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For MSMEs with turnover up to ₹100Cr
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- Small Business Banking
- Working capital loans
- Secured DOD Banking Surrogate
Secured DOD – Banking Surrogate
Features & Benefits
- Loan amount ranging from ₹10.01 Lakhs up to ₹500 Lakhs
- The limit is based on banking conduct
- Maximum tenure - 10 years
Commercials
| Loan Processing Charges | Up to 1.25% + applicable taxes |
|---|---|
| Part Pre-payment Charges | NA |
| Foreclosure Charges | 2.00% of sanction limit |
| Penal Interest | 1.00% p.a. additional on existing rate of interest |
| Repayment Instructions/Instrument Return Charges | ₹500/- per instance + applicable charges |
Eligibility
Business vintage
- Minimum 4 years in current profession
Business Income
- Should not be loss-making in the last 1 year
Age
- Minimum 21 years at the time of loan application
- Maximum 70 years at the end of the loan tenure
Residential/Office Stability
- Borrower should own either an office or a residential property
- Residence stability should be of at least 12 months
- Office stability should be at least 24 months
Documentation
- KYC
- Duly filled in application form signed by the customer
- Relevant financial documents
- Bank account statement from the last 6 months
- PAN Card/Form 60
- Business Proof
- Last 12 months’ GST returns
- Property documents
Frequently Asked Questions
Secured DOD facility is designed for self-employed segments like individuals, proprietorship firms, partnership firms, LLP, pvt. Ltd. Companies and unlisted public companies.
We offer competitive interest rates for our facilities. The interest for each loan is determined based on assessment of your business profile, past track records, financial records, loan amount required and tenure of loan.
Interest is charged on the amount utilized and not on the entire sanctioned limit.
For secured DOD we accept Residential property, Commercial property and Industrial property.
