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Bank Guarantee

Bank Name FD Margin Commission Mini Collateral Chances of Loan Approval
15.00 1.00%-2.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
15.00% 1.00%-2.00%
15.00% 1.00%-2.00%
15.00% 1.00%-2.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
15.00% 1.00%-2.00%
15.00% 1.00%-2.00%
20.00% 2.00%-3.00%
15.00% 1.00%-2.00%
15.00% 1.00%-2.00%
15.00% 1.00%-2.00%
15.00% 1.00%-2.00%
20.00% 2.00%-3.00%
15.00% 1.00%-2.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
20.00% 2.00%-3.00%
15.00% 1.00%-2.00%
20.00% 2.00%-3.00%
15.00% 1.00%-2.00%
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Eligibility Criteria

What you mean by Bank Guarantee Eligibility Criteria?

Bank guarantees are made by bank giving the commitment of liabilities of debtor will be provided in case he or she failed to make payments. Bank guarantees process take place to promote domestic & international trade. Not everyone able to apply, there is a specific eligibility you need to look forward.

Bank Guarantee Eligibility Criteria

Bank Guarantee Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.

Eligibility Criteria for Self-Employed

  • • Age Limit of Self –Employed Individuals - 24 to 65
  • • WMust have good financial record
  • • Minimum Years of Business continuity –2- 5 Years

Documents Required

INDIVIDUAL
  1. ALL DIRECTORS PHOTOGRAPH

  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS

  3. ADDRESS PROOF – COMPANY AND DIRECTORS

  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE

  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)

  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE

  7. 1 YEAR GST RETURNS

  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS

  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE

  10. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED

  11. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH

PROP FIRM
  1. PHOTOGRAPH BOTH

  2. PAN CARD CLEAR COPY PROPRIETOR

  3. ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR

  4. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)

  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY

  6. LAST 1 YEAR GST RETURN COPY

  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT

  8. REPORT, ALL SCHEDULED & ANNEXURE

  9. PROVISIONAL FINANCIAL AY 2019-20

  10. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED) BANK ACCOUNTS) 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)

  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED

  12. AGREEMENT TO SELL COPY

  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP

PARTNERSHIP FIRM
  1. PHOTOGRAPH PARTNERS

  2. PAN CARD - COMPANY, ALL PARTNERS

  3. ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD ,ADHAAR)

  4. FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL

  5. PARTNERSHIP DEED COPY

  6. GST CERTIFICATE

  7. GST RETURN LAST 1 YEARS

  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED

  9. PROVISIONAL FINANCIAL AY 2019-20

  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION

  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED

  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH

  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED

  14. AGREEMENT TO SELL COPY

  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP

PVT.LTD
  1. ALL DIRECTORS PHOTOGRAPH

  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS

  3. ADDRESS PROOF – COMPANY AND DIRECTORS

  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE

  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)

  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.

  7. 1 YEAR GST RETURNS

  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS

  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE

  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR

  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED

  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH

  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED

  14. AGREEMENT TO SELL COPY

  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

FAQs

Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.

What is the eligibility criteria for Bank Guarantee?

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Applicant applying for BG facility must have existing 3 years of business continuity with latest year with profitability & should have good credit history.

How Bank Guarantee works in India?

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Not only for business even individuals can avail this type of facility for lowering risk if opposite party fails to make payment then banks will pay you to cover up the sum amount.

How Bank Guarantee is different from Letter of Credit?

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Bank Guarantee are usually used for infrastructure & contract projects wherein Letter of Credit preferred for international trading.

How to get Bank Guarantee from SBI?

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You can easily get this type of facility offered by SBI State Bank of India at competitive Interest Rates with minimal documentation.

What are the document required for Bank Guarantee?

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Copy of BG obtained by the beneficiary, reason to avail Bank Guarantee & other details of Collateral/Assets that will be pledged.

How to calculate Bank Guarantee limit?

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It's simple to calculate BG limit, just by dividing the annual utilization of raw material procuring upon Bank Guarantee to be divided by 12 & finally multiplied by total time. Hence, you can able to calculate the limit.

What is Bank Guarantee?

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This facility is generally offered by banks & financial institution, Bank Guarantee acts as a promise to cover sum amount & gives the surety of amount to be paid in case debtor fails to pay.

What are the types of Bank Guarantee?

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There are 6 major types of Guarantee as given below:- 

  • Foreign Bank guarantee 
  • Advance payment guarantee
  • Earnest money deposit guarantee 
  • Deferred payment guarantee 
  • Performance guarantee 
  • Financial guarantee

Related Topics
  • BANK GUARANTEE BLOGS

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