If you are SC, ST or Women entrepreneurs with above 18 years of age & having a green field project can apply for Stand up Loan.
Stand up Loan@ 8% Onwards
• Maximum tenure period to repay upto 7 years
• Doorstep assistance to collect document
Calculator InformationThe Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product. The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment. The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.
Length of MonthAll months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.
Number of Weeks or Fortnights in a YearOne year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
Rounding of Amount of Each RepaymentIn practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.
Rounding of Time SavedThe time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.
Amount of Interest SavedThis amount can only be approximated from the amount of time saved and based on the original loan details.
Calculator DisclaimerThe results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
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The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
What you mean by Warehouse construction loan Eligibility Criteria?
The Main aim of the loan providing is to set up warehouse in rural areas to support farmers harvesting fruits & vegetables to be stored on specific temperature from spoilage.
Warehouse construction loan Eligibility Criteria
There are few eligibility criteria you are required to have a look before applying for loan-
- Co-operatives, Agro-processing co-operative societies
- Individuals / Farmers
- Proprietary and partnership firms
Corporations, Agro-Industrial corporations
Group of Farmers/Growers
Agricultural Produce Marketing Committees
Note: – You can avail up to 80% of project cost as a loan amount, but generally min to max ranging for construction loan will be 1 Lakh to 20 Crore.
What are the factors generally affecting Warehouse construction loan Eligibility Criteria?
There are Top factors that generally affects loan Eligibility Criteria as given below:-
Professional status: – If you are a self-employed, professional or businessman then you would require showing all professional details with bank statement as to let know financial stability.
What are the ways to increase Warehouse construction loan eligibility?
To increase Warehouse construction loan eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Relationship with lender: – Having a good relationship with your lender can help you getting multiple advantages, like negotiating loan amount as well as interest rates.
Include extra Income: – Apart from your regular monthly income, you can also add up any income that generated by you as it will additionally increase your eligibility strength.
- 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
- 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 LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH CACERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEARALL 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
- Documents required for Standup India Loan are given below: –
- Identity proof
- Address proof
- Bank statement
- Income proof
- Company documents
- Profit & loss statement of last 2 years
- Latest 1-year ITR filed
Get Stand up India Loan application form by visiting official website- Download the form – Fill the form with correct value
The main aim of the loan is to do funding for at least one SC, ST & women entrepreneurs per bank for setting up greenfield project.
- Stand up Loan offers you the benefits of below given: –
- Stand up Loan at competitive Interest Rates
- Simplified documents processing
- Doorstep assistance is available
- No need to pledge collateral/assets
- Flexible tenure facility
Under Stand up Loan borrower can get minimum 10 lakh to maximum 1 Crore loan amount.
Processing fee is levied upon processing Stand up Loan application which from 0.5% to 3.00%
All government banks provide this credit facility as given below: –
- State Bank of India
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Central Bank of India
- Canara Bank
- Punjab National Bank
- Indian Bank
- Jammu & Kashmir Bank
- Union Bank of India
- United Bank of India
No, not any scheme is available for this credit facility as it does only funding & that too up to 75% of project cost.
The current Interest Rate for Stand up Loan India starts from 10.00% to 22.00% depending on applicant credit profile & earlier repayment history.