Business Loan

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Business Loan-Funds to Upgrade/Renovate/Expand Existing Units

Funds to meet the working capital requirements of existing and new units/Funds to upgrade/renovate/expand existing units/Quick approval/Simple documentation/Minimum processing charges/Daily, Weekly and Monthly collection schemes.

Eligibility : 

Member of the MIRAAB INDIA NIDHI LIMITED

  • Holding either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.
  •  Individuals who may be employed/self-employed in business having regular income.
  • Permanent employee of Central/State/Defence//Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.                                                                                                                                     
Purpose of Loan:- 
  • Up-gradation, renovation and extension of residential property.
  • Medical, emergency expenditure for maintenance of family.
  • For expansion of your existing business or begin a dream venture.
  • Meeting any other genuine need as may be specified by the Borrower and agreed to by the Lender.
  • Planning to start a small Business.
Quantum of Finance :As per eligibility and Income Earning Capacity.

Repayment Details: By EMI or Regular.

Processing Charges & Service Tax:

Processing Fees and Other Charges (Inclusive) PLUS Service Tax as applicable.

Supporting Documents for Loan Sanctioning

Photo Identity Proof:

  1. Passport
  2. PAN card
  3. Voters Identity Card
  4. Driving License
Residence Proof:
  1. Telephone Bill
  2. Letter from any recognized Public Authority
  3. Electricity Bill
  4. Ration Card
  5. Letter from employer subject to satisfaction on Bank
  6. Properly Tax Book/Receipt
  7. Registered Lease Deed
Application on Prescribed form

Two photographs of Borrower and Guarantors,Address proof of Borrower and Guarantors (copy of Ration Card, Election card, Telephone bill, Driving License etc.),Income proof, Copy of Income Tax Return, Financial Statement of the Firm, Sales Tax returns etc.,Profile of Guarantors.,Loan should be guaranteed by three financially sound Guarantors having net individual worth twice the loan amount., Any other marketable security.