships
•    Partnerships
•    Private Limited Companies

Partnership

•    Identity Proof of the Partnership Firm (any one of the following):
•    Passport OR Voter’s identity card OR Photo PAN card OR Driving license OR MAPIN card
•    Identity Proof to be submitted for the all Partners (any one of the following):
•    Passport OR Voter’s identity card OR Photo PAN card OR Driving license OR MAPIN card
•    Address proof to be submitted for all partners (any one of the following):
•    Passport OR Voter’s identity card OR Driving license OR Ration card OR Society outgoing bill OR Life Insurance Policy OR Electricity bill OR Telephone bill (land / mobile)
•    Partnership Deed
•    PAN ID / PAN allotment letter / Form 60 of the concern
•    Financial documents (all of the following):
•    P & L and balance sheet for the last 2 years certified by a C. A. AND Copies of acknowledged IT returns for the last 2 years AND Letter of authority AND Bank statements for the last 6 months

Private Limited Company

•    Proof of identity of the Limited Company (any one of the following):
•    Sales tax / VAT /Service tax / Excise registration OR Registration under Shops and Establishment Act OR PAN ID / IT return of the concern OR
•    Water / Electricity / Municipal tax bill in the name of the concern OR MAPIN card in the name of the concern

Memorandum and Articles of Association

•    Board resolution
•    Proof of individual identity to be submitted for the authorised signatories and 2 Directors (including the managing director) (any one of the following):
•    Passport OR Voter’s identity card OR Photo PAN card OR Driving license OR MAPIN card
•    List of directors
•    Copy of Form 32 filed with ROC
•    PAN card / PAN allotment letter / Form 60 of the concern

Financial documents (all of the following)

P & L and balance sheet for the last 2 years certified by a C. A. AND Copies of acknowledged IT Returns for the last 2 years AND Board resolution for borrowing and creation of mortgage AND Bank statements for the last 6 months

Financial documents (all of the following)

Fullerton India launched commercial operations in January 2007 and has since established itself firmly in the country’s financial landscape, with a network of over 398 branches across the country, serving over a million customers. Its services include financing of small and medium enterprises for working capital and growth, loans for commercial vehicles and two-wheelers, home improvement loans, loans against property, personal loans, working capital loans for urban self-employed and loans for rural livelihood advancement, rural housing finance and financing of various rural micro enterprises.

Fullerton India Business Loans Features

•    Maximum Loan up to 30lacs without any collateral for self-employed businessman involved in Manufacturing, Trade and service.
•    Repayment period 12 to 48 months.
•    Pre-payment facility.

Fullerton India Business Loan Eligibility

•    Age Factor: At least 27 years of age to apply for a Business Loan under the ‘Self Employed Business Category’. You cannot exceed 65 years of age at the time of Loan Maturity.
•    Years of Business: A relaxation of 2 years will be made if you are a non-professional.

Fullerton India Business Loan Documentation

•    Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
•    Address Proof (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
•    Bank Statements (Bank statement / Bank Passbook of last 6 months)
•    Latest Income Tax Returns along with computation of Income, Balance Sheet and Profit & Loss Account of the last 2 years
•    Partnership Deed/ Board Resolution.
•    Proof of number of years in business (Trade license/ Establishment or Sales Tax Certificate/ MOA/ Partnership Deed)

Bajaj Finserv Business Loans

Bajaj Finserv is the financial services company of the Bajaj Group. Its current business lines include Protection through Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance, Lending and Wealth through Bajaj Finance Limited.

Bajaj Finserv Business Loans Features

•    Maximum loan amount up to Rs 45 lacs.
•    No collaterals or guarantors required.
•    Repayment period – 12 to 36 months.

Bajaj Finserv Business Loan Eligibility

•    Age Factor: Doctors 30 years; others 26 years.
•    Years of Business: 2years.
•    Net Income: Differs from self-employed and others.

Bajaj Finserv Business loan documentation

•    Application form
•    1 Photograph of Co-Applicant
•    Income Details: IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure, Form 16 A
•    Bank Account Statements for the last 3 months
•    KYC documents of Co-applicant
•    Business Vintage for 5 years
•    Business Proof: Certificate of Practice