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- Business Loan basis GST Returns
Business Loan basis GST Returns
Your GST return can now get you a Business Loan. Under GST program, loans are offered based on the GST returns to MSME customers both self-employed professionals and non-professional business owners (retailers and service providers). Business owners can now leverage their GST returns to avail high value GST loans for quick business funding.
Feature & Benefits
- Loan amount can be availed from minimum ₹3 lakhs up to ₹20 lakhs
- No hypothecation required, and is collateral-free
- Tenure up to 36 months
- Hassle-free process
Commercials
| Loan processing charges | Up to 2% + applicable taxes |
|---|---|
| Part pre-payment charges | 2% + GST on amount prepaid |
| Foreclosure charges |
|
| Penal interest | 2.00% p.a. on the amount on overdue installments |
| Repayment Instruction / Instrument Return Charges | ₹399 per instance + applicable taxes |
Eligibility & Documentation
Eligibility for Business Loan basis GST Returns
Business vintage
- Minimum 3 years
Age
- Minimum 21 years at the time of loan application
- Maximum 65 years at the end of loan tenure
Minimum income for loan amount
- ₹3 lakhs for both years
Residence/office stability
- Either office or residential property must be owned.
Documentation for Business Loan basis GST Returns
- KYC
- Latest 2 year's balance sheet
- Latest 2 year's profit & loss statement
- Latest 2 year's of ITR filed
- Latest 6 month's banking statement
Frequently Asked Questions
Maximum tenure offered for GST-based loans is 36 months.
We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of the loan.
We offer GST-based loans to professionals and business owners including doctors, CA, CS, ICWA, engineers, ICWA, traders, manufacturers, retailers and service providers.
Repayment shall be monthly, including principal and interest. You can repay a business loan and its EMI through the following channels:
- At the branch
- ECS
- Net banking
The loan is completely collateral-free, provided, it is based on assessment of your business profile, past track record and GST returns.
