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Stated below are the minimum parameters for prospective borrowers that meet the minimum criterion of qualifying for obtaining financing from our SME division.
Please note that these requirements only represent a reasonable benchmark for eligibility and their fulfillment does not guarantee approval of finance. Bank on its discretion can vary these benchmarks on case to case basis as per its internal policies and holds the final right to accept/reject a loan application.
|Age of Business & Experience of Key Decision Maker||Min 3 years|
|Purpose of Loan||
-Facility shall be availed to meet business needs only.
-Clear and precise intended fund utilization needs to be in place from the borrower.
|Financials: Leverage Ratio:
Profit Before Tax
Debtors Aging List:
|As per bank’s leverage policy framework
Positive for at least 3 years
Min 70% within 120 days
Positive cash flow from operating activities
At least 50% of total sales from banking channels.
|e-CIB Status||Clean credit history for the last 12 months, no
write-off or litigation in past with any bank
| Market Check
General Market Check
Positive feedback from suppliers.
Positive feedback from buyers.
No Negative feedback.
|Collateral Requirement||Yes. The exact requirement will vary on case to case basis|
Bank will assess customer’s financing needs and set financing limits accordingly. Maximum limit will be as per Prudential Regulations of SE & ME.
Mark-up to be charged to customer is based on three months KIBOR + agreed spread. The recovery of markup is on quarterly basis except for Term Loans where mark-up is built-in agreed TF installment and recovered as per agreed schedule. All other charges are as per our prevailing Schedule of Charges (SOC).
Please find attached the Term Loan Calculator.
Following are the set of documents required to process client’s financing request:
Finance can be adjusted upon its maturity date or prematurely before maturity date i.e. any time during the validity of finance period. The late payment penalty amount and other charges will be applicable as per Bank’s prevailing SoC.
Any company, who fulfills our eligibility criteria, may apply for credit facilities / trade lines from any of our branches. If the branch is non-financing branch, the Branch Manager shall guide the applicant and forward the applicant’s request to the nearest/pertinent branch.
Click here for Repayment Schedule