Documents For Business Loan Application

Signed Application Form

Identity Proof (PAN)

Residential Address Proof

Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.

Last 12 months bank account statement (self and business)

Certificate and Proof of Business Existence

Business Profile

Office address - ownership/ lease / rent agreement/ utility bill

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Loan Amount	Cashback
Rs. 12 lakh and above	Rs. 2,500
Rs. 8 lakh - less than Rs. 12 lakh	Rs. 1,500
Rs. 6 lakh - less than Rs. 8 lakh	Rs. 1,000
Rs. 4 lakh - less than Rs. 6 lakh	Rs. 500
Less than Rs. 4 lakh	Rs. 200

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Business Loan News - Oct 2019

2019-10-07 : Punjab National Bank aims at digital transformation
Punjab National Bank is all set to transform into a technology-driven large bank, after its collaboration with United Bank and Oriental Bank of Commerce. Through digital services, the bank aims to offer better loan terms by estimating the accurate risk level and financial stability of the customer. Also, customers could easily get information on their finances, and on any retail or business loans before opting for one.
2019-10-01 : Customer outreach loan initiative to begin from October 3
In a bid to provide affordable and accessible loans to retail and MSME loan borrowers, various public and private sector banks planned to launch a one-stop loan destination for customers. The first phase of the event is likely, to begin with, October 3 and would cover about 250 districts. During the four-day event loan products like business, agricultural, auto, education, home, and personal loans will be available to customers. The second phase of the event will cover about 150 districts and conducted on 21-25 October.
2019-10-01 : Indian Overseas Bank offers repo-linked loans from today
After RBI directed banks to link their lending rates with external benchmarks, Indian Overseas Bank is set to offer loans linked with repo rate. As per the update, the Bank will provide retail and MSME loans at repo rate+2.85% as the spread. Further, the Bank will also offer the benefit of 0.25% to small borrowers by charging Mudra Loans up to Rs 50,000 at 8.25%. This will be in effect from October 1, 2019.
2019-10-01 : Punjab National Bank to co-originate loans with NBFCs
In a bid to provide more credit flow, Punjab National Bank is all set to provide loans by co-originating funds with NBFCs. The Bank is planning to co-originate loans amounting to Rs 4,000 crores. The Bank has already funded some potential NBFCs regarding the co-origination that is expectedly beneficial to the Bank and to the customers due to affordable retail loans.
2019-10-01 : Repo rate linked loans by Canara Bank
With effect from October 1, 2019, Canara Bank will provide loans at lending rates linked to RBI’s repo rate. The bank will provide retail and MSME loans charged at an interest of 8.30%. RBI linked repo rates will bring in more transparency and easier transmission of rate cuts on lending rates.

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