FAQs

Who can avail of SME Secured Loans ?
  • Self-employed doctors in the age group of 24 to 65 years (at the end of the loan tenure).
  • Partnership Firms & Private Ltd. Companies.
How much finance can I avail of ?

You can borrow up to 80% of your planned investment in plant and machinery, based upon your loan eligibility.

What are the tenure options?

Business loans range from a minimum of 6 months up to a maximum of 4 years.

How long will it take to process the loan?

Loans are processed within 4-5 working days of completing the documentation.

Do I need a guarantor?
  • For sole applicant - one adult family member to be co-applicant.
  • Partners /Promoter Directors will be taken as co-applicant in case of Partnership/Pvt ltd co. respectivel.
Do I have the option of pre-paying the entire loan amount?

Yes. One can pre-pay the loan at any time after 6 months of availing of the loan. Foreclosure charges would be applicable.

How do I repay the loan ?

You can make part pre-payments of a minimum amount of Rs 50,000 after 6 months from the date of first disbursement of the loan. This payment can be made only once in a financial year subject to a maximum of 25% of the balance outstanding against your loan amount at the start of the financial year.

How do I repay the loan ?
  • Electronic Clearing System (ECS) OR
  • Post dated cheques (PDCs)
What are the stages involved in availing a loan?

The stages involved are:

  • Application
  • Processing
  • Documentation
  • Sanctioning of the loan
  • Disbursement