Business loans may be granted to Companies, firms, trusts and other entities of repute with credit worthiness and track record.

The loan will be sanctioned as a Demand Loan, repayable on demand, for a maximum tenure of 60 months. The Company may, at the request of the borrower, allow repayment in convenient instalments or equated monthly instalments.

The quantum of finance will be decided mainly on the basis of the borrowers’ repaying capacity and the value of security provided.

Interest rates will be fixed as per the interest rate policy of the Company and may differ for different schemes and different categories of borrowers. Processing charges as decided from time to time may be recovered.

Many of our customers availing gold loans belong to traders and self – employed category. With a view to attract such customers and to retain them with us, loans can be granted to them based on their income earning and repayment capacity duly backed by a good credit history as revealed by their CIBIL Reports. New customers not having relationship with us may also be considered. The loan will be unsecured. Spouse will be a co-obligant for such loans. If no spouse, co-obligancy by a suitable close relative like father, brother etc. to be insisted upon.

Salient features of the scheme are -

Eligible customers

Wholesale and retail traders, Self-employed professionals like allopathic doctors, chartered accountants, company secretaries and architects.

Purpose

For any genuine business purpose (Working capital requirements, acquisition /repair/ renovation of fixed assets/ equipments / machinery etc). Loans for personal purpose will not be granted under the scheme.

Quantum of finance

As decided by management from time to time.

Any officially valid documents for completing KYC as given below.

1. Identity proof: Passport / Voters ID card/ Driving License/PAN Card/Aadhar Card
2. Address Proof: Passport / Voters ID card/ Driving License/PAN Card/Aadhar Card Ration card Tel/ Electricity Bill/ Lease agreement.
3. Application form
4. Loan Agreement
5. DPN
6. DP Note Delivery Letter
7. Post-dated cheque Acknowledgement letter
8. Request for disbursal of loan amount
9. IT returns for the last 3 years

Repayment By way of monthly EMI. EMI can be paid through ACH mandate and credited to a dedicated account. Other modes of repayment also can be made.

Interest and charges including penal interest.

Interest rates will be fixed as per the interest rate policy of the Company and may differ for different schemes and different categories of borrowers. Processing charges as decided from time to time may be recovered.

Minimum three months and maximum 24 months.

Sourcing and recovery shall be by BFCL branches. If found necessary services of outside agencies can be availed.