| Bank Name | Maximum Loan Amount | Monthly EMI ( Principal amount only ) |
|---|
| Bank Name | Min Interest Rate | Processing Fee | Forclosure Charge | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
8.50% | 1 % | 2 % | 120 |
|
|
Bank of India
|
8.75% | 1 % | 2 % | 120 |
|
|
Bank of Maharashtra
|
9.50% | 1 % | 2 % | 120 |
|
|
Canara Bank
|
8.50% | 1 % | 2 % | 120 |
|
|
Central Bank of India
|
8.50% | 1 % | 2 % | 120 |
|
|
Indian Bank
|
8.70% | 1 % | 2 % | 120 |
|
|
Indian Overseas Bank
|
9.00% | 1 % | 2 % | 120 |
|
|
Karnataka Bank Ltd.
|
8.65% | 1 % | 2 % | 120 |
|
|
Punjab & Sind Bank
|
9.00% | 1 % | 2 % | 120 |
|
|
Punjab National Bank
|
8.80% | 1 % | 2 % | 120 |
|
|
State Bank of India
|
8.70% | 1 % | 2 % | 120 |
|
|
Small Industries Development Bank of India (SIDBI)
|
8.75% | 1 % | 2 % | 120 |
|
|
South Indian Bank Ltd.
|
8.90 % | 1 % | 2 % | 120 |
|
|
UCO Bank
|
8.50% | 1 % | 2 % | 120 |
|
|
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Union Bank of India
|
8.80% | 1 % | 2 % | 120 |
|
|
United Bank of India
|
9.00% | 1 % | 2 % | 120 |
|
|
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 CriteriaProject 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
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.
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
PROJECTED FINANCIAL
PROJECT FEASIBILITY REPORT
COMPANY PROFILE & MANAGEMENT PROFILE
ISO CERTIFICATE & MSME CERTIFICATE
POLLUTION CERTIFICATE
CMA DATA
MACHINE QUOTATION
BUILDING CONSTRUCTION ESTIMATE
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
PROJECTED FINANCIAL
PROJECT FEASIBILITY REPORT
COMPANY PROFILE & MANAGEMENT PROFILE
ISO CERTIFICATE & MSME CERTIFICATE
POLLUTION CERTIFICATE
CMA DATA
MACHINE QUOTATION
BUILDING CONSTRUCTION ESTIMATE
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
PROJECTED FINANCIAL
PROJECT FEASIBILITY REPORT
COMPANY PROFILE & MANAGEMENT PROFILE
ISO CERTIFICATE & MSME CERTIFICATE
POLLUTION CETIFICATE
CMA DATA
MACHINE QUOTATION
BUILDING ONSTRUCTION ESTIMATE
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS.
LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
PROJECTED FEASIBILITY REPORT
COMPANY PROFILE & MSME CERTIFICATE
POLLUTION CERTIFICATE
CMA DATA
MACHINE QUOTATION
BUILDING CONSTRUCATION ESTIMATE
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.
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You can take loan from Private or Government bank or financial institute.
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There are some advantages of Project Loan given below
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Eligibility Criteria for Self-Employed Individuals, companies, and partnership firms.
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When we take loans for any project like an industrial project, public services, infrastructure, construction and innovation, etc.
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Bank will check your repayment capacity, collateral, capital, character, and conditions.
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The charges are project-appraisal, legal services, commitment, non-utilization, Competitive processing fees etc.
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You can repay your Project Loan normally in 6 months or 12 months.
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CA Vikas Jain - Our Mentor
9863-02-02-02