ING Vysya Business Loan | Interest Rates | Eligibility | Information

ING Vysya Business Loans: Get details on Latest Interest Rates, Documents, Eligibility, EMI and Processing charges charged by Bank on Self Employed Loans.


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Loan Amount

Small business entrepreneurs often encounter problems regarding finance. ING Vysya Bank presents a unique banking loan, specially customized for Small & Medium Business Enterprises.

These loans are available for Small Business Entrepreneurs, Retailers, Shop owners, Contractors, Commission Agents and Transport Operators as well as practicing professionals like Doctors, Lawyers, Consultants, Women Entrepreneurs and any others with a credit requirement ranging fromRs. 5 lakhs upto Rs. 200 lakhs. 

ING offers loans to Small Scale Industries at competitive interest rates without any collateral security.

Credit Guarantee Fund Trust for Small Industries [CGTSI]

ING is one of the member lending banks for CGTSI. ING Ltd offers loans of up to Rs 25 lakhs to SSI units under CGTSI at competitive interest rates without any collateral security and / or third party guarantee. In addition the guarantee fee payable to CGTSI would be debited to the account.

Minimum Loan Amount: No Minimum Amount

Maximum Loan Amount: Rs 25 lakhs

Eligibility:

The SSI units engaged in activities like manufacturing, processing or SSSBEs, including Information Technology and / or Software industry are eligible.

Guarantee fee payable to CGTSI:
One time Guarantee fee of 2.5% of the credit facility sanctioned.
Annual Service fee of 1% of credit facility on the outstanding loan amount as on March 31 each year.

Collateral: No additional collateral is required

Features and Benefits
Personalized attention from exclusively assigned Relationship Managers
Simplified documentation
Added benefits of a current account *
Life and non-life insurance coverage
Doorstep banking through Cash/Cheque Pickup and Delivery-extended at important locations under a separate agreement with the bank
Free SMS alerts on Debit to an Account, Credit to the Account and Balance below specified amount
Concessional Demand Drafts/Pay Orders/Payable at par (PAP) facilities
Online Banking services
Phone Banking (Customer Service Line)
At par cheque collections

The loan quantum is based on Projected Sales Turnover and Net owned funds, assessed by the bank’s official on the following criteria:

Your past track record
The routine requirements of your business
Your market reputation
Security coverage rather than the mere financial statements.

 

 

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