SME Loan against Property By Federal Bank

Are you an Entrepreneur looking for business growth? Lack for finance should not block off your path.
We offer Loan Against Property for your business needs.

 

 

Key features

 

  • Quick loan approval
  • Longer repayment period up to 120 months
  • Flexible repayment options
  • No stipulation of financial parameters
  • Low processing fee of 0.50%

Facilities offered:

 

Term Loan:

 

For purchase of fixed assets, machinery, equipment etc and construction of office building/factory, go-down, furnishing, interior decoration etc.

Working Capital or Non-funded limits:

 

For procurement of stock, financing against receivables, meeting advertisement expenses,

Demand Loan:

 

For meeting general administrative expenses.

Period of the loan:

 

  • Running Overdraft / Demand Loan: 30 Months
  • For Term loan: 120 Months
  • Non Funded Limits : 30 Months

Security

 

  • EM of immovable property with 25% margin

 

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)
  • Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)
  • Income Tax/Sales tax returns of proprietor/partners/firms/companies, wherever applicable.
  • Audited/Unaudited financial statements as applicable for the past two years, in case of existing units.
  • Projected financial statements
  • Copy of license/NOC from local body or license from the competent authority for running the business.
  • Other documents may be requested as per individual requirements.

Repayment options

Repayment of the loan is made as EMI /Graded or Equal Monthly Instalments with interest repayment as and when applied.

 

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.

 

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon