Copy of Bank Guarantee obtained by the beneficiary, reason to avail Bank Guarantee & other details of Collateral/Assets that will be pledged.
Loan Against Bank Guarantee @ 7.20% Onwards
• Simplified document processing
• Doorstep assistance available
• Flexible tenure period
• Doorstep assistance available
• Flexible tenure period
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Eligibility Criteria
What you mean by Loan against bank guarantee Eligibility Criteria?
Loan against bank guarantees are made by bank against the financial guarantee of scheduled commercial banks. Bank guarantees process take place to promote domestic & international trade. Not everyone able to apply, there is a specific eligibility you need to look forward.
Loan against bank guarantee Eligibility Criteria
Loan against bank guarantee 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
- • Age Limit of Self –Employed Individuals – 24 to 65
- • Must have good financial record
- • Minimum Years of Business continuity –2- 5 Years
Documents Required
- PHOTGRAPHS 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
- 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
- PHOTOGRAPH PARTNERS
- PAN CARD – COMPANY, ALL PARTNERS
- ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
- FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST1 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
- 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
Frequently Asked Questions
A Loan Against Bank Guarantee is generally used by traders with the aid of this credit facility, the borrower can able to purchase equipment, machinery, furniture, raw material etc for commercial purpose.
You can easily get this type of credit facility offered by SBI State Bank of India at competitive Interest Rates with minimal documentation.
Applicant applying for Loan Against Bank Guarantee facility must have existing 3 years of business continuity with latest year with profitability & should have good credit history.
- Lowest Rate of Interest.
- No upfront service charges.
- No maximum limit restriction.
- Interest calculation on per day utilization basis.
Yes, you can apply online or vising the branch for this loan.
Yes, you can get a loan if you have a savings account.
By following some simple steps, you can get loan; –
- Select your ideal bank
- Check your cibil score
- Apply through website or visiting a branch
- Fill all documentation
- Wait for loan approval and start making payments.
