Our business loans are targeted at providing quick funds to business concerns towards meeting deadlines and attaining profitability and growth.
Are you out of stock? Do you want to be more efficient in your business? Improve your working capital position in a unique way at attractive interest rates.
While waiting for the disbursement of an approved loan or financial package from the conventional banks or other sources of funding; our clients may avail themselves the opportunity to utilize this facility in order not to lose time on their projects.
The SPL product is a quick financial response to LPOs, Pos, Project and contract finances. We meet your contract deadlines, make your contract originators happy and proud of you at a price of winning more deals.
We understand that individuals (self-employed/paid employments; etc.) would have personal needs arising from time to time (house rent; school fees; etc.). we believe these are short term urgent needs that our clients need not worry themselves about and as such we are positioned to meeting the needs and ensuring our clients keeps smiling day in day out.
This product is designed to assist workers in well structured organizations with regular salaries that require funds urgently to meet pressing personal financial obligations. This loan may be given for a maximum tenure of 8 months. Major collateral requirements are post dated cheques on the salary account & guarantor(s).
This product is designed to assist self employed individuals with good cash flow (shown by bank statements) that requires funds urgently to meet pressing personal financial obligations. This loan may be given for a maximum tenure of 6 months. Due to high risk with this type of loan, applicants must provide additional collateral (e.g. vehicle) apart from credible guarantor(s) which is required for virtually all loan types.
This is a special variant of Education Loan. It is designed to assist individuals (or their children/spouses/relatives etc) who intend to study abroad to secure their travel documents or/and finalize the admission processes. The loan is disbursed into beneficiaries’ account but with a joint mandate of the client and UT(or its staff) with a “post no debit” instruction further placed on it to prevent withdrawals through electronic media. The major target market for this product are pre-university schools that help students secure admissions into foreign schools. Applicable interest & fees are charged with tenures not exceeding 3months.
This product is structured to cater for both business (equipments/vehicles/plants & machineries) and leisure (personal cars; home appliances) asset needs. The structure and repayment terms are quite flexible and are tailored to ensure stress free repayment over a period of time.
Tenure: 6 – 24months
Rate: 3-4% monthly on a reducing balance
This broad category has 2 main loan types as follows: