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Sale Bill Discounting

Bank Name Min Interest Rate Processing Fee Foreclosure Charge Max Tenure (Month) Chances of Loan Approval
16.00% 1% 2 6
10.00% 1% 2 6
11.00% 1% 2 6
Apply Now EMI Calculator Eligibility Criteria Documents Check List FAQs
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Eligibility Criteria

What you mean by Sale bill discounting Eligibility Criteria?

It is a short-term facility where individual borrow loan from banks & NBFC’s due to customer’s late payment unable to manage cash flow, wherein, sale bill discounting plays an important role in managing & increasing working capital of business.

Sale bill discounting Eligibility Criteria

  • • Minimum existence of business should be 10 months
  • • Must mention the exact date of outstanding payment to be made
  • • Age Limit of Individuals – 24 to 65 years of age
  • • Good financial statement
  • • Credit score above 650

Note: - You can avail Up to 80% of actual invoice receivable as a loan amount.

What are the benefits of availing sale bill discounting?

Increase working capital: - Generally, the major reason behind most businesses having good cash flow is the customer transactional behavior, till they receive payments on time there won’t be any problem faced by the company. But when the customer makes delay payments, company get worried about cash flow, where bill discounting is the ideal solution for getting things in track on time.

Easy obtain of Cash: - Bill discounting is far better than other loan in terms of time consuming, once's lender get yours pending invoice receivables within a short period of time you can easily obtain cash.

Avoid long time payment: - Why you have to wait, when you already spended whole time from getting raw materials to providing services & waiting still receiving payment from customers. Let your worries be aside just pledge invoice discounting & get immediate cash to manage your cash flow without waiting for a long while.

Collateral not required: - As most of you know, collateral consider to the key points while availing any type of loan, but bill discounting is one such unique products which allow you to get quick access to cash flow without pledging collateral/assets.

Documents Required

INDIVIDUAL
  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. BRIEF HISTORY OF COMPANY

  11. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS

  12. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)

  13. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)

  14. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE. AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY

  15. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

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 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. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS

  15. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)

  16. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)

  17. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE .AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY

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

  16. BRIEF HISTORY OF COMPANY

  17. COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS

  18. RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)

  19. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)

  20. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE .AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY

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

  16. BRIEF HISTORY OF COMPANY

  17. LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)

  18. FOR EACH PROPOSED FACTORABLE CUSTOMER => INVOICE + PURCHASE ORDER + SHIPPING DOCUMENT /POD + REMITTANCE ADVICE .THE SETS OF DOCUMENTS MUST RELATES TO THE SAME INVOICE .AT LEAST 6 SETS (TRANSACTION) RELATES TO DIFFERENT MONTHS FOR EACH PARTY

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.

Can I apply for Debts Consolidation in bad cibil score?

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For applying Debts Consolidation Loan your cibil score should be above than 750.

Who is eligible for Debts Consolidation?

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Salaried individual can apply for Debts Consolidation Loan.

What is Debts Consolidation?

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Debts Consolidation is a process of combining a single loan into one Interest Rate.

How we can get Debts Consolidation?

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You can get a Debts Consolidation Loan from financial institute, or a private and government bank.

Is Debts Consolidation Secured Loan or an Unsecured?

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Debts Consolidation loan may be Secured or Unsecured.

Is Collateral required in Debts Consolidation?

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Debts Consolidation Loans required Collateral, such as your home, car, retirement account, or insurance policy.

What are the benefits of Debts Consolidation?

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  • Minimal documentation
  • Flexible tenor
  • Instant approval
  • Pre-approved offer

How much loan I can get for Debts Consolidation?

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You can take a up to 25 lakhs for Debts Consolidation.

How can I apply for Debts Consolidation Loan?

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You can apply for Debts Consolidation through online from these following steps: -

  • Choose your loan amount
  •  Summit all required documents
  • Receive the amount in your bank within 24 hours.

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