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Project Loan @ 7.50% Onwards

If you are planning to start an industrial, infrastructure, or public services project and need funds for the same, Project Financing might be the answer that you are looking for. Project Loan is provided to corporate borrowers for the purpose of capital expenditure including setting up of new/ additional manufacturing facilities, construction etc. Project loan is also available to acquire the fixed assets like land & building, plant & machinery etc.
Enquiry Form
Simple Project loan: Report For Bank Loan / Mudra Loan Project Report
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Tenure (Month) Forclosure Charge
Bank of Baroda
7.50% - 9.00%
1 %
84
2 %
Bank of India
8.00% - 10.00%
1 %
84
2 %
Bank of Maharashtra
8.00% - 10.00%
1 %
84
2 %
Canara Bank
8.75%- 11.00%
1 %
84
2 %
Central Bank of India
7.50%-8.50%
1 %
84
2 %
Indian Bank
7.50% - 9.00%
1 %
84
2 %
Indian Overseas Bank
9.00% - 10.50%
1 %
84
2 %
9.00% - 11.00%
1 %
84
2 %
Punjab & Sind Bank
9.00% - 11.00%
1 %
84
2 %
Punjab National Bank
8.00% - 10.00%
1 %
84
2 %
State Bank of India
7.50% - 9.00%
1 %
84
2 %
Small Industries Development Bank of India (SIDBI)
8.00% - 9.00%
1 %
84
2 %
South Indian Bank Ltd.
9.00 %- 10.50%
1 %
84
2 %
UCO Bank
10.00%-12.00%
1 %
84
2 %
Union Bank of India
9.00% - 11.50%
1 %
84
2 %
United Bank of India
9.00% - 11.00%
1 %
84
2 %
Bank Name Min Interest Rate
Bank of Baroda

7.50% - 9.00%

Bank of India

8.00% - 10.00%

Bank of Maharashtra

8.00% - 10.00%

Canara Bank

8.75%- 11.00%

Central Bank of India

7.50%-8.50%

Indian Bank

7.50% - 9.00%

Indian Overseas Bank

9.00% - 10.50%

9.00% - 11.00%

Punjab & Sind Bank

9.00% - 11.00%

Punjab National Bank

8.00% - 10.00%

State Bank of India

7.50% - 9.00%

Small Industries Development Bank of India (SIDBI)

8.00% - 9.00%

South Indian Bank Ltd.

9.00 %- 10.50%

UCO Bank

10.00%-12.00%

Union Bank of India

9.00% - 11.50%

United Bank of India

9.00% - 11.00%

₹ 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 Project loan Eligibility Criteria?

Project loan is one such loan dedicatedly provided to corporate borrowers for their business & capital expenditure like setting up new project or growing up existing business project. Before applying for loan, make sure that you meet specific eligibility criteria as required like you need to prepare project report for bank loan & CMA earlier while availing project loan.

Project loan Eligibility Criteria

Project loan 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 Individuals

  • • Age Limit of Self –Employed Individuals - 21 to 65
  • • Public & private both sector companies are eligible
  • • Minimum Years of Business continuity –3 Years with profit in last audited financial year.

What are the factors generally affecting Project loan Eligibility Criteria?

There are top factors that generally affects Project loan Eligibility Criteria as given below: -

Avoid applying multiple loan & credit card: - It is one of the key factor you should consider that avoid applying for multiple loan & credit card as it will harm your credit score & reduces your eligibility level.

Past Credit History: - Do you know, your past credit history can impact your present & future loan appearing chances. Due to lack of score you fail to avail a project loan.

Newly existing business: - Usually, not every business is eligible to get loan, as lenders have some fix terms & policies, one of them was newly existing business are ineligible as they don’t know your past performance on business.

What are the ways to increase Project loan eligibility?

To increase Project loan eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Build a high credit score: - This is one of the best way to increase eligibility of project loan, because lenders generally check your credit score as much as higher the score, your chances of loan approval increases.

Include all sources of income: - Your regular source of income plays a critical role in evaluating loan application, if it seems as low then probably your chances of rejection increase but if you add all your possible income sources then it will help you to increase your eligibility.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. PROJECTED FINANCIAL
  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. PROJECTED FINANCIAL
  11. PROJECT FEASIBILITY REPORT
  12. COMPANY PROFILE & MANAGEMENT PROFILE
  13. ISO CERTIFICATE & MSME CERTIFICATE
  14. POLLUTION CERTIFICATE
  15. CMA DATA
  16. MACHINE QUOTATION
  17. BUILDING CONSTRUCTION ESTIMATE
  18. 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
  14. PROJECTED FINANCIAL
  15. PROJECT FEASIBILITY REPORT
  16. COMPANY PROFILE & MANAGEMENT PROFILE
  17. ISO CERTIFICATE & MSME CERTIFICATE
  18. POLLUTION CERTIFICATE
  19. CMA DATA
  20. MACHINE QUOTATION
  21. BUILDING CONSTRUCTION ESTIMATE
  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
  16. PROJECTED FINANCIAL
  17. PROJECT FEASIBILITY REPORT
  18. COMPANY PROFILE & MANAGEMENT PROFILE
  19. ISO CERTIFICATE & MSME CERTIFICATE
  20. POLLUTION CETIFICATE
  21. CMA DATA
  22. MACHINE QUOTATION
  23. BUILDING ONSTRUCTION ESTIMATE
  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
  17. PROJECTED FEASIBILITY REPORT
  18. COMPANY PROFILE & MSME CERTIFICATE
  19. POLLUTION CERTIFICATE
  20. CMA DATA
  21. MACHINE QUOTATION
  22. BUILDING CONSTRUCATION ESTIMATE
Frequently Asked Questions

How much project financing can I avail of? How is the quantum decided?

The project loan quantum is decided based on your requirement, credit assessment and repayment capacity. However, it is limited to Rs. 40 crore.

What can be accepted as security for my project finance?

We accept a wide range of securities. The spectrum includes land & real estate property; plant & machinery, equipment; Fixed Deposits, Deposit Certificates, KVP, NSC, securities issued by Central and State Governments, gold and other cash equivalents; life insurance policies; and others.

How long will it take to get the project loan?

The project loan will be processed within 20 working days provided everything is in order.

How do I repay my Project loan?

You have the flexibility of opting for Equated Instalment, Bullet Repayment or Ballooning Repayment (depending on the requirements of your business). PDCs, ECS mandate or Electronic Transfers are all accepted means of payment.

Can I prepay the Project loan?

Yes, you can prepay the business loan. Foreclosure charges at 2% shall be applicable on the principal outstanding.

Related Topics

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business Credit Report
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