Business Banking Solutions By Kotak Mahindra Bank
Features & Benefits of Kotak Mahindra Bank
- Entire trade & financial requirements of small & medium businesses through comprehensive product offerings.
- Our individual exposure ranges from Rs. 50 lakhs to Rs. 30 crores
- Customized Solutions & Advisory Services: We review business requirements based on overall performance and their expansion plans. The relationship managers and the credit team would focus on understanding the business model and related industry dynamics with the customer. Effort is made to understand how the business has grown and what plans the promoters have. The strength of the team is in understanding the needs of the customer and customizing a solution for him. We also add value to the relationship by offering advisory services and financial restructuring solutions to our customers.
- Relationship Banking: Our dedicated team of Relationship Managers (RMs) located across the country act as a One Point Contact for our clients. Our RMs maintain a continuous interaction with their clients to understand their immediate and future financial needs.
Documents Required for Kotak Mahindra Bank
- Audited financial of the company and the group companies along with schedules for the last three years
- Provisional financials along with schedules (In case audited are not ready)
- Income Tax return of Director and entity for the last 3 years
- Bank statements for the last 6 months
- Copy of Sanction letter in case customer already has limits with other banks
- Partnership deed/MOA/Trust deed
- PAN of Company & Directors
- In case of Term Loan, detailed project report
- In case of rent discounting, agreement copy of the properties
- Last 6 month data of sales, purchase, debtors, creditors & inventory
Products Offered By Kotak Mahindra Bank
Long Term Financial Needs
Cash Credit / Overdraft
Letter of Credit
Working Capital Term Loan
Loan Against Property Lease Rent Discounting
Kotak Mahindra is one of India's leading banking and financial services group, offering a wide range of financial services that encompass every sphere of life.
Kotak Mahindra Bank Ltd is a one stop shop for all banking needs. The bank offers personal finance solutions of every kind from savings accounts to credit cards, distribution of mutual funds to life insurance products. Kotak Mahindra Bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans. Kotak has one of the largest and most respected Wealth Management teams in India, providing the widest range of solutions to high net worth individuals, entrepreneurs, business families and employed professionals.
Get totally unsecured loan of 20 times of your net profit with the help of our team of Chartered Accountants.
Only requirement: 3 years ITR and turnover of 1 cr+. No collateral required.
Repayment Period: 1-5 years
Interested? Call us at +91-9911050333 or fill the form on the right
What is Business Loan?
Business loans, as the name suggests, are specifically intended for business purposes. Be it a startup or an established business, business loans offer a financial solution to problems faced by the firm and fills the cash flow gap. Be it for meeting day-to-day expenses, expansion of infrastructure or even product development, business loans play a huge role in setting the financial foundation strong for a business.
Characteristic of Business Loan
- Businesses with bad credit can also apply but will have to provide proof that repayments can be done without delay.
- Application fees are either non-applicable or minimal
- The payment schedules are extendable with a nominal extra interest rate being applied
- Extended lines of credit made available
Eligibility Criteria for Business Loan
- Minimum 25 years of age and maximum 65
- The business should have been in profit for atleast 3 years
- A minimum turnover of 40 Lakhs for proprietorship, partnership firm and Pvt Ltd companies.
- Income Tax return should be a minimum of 3 Lakhs
- Net worth should be positive.
Who all can avail business loans?
- Self Employed Individuals/Professionals
- Sole Proprietorship Firms
- Partnership Firms
- Private Limited Companies
What documents are needed when applying for a business loan?
- Identity Proof
- Address Proof
- Bank Statement for past 6 months
- 3 years Income Tax Return with Balance Sheet, P&L and Audit Report
What are the tenure options available?
A minimum of 1 year to a maximum of 5 years.
Can I make part-prepayment?
Yes. Part pre-payment can be done with a minimum amount of Rs.50,000/- after 6 months from the date of disbursement of the loan. This can be made only once in a financial year.
Can I pre-pay my whole loan?
Yes. That is also possible, but after repaying a minimum of 6 EMIs. Pre-payment of loans will be charged as per the bank’s discretion.
How can I repay the loan?
The loan can be repaid through post-dated cheques or Electronic Clearing System.