Loan Schemes

Purpose

• in case of any emergency you can contact Mahesh bank for quick loan

Eligibility

• Any individual who is the true owner of the ornaments .
• Advance is given to male applicant against women ornaments,  On the basis of female consent (mandatory).
• Loan Limit Up to 2 lakhs Bullet repayment.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant i.e. PAN Card, latest photograph, Identity proof, residence proof.
• Declaration from borrower that he/she is the true owner of the ornaments.

Rate of intrest

•  10 %*p.a

Purpose

• Hypothecation Loan is provided for the purpose of growth of a firm or company. This type of loan can be considered for SSI, other manufacturing and processing industrial unit.

Eligibility

• Principal Collateral: Inventory and Book Debts (within 90 days)
• No additional collateral security is required for Loan accounts up to 2 lakhs Limit
• For Loans above 2 Lakhs, the borrower will have to give additional Immovable property as collateral security valued at equal to the loan amount
• Loan Limit: Subject to individual and group loan limits
• Two Income tax Paying guarantors are required for this loan
• Having sufficient score in Cibil ‘s reports

Document Required

• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof
• Residential Proof / Light Bill N.A.Tax Receipt
• Business proof
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years Certified by C.A.
• Latest Stock Statement
• Latest Bank account Statement of Other Banks for previous six months, If Any.
•  Top 5 Customers Sale & Purchase
• Statement of Sundry Creditors and Sundry Debtors Outstanding As of Last Two Quarters (To Be Given Age Wise)
• Challans of Payment of Statutory Dues for Last Two Years
• Shop act / Drug/ Vat/Excise/Pollution Control/ B.S.T.,C.S.T. Excise,S.S.I. or any other Applicable Licenses.
• Certificate of Incorporation
• Brief History of your Business and the Education Background & Experience of the Promoters in Case of Firm
• Constitution Address of Office Date of Establishment, Name of Prop/Partners/ Directors Capital in Business
• Nature of Activity, Turn over ,Bankers Name & Branch with Credit Facility, If Any.

Rate of interest

•  10.50 %*p.a

Purpose

• Overdraft and term loan scheme for practicing Charted Accountants.
• Working capital and / or acquisition of assets like office premises, furniture, fixtures, computers, equipment’s etc for office use.

Eligibility

• Qualified Charted Accountant holding valid COP.
• Minimum age 25Yrs. and Maximum age 55 Yrs.
• Maximum Permissible Loan for Working Capital
  • Less than 1 Years practice Overdraft Rs.1 Lakh & Term Loan Rs.5 Lakh.
  • 1 to 3 Years practice Overdraft Rs.2 Lakh & Term Loan Rs.7.5 Lakh.
  • 3 to 5 Years practice Overdraft Rs.5 Lakh & Term Loan Rs.10 Lakh.
  • More than 5 Years practice Overdraft Rs.5 Lakh & Term Loan Rs.12.50 Lakh.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant i.e. PAN Card, latest photograph, Identity proof, residence proof.
• Degree & COP Certificate.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.

Rate of intrest

• 10 %*p.a
• Overdraft Loan 9.75%
• Term Loan 9.5%

Purpose

• A home loan is a financing solution that you can avail of to buy your desired property.

Eligibility

• Limit up to 70 Lakhs.
• Up to 80% Advance Against Estimated Cost / Or Purchase Deed/Valuation.
• 70% Advance for to 10 Year Sold Flat / Bungalow / Row HOUSE.
• Period 180 Months.
• Rate of Interest 8.50%
• 0.50% Processing Fees of Loan or Max Rs:-10,000/-
• Rs. 5 lakhs Limit for Renovation of Old House.

Document Required

• Latest last 3 months Salary Slip or Latest Income tax return of last 3 years or Last 3 years financial reports (C.A. certified)
• Residential Proof / Light bill N.A.Tax Receipt.
• Pan Card & Aadhar Card.
• Agreement to Sale / Sale Deed of Apartment Deed /Apartment Declaration.
• Payment Receipts.
• Completion Certificate
• Sanction of Bldg Permit & Commencement Certificate.
• Approved Plan Blue Print.
• Completion Certificate
• Latest 7/12 & 6D Abstract for 30 Years.
• Title Search Report.
• Share Certificate, Conveyance Deed, In Case of Society.
• Noc from Builder / Society to Mortgage the Property.
• Sale Deed / Development Agreement / Power of Attorney from Original Owner of the Property.
• NA Order, NA Tax paid Receipt.
• Salary Under Taking for Salaried.
• Two Guarantors Aadhar Crad / Pan Card / Two Photo.
• Two Guarantors Latest Financial Papers ITR B/S & P/L& Computation of income with all Schedule For Last 3 Year Certified by C.A

Rate of interest

• 8.50 %*p.a

Purpose

•  A type of secured loan where customers can pledge their fixed deposit as security and get a loan in return.

Eligibility

• To be eligible for a loan against FD, the basic criteria is that you must hold a fixed deposit with the bank you are availing the loan
• 90% of the fixed deposit amount will be sanctioned as Loan Limit.

Document Required

• Application form duly signed
• Fixed/Term Deposit receipts duly discharged in favour of the bank
• Duly signed agreement
• Shop Act License

Rate of interest

• fixed deposit ROI +1%
• third party loan =fixed deposit loan +1.25% p.a

Purpose

•  A type of secured loan where customers can pledge their fixed deposit as security and get a quick loan in return.

Eligibility

• To be eligible for a loan against FD, the basic criteria is that you must hold a fixed deposit with the bank you are availing the loan
• 90% of the fixed deposit amount will be sanctioned as Loan Limit.

Document Required

• Application form duly signed
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Fixed/Term Deposit receipts duly discharged in favour of the bank
• Duly signed agreement

Rate of interest

• fixed deposit ROI +1%

Purpose

• Clean Cash Credit Limit to small Traders

Eligibility

• Having operative current account  holder of the Bank  for more than six months.
• Having good reputation, experience, credit worthiness and a profit making.
• Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
• Having sufficient score in Cibil ‘s reports.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Shop act / Drug/ Vat/Excise/Pollution Control/ B.S.T.,C.S.T. Excise,S.S.I. or any other Applicable Licenses.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.

Rate of interest

•  14 %*p.a

Purpose

• To meet personal needs e.g. The policy of the bank will be to provide such loans for marriage, marriage, education, domestic problems, etc. But there is no need to see what the borrower has done with the final utilization of such loan.

Eligibility

• Salaried individuals and salaried professionals who have been employed.
• Having sufficient score in Cibil ‘s reports.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• FORM NO 16 FOR LAST 3 YEAR /ITR AND PAYSLIP FOR LAST 3 MONTHS.
• Under taking of an employer.

Rate of interest

•  14 %*p.a

Purpose

• Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree.
• TO PROVIDE FINANCIAL ASSISTANCE TO INTELLIGENT STUDENTS, PROFESSIONAL COURSES INCLUDING HOSTEL ACCOMMODATION TO ACQUIRE TECHNICAL SKILL AND TRAINING IN ANY SPECIALISED discipline like medical,dental,engg., computer science and management etc.

Eligibility

• The student should be an Indian National.
• Should have secured admission to a higher education course in a recognized Institution in India or abroad.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Enrolment /Offer letter with Prospectus of the College/ University.
• Receipts of the Payment made, if any.

Rate of interest

•  11 %*p.a

Purpose

• Clean Cash Credit Limit to small Traders

Eligibility

• Having operative current account  holder of the Bank  for more than six months. 
• Having good reputation, experience, credit worthiness and a profit making.
• Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
• Having sufficient score in Cibil ‘s reports.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Shop act / Drug/ Vat/Excise/Pollution Control/ B.S.T.,C.S.T. Excise,S.S.I. or any other Applicable Licenses.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.

Rate of interest

•  14 %*p.a

Purpose

• A gold loan with an Overdraft facility function is the same as a credit card. You can do the spending according to your need and requirement up to the credit limit based on your gold loan value.

Eligibility

• Having operative current account  holder of the Bank  for more than six months.
• Gold Loan Overdraft loan limit will be approved for borrowers who require gold loan of more than 2 Lakh Rupees.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Declaration from borrower that he/she is the true owner of the ornaments.

Rate of interest

•  10 %*p.a

Purpose

• A Working Capital Loan is one that is availed of to fund the day-to-day operations of a business, ranging from payment of employees’ wages to covering accounts payable.

Eligibility

• Having operative current account  holder of the Bank  for more than six months.
• Having good reputation, experience, credit worthiness and a profit making.
• Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
• Having sufficient score in Cibil ‘s reports.
• Immovable property should be twice to loan amount.
• Having sufficient score in Cibil ‘s reports.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof..
• Shop act / Drug/ Vat/Excise/Pollution Control/ B.S.T.,C.S.T. Excise,S.S.I. or any other Applicable Licenses.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.

Rate of interest

• 12 %*p.a

Purpose

• To purchase commercial new or old shop.

Eligibility

• You should be a resident of India.
• You should be at least 22 years of age at the time of loan application and a maximum of 65 years of age at the time of loan maturity.
• Having sufficient score in Cibil ‘s reports.
• A minimum annual turnover of INR 10 lakhs.
• You should have a business experience of at least 5 years, Must have completed 3 years in current Business.
• The business enterprise should be profit making since the past 2 consecutive years.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.
• Agreement to sale/ Sale deed.
• Payment Receipts.
• Sanction of Bldg Permit & Commencement Certificate.
• Approved Plan Blue Print.
• Completion Certificate.
• Latest 7/12 & 6D Abstract for 30 Years.
• Title Search Report.
• Share Certificate, Conveyance Deed, In Case of Society.
• Noc from Builder / Society to Mortgage the Property.
• Sale Deed / Development Agreement / Power of Attorney from Original Owner of the Property.
• NA Order, NA Tax paid Receipt.
• Salary Under Taking for Salaried.
• Two Guarantors Aadhar Crad / Pan Card / Two Photo.
• Two Guarantors Latest Financial Papers ITR B/S & P/L& Computation of income with all Schedule For Last 3 Year Certified by C.A.

Rate of interest

• 11 %*p.a

Purpose

• Loans will be given as per the demand of builders and developers and according to their ongoing projects. While disbursing the said loans, the project report of their ongoing project will be taken and their limit will be decided accordingly.

Eligibility

• Builders & land Developers for construction.
• Loan will be given 70 % of estimated construction Value.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Shop act / Drug/ Vat/Excise/Pollution Control/ B.S.T.,C.S.T. Excise,S.S.I. or any other Applicable Licenses.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.
• Agreement to sale/ Sale deed / or Apartment deed /Apartment declaration /development agreement/ power of attorney from.
• Sanction of bldg permit & Commencement certificate.
• Latest 7/12 & 6 d abstract for 30 years.
• Share Certificate Conveyance deed, in case of Society 18. NOC from builder/ society to mortgage the property.
• Original owner of the property.
• Payment Receipts.
• Approved plan blue print.
• Completion Certificate.
• Title search report.
• NA order, NA tax paid Receipt.

Rate of interest

•  13 %*p.a

Purpose

• Arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in instalments.

Eligibility

• An individual, Firm,  Private Ltd. Companies, Public Ltd. (subject to Transport Management Directive)

For Individual:

• Repayment is to be ensured within 65 years of age.
• Net income to be minimum 150% of the EMI obligation.

For Business firms/concerns:

• For existing business firms/concerns (this business should be running since at least last 1 year and generating cash profits)
• For new business less than 1 year’s operations, repayment can be considered on future cash flows based on realistic projections.
• Debt Service Coverage Ratio to be minimum 1.50:1
• We give loan up to 70-75% of quotation of basic price. for transport/ commercial vehicle Bank will give loan up to 70% of quotation of basic price.

Document Required

• Duly filled prescribed application form.
• KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Quotation of vehicle.
• Two Guarantor with KYC documents of applicant i.e. latest photograph, Identity proof, residence proof.

Rate of interest

• 12 %*p.a

Purpose

• A Working Capital Loan is one that is availed of to fund the day-to-day operations of a business, ranging from payment of employees’ wages to covering accounts payable.

Eligibility

• Having operative current account  holder of the Bank  for more than six months.
• Having good reputation, experience, credit worthiness and a profit making.
• Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
• Having sufficient score in Cibil ‘s reports.
• Immovable property should be twice to loan amount.

Document Required

• 1.Duly filled prescribed application form.
• 2. KYC documents of applicant and 2 Guarantor i.e. PAN Card, Aadhar card, latest photograph, Identity proof, (e.g. Voter ID, Passport, Driving Licson ) residence proof.
• Shop act / Drug/ Vat/Excise/Pollution Control/ B.S.T.,C.S.T. Excise,S.S.I. or any other Applicable Licenses.
• Latest Financial Papers ITR B/S & P/L & Computation of Income with all Schedule For Last 3 Years.

Rate of interest

• 10.50 %*p.a