| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Kotak Mahindra Bank
|
10% | 1% |
|
|
Generally, stress assets are the core indicator of banking health. The quality of assets ratio tells the quantity of loan availed by borrowers whether repaid interest & principal amount. This facility provides credit to the promoter of stress assets MSME Sector.
Stressed Assets Finance Eligibility CriteriaThere are few eligibility criteria you are required to have a look before applying for loan
There are Top factors that generally affects Stressed Assets Finance Eligibility Criteria as given below :-
Due to Incomplete Documentation: - One of the major reasons behind affecting the eligibility is incomplete documentation, for applying any kind of loan proper document requirement is the basic criteria of all banks & NBFC, due to incomplete docs your application will get rejected.
Irregular behavior in payment: - Lender will go through your application & check your credit report to know about past performance on doing payments & all, if it seems like you had irregular, default in making payment will affect your eligibility.
What are the ways to increase Stress Assets Finance eligibility?To increase Stressed Assets Finance eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level :-
Do payment on time: - This can be the best way to increase eligibility as lender will consider your past repayment history by checking your credit score. Therefore, by giving importance to do payment on time will rescue from affecting credit score as well as eligibility.
Maintain good credit: - Pay your loan EMI, bills on regular basis to avoid any kind of score affect in credit. If you are looking to close old credit cards, avoid doing that, as it can help you increasing credit limit as well as loan eligibility.
PHOTOGRAPHS 2
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
BRIEF HISTORY OF COMPANY
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
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
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
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
BRIEF HISTORY OF COMPANY
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
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
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
BRIEF HISTORY OF COMPANY
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
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
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
BRIEF HISTORY OF COMPANY
COPY OF ISO 9001:2000 CERTIFICATE / FACTORY ACT REGISTRATION /IEC CODE REGISTRATION PARTY WISE SALES IN LAST 12 MONTHS
RECENT TRAIL BALANCE (INCLUDING CREDITORS & DEBTORS)
LATEST CUTOMER AGING –LISTING ALL THE CUSTOMERS (NOT ONLY THE PROPOSED FACTORALE ONES)
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
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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For applying Stress Assets Loan your cibil score should be above than 750.
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You can get a Stress Assets Loan from financial institute, or a Private and Government Bank.
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You can take up to 50 crores as a Stress Assets Loan.
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NPA is a loan whose interest and/or instalment of principal have not paid (due) for a period of 90 days.
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Select your Ideal Bank or you can apply through website. submit an application for a Stress Assets Loan along with required documents and wait for approval.
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A Stress Assets Loan is a combination of NPA, restructured loans and written off assets
CA Vikas Jain - Our Mentor
9863-02-02-02