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Bandhan Plus Business Loan

Loan offer to existing customer with decent vintage and satisfactory repayment with Muthoot Fincorp Ltd (MFL). To offer more variety of products with competetive edge in order to retain existing customers and to meet their business and personal requirements It is offered to both salaried and self-employed segment.

Product Variants Description
Bandhan Plus Secured Loan Self employed under Lower- and Middle-income category and existing relationship with MFL, looking for funds to operate the business, inventory purchase etc. Primary security is by way of hypothecation of the business stocks / book debts.
Bandhan Plus Unsecured Loan Profile with bank credit salary and existing relationship with MFL, Fund required to meet sudden emergency within family, personal needs, family functions etc

Product Highlights :

1 Quick Loan Processing Basis Existing Relationship with MFL
2 Minimum Paperless Documentation for Loan
3 Incremental Loan with Low Rate of Interest
4 ITR Not required for Loan Purpose
5 Loan for Salaried and Self Employed Both
  Bandhan Plus Secured Loan Bandhan Plus Unsecured Loan
Minimum Loan Amount Rs. 1 Lakh
Maximum Loan Amount Rs. 10 Lakhs
Processing Fee up to 3% + GST
Minumum Tenure 6 Months
Maximum Tenure 24 Months
Customer Profile Self Employed
Salaried
Age of the Applicant For Self Employed: 21 – 65 years at the time of loan origination
For Salaried: 21 -58 years at the time of loan origination
Pre-closure Charge 3% + GST on overall principal outstanding
ROI 18% – 22% per annum
Repayment Mechanism NACH

Document Required

  • FOR SALARIED CUSTOMER

    3 MONTHS PAY SLIP

    6 MONTHS BANK STATEMENT

  • FOR CASH SALARY

    SALARY CERTIFICATE DULY SIGNED BY THE AUTHORISED SIGNATORY OF EMPLOYER.

  • FOR SELF EMPLOYED

    BANK STATEMENT

    GST RETURN

    ITR

    KACHA RECORD

    SALES BILLS

    PURCHASE BILL

    LEDGERS

  • KYC CHECK LIST (Need to provide one proof from the given options under each category)
    ID PROOF: DL ELECTION ID CARD PAN CARD PASSPORT AADHAR  
    ADDRESS PROOF: DL ELECTION ID CARD PASSPORT AADHAR UTILITY BILL  
    AGE PROOF: DL PAN CARD PASSPORT AADHAR BIRTH CERTIFICATE SCHOOL / COLLEGE PASSING CERTIFICATE
    BUSINESS ADDRESS PROOF: UTILITY BILL LI POLICY COPY OF REGISTERED LEASE SHOP & ESTABLISHMENT CERTIFICATE PARTNERSHIP DEED  
    UDYOG AADHAR BANK STATEMENT (NOT MORE THAN 3 MONTHS OLD) COI/MOA/AOA/FORM 32      
    BUSINESS EXISTENCE & STABILITY: PAN CARD UTILITY BILL SHOP & ESTABLISHMENT CERTIFICATE GST CERTIFICATE PARTNERSHIP DEED  
    UDYOG AADHAR STATEMENT (NOT MORE THAN 3 MONTHS OLD) MOA/ AOA/FORM 32      
    SIGNATURE PROOF: PAN PASSPORT LETTER FOR EXISTING BANKER ON BANK LETTER HEAD      
    MFL would be having the discretion to demand any subsequent documents if required. On best effort basis, where applicable.
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