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Bank Guarantee @ 1.00 per annum commission Onwards

An assurance to a beneficiary that the bank will uphold a contract if the applicant and counterparty to the contract are unable to do so. A guarantee means giving something as security. A bank guarantee is when a bank offers surety and guarantees for different business obligation on behalf of their customers within certain regulations.It is generally a promise made by the bank to any third person to undertake the payment risk on behalf of its customers.
Enquiry Form
Bank Guarantee: Process of Bank Guarantee @ 1.00 and Financeseva
Bank Name FD Margin Commission
YES Bank Ltd.
15.00%
1.00%-2.00%
United Bank of India
20.00%
2.00%-3.00%
Union Bank of India
20.00%
2.00%-3.00%
UCO Bank
20.00%
2.00%-3.00%
State Bank of India
20.00%
2.00%-3.00%
Digibank (DBS)
15.00%
1.00%-2.00%
South Indian Bank Ltd.
15.00%
1.00%-2.00%
RBL Bank Ltd.
15.00%
1.00%-2.00%
Punjab National Bank
20.00%
2.00%-3.00%
Punjab & Sind Bank
20.00%
2.00%-3.00%
Kotak Mahindra Bank
15.00%
1.00%-2.00%
IndusInd Bank
15.00%
1.00%-2.00%
Indian Bank
20.00%
2.00%-3.00%
IDFC First Bank
15.00%
1.00%-2.00%
ICICI Bank Ltd.
15.00%
1.00%-2.00%
HDFC Bank Ltd
15.00%
1.00%-2.00%
Federal Bank Ltd.
15.00%
1.00%-2.00%
20.00%
2.00%-3.00%
City Union Bank Ltd.
15.00%
1.00%-2.00%
Central Bank of India
20.00%
2.00%-3.00%
Canara Bank
20.00%
2.00%-3.00%
Bank of Maharashtra
20.00%
2.00%-3.00%
Bank of India
20.00%
2.00%-3.00%
Bandhan Bank Ltd.
15.00%
1.00%-2.00%
Bank of Baroda
20.00%
2.00%-3.00%
Axis Bank Ltd.
15.00%
1.00%-2.00%
Bank Name Min Interest Rate
YES Bank Ltd.
FD Margin

15.00%%

United Bank of India
FD Margin

20.00%%

Union Bank of India
FD Margin

20.00%%

UCO Bank
FD Margin

20.00%%

State Bank of India
FD Margin

20.00%%

Digibank (DBS)
FD Margin

15.00%%

South Indian Bank Ltd.
FD Margin

15.00%%

RBL Bank Ltd.
FD Margin

15.00%%

Punjab National Bank
FD Margin

20.00%%

Punjab & Sind Bank
FD Margin

20.00%%

Kotak Mahindra Bank
FD Margin

15.00%%

IndusInd Bank
FD Margin

15.00%%

Indian Bank
FD Margin

20.00%%

IDFC First Bank
FD Margin

15.00%%

ICICI Bank Ltd.
FD Margin

15.00%%

HDFC Bank Ltd
FD Margin

15.00%%

Federal Bank Ltd.
FD Margin

15.00%%

FD Margin

20.00%%

City Union Bank Ltd.
FD Margin

15.00%%

Central Bank of India
FD Margin

20.00%%

Canara Bank
FD Margin

20.00%%

Bank of Maharashtra
FD Margin

20.00%%

Bank of India
FD Margin

20.00%%

Bandhan Bank Ltd.
FD Margin

15.00%%

Bank of Baroda
FD Margin

20.00%%

Axis Bank Ltd.
FD Margin

15.00%%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

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
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD 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 REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 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
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD 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
  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
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

What is a Bank Guarantee?

A bank guarantee is a type of guarantee from a lending institution. The bank guarantee means a lending institution ensures that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. A bank guarantee enables the customer, or debtor, to acquire goods, buy equipment or draw down a loan.

Examples of Bank Guarantees

Because of the general nature of a bank guarantee there are many kinds. Here are some common examples:

  • A payment guarantee assures a seller the purchase price is paid on a set date.
  • An advance payment guarantee acts as collateral for reimbursing advance payment from the buyer if the seller does not supply the specified goods per the contract.
  • A credit security bond serves as collateral for repaying a loan.
  • A rental guarantee serves as collateral for rental agreement payments 

Types of Bank Guarantee

  • Performance Guarantee
  • Bid Bond Guarantee
  • Financial Guarantee
  • Advance Payment Guarantee
  • Foreign Bank Guarantee
  • Deferred Payment Guarantee

What is a Bank Guarantee (BG), why not any other bank instruments?

Bank Guarantee is a financial instrument promising to pay the beneficiary the amount mentioned
therein upon maturity of the instrument. It is taken as collateral security or margin money for the finance assistance granted.
BG is a widely used and traded instrument in the international market.Thus easy for arranging line of credit or arranging fund for Finance assistance. Moreover the arranger (borrower) earns interest on the fund deposited with the Bank for the purpose of arranging BG.

 

How to get a BG – do we need to deposit equivalent amount of money or how else?

If we have to deposit equivalent amount in the bank for getting a BG, then why not directly put that fund in the project itself?
BGs can be arranged either fund based or non-fund based. In fund based BG, you may have to deposit the equivalent amount of money into the bank, with issuing BG. In this case you are entitled to earn interest on the money blocked as deposit.
In non-fund based BG you may have to pledge your movable/ non-movable assets like shares,bonds, securities, properties etc. to get the BG. 

What is a Clean BG?


Clean BG means non-conditional and without any reference to a performance or non-performance of any act or tour de force. 

What do you mean by the words ASSIGNABLE and TRANSFERABLE in the BG

BG should be assignable and transferable means that this instrument should be worth negotiable for creating a line of credit.

What is the difference between an OPERATIVE BG and NON OPERATIVE BG?

Non-operative BG is just a pre-advice of BG to be issued as Operative BG. It is a replica (copy) of what is going to be issued. Non Operative BG is issued for the purpose of verification and clarification. Operative BG is the original and negotiable instrument.

 

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