Bandhan Bank Term Loan

1. Bandhan bank offers their term loans with an amount based on the customer’s assessment. After the submission of all the documents, the banks will provide the amount at their discretion.
2. The term of repayment for all applicants, such as individuals, partner, or even proprietorship will be a maximum period of 7 years, which will include a 3 months moratorium period.
3. The bank will offer a prepayment facility for this loan.
4. The applicants should have a minimum of at least 2 years of experience in their current business enterprise when they apply for the term loan.
5. At the bank’s discretion, new entrepreneurs or enterprises will also be considered for the term loan.
6. Any proprietorships and non-individual applicant, should have good business record of at least 2 years.
7. The bank will charge a processing fee of 1% plus taxes that are applicable.
8. The margin will be a 25% as per the bank.
9. The loan after verification of all documents will be disbursed in a matter of 7 days.
10. All assets financed with this loan will have an insurance coverage as per the bank’s clause.
11. The bank will charge an interest rate that will be linked to their base rate of 12%. This is subject to change their discretion.

Documents required

1. The completely filled application form.
2. All the KYC or know your customer documents such ID proof, address proof, etc. will have to be given to the bank.
3. All financial related documents for the last 2 years of the enterprises existence will need to be provided.
4. A Performa invoice copy will also need to be provided.
5. 3 passport photographs of the applicant be it an Individual Borrower, Director or Partner applicant will need to be submitted to the bank.
6. If a guarantor is required, 2 passport photographs of the guarantor will also need to be submitted.
7. All ownership documents of the enterprise will have to be provided to the bank.
8. Related documents such partnership deed, memorandum of association, and articles of association must also be provided to the bank at the time of application.
9. The bank can request for further information and documentation as well which the applicant will need to provide.

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