Loan to Mobile/ DTH/ Other Electronic Recharge Vendors By Federal Bank

Hassle-free working capital finance to recharge vendors. Boost your business with Loan to mobile/DTH/other electronic recharge vendors.

 

Features & Benefis

 

Key features

 

  • Quick loan approval
  • Minimal paperwork
  • Low processing fee of 0.25%

 

Facilities offered:

 

  • Overdraft or Demand Loan

 

Eligible Limit:

 

Up to 300% of average daily advance paid to telecom company/DTH service provider/wholesaler during the previous one quarter. 

 

Margin:

 

  • 25%

 

Period:

 

  • OD/Demand Loan : 24 month

 

Documents Required

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
  • Bank Statement (latest 6 months bank)
  • Last 2 Years ITRs (computation of income), audited Balance Sheet and Profit & Loss a/c, if applicable
  • Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
  • Other documents may be requested as per individual requirements.

Repayment options

Repayment of the loan is made as Equated Monthly/Weekly Instalments

 

You can use any one of the ways to repay the loan:

 

  • Cheques
  • Standing instructions at your branch
  • FedNet - Internet Banking
  • ECS
  • Mobile Banking

Rates and Fees

  • Please visit the Interest Rates page for details

About

Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India.

The history of Federal Bank dates back to the pre-independence era. Though initially it was known as the Travancore Federal Bank, it gradually transformed into a full-fledged bank under the able leadership of its Founder, Mr. K P Hormis. The name Federal Bank Limited was officially announced in the year 1947 with its headquarters nestled on the banks of the river Periyar. Since then there has been no looking back and the bank has become one of the strongest and most stable banks in the country.

 

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