Union Bank of India
There are many features of Business Loan offered by Union Bank of India. These include:
- Quantum: Above Rs 5 crores to Rs 25 crores.
- Appraisal/Assessment: Based on FBF with relaxed terms i.e. Current Ratio at 1.1:1, DER at 3.00:1 and DSCR at 1.50:1.
- Collateral coverage of not less than 20% of total exposure.
- Interest rate ranging from 125 bps below BPLR to maximum BPLR for Working Capital based on credit rating.
- Further interest concession upto 0.50% in case of SME rated by SMERA or CRISIL.
- Multicity Cheque Book
- Cash Management Services
- Quicker disposal with reduced time frame for sanction within 15 days.
- The scheme being implemented through 50 designated branches.
|Loan Amount||Rs 5 crores to Rs 25 crores|
|Pre Payment Charges||Not mentioned|
Service charges not provided
Eligibility Criteria : Business Loan
|Age||Age criteria not provided|
|Income||Income criteria not provided|
|Job Experience||Job experience not provided|
|Residence Proof||Residence proof not provided|
Docs Required : Business Loan
|ID Proof||Passport/driving license/voter ID|
|Address Proof||Electricity bill/telephone bill|
|DOB Proof||Certificate of birth/Matriculation certificate|
Other Charges : Business Loan