SBT Business Loan

Hello sir I am Ramesh and I want to apply for Business Loan at State Bank of Travancore (SBT) so will you please tell me what are the documents required for applying for loan?? Also tell me about its Interest Rate

State Bank of Travancore is a subsidiary of the State Bank Group. It was established in the year 1945 under the name of Travancore Bank Limited

As per my knowledge this Bank does not offer Business Loan, it only offer Personal Loans below I am providing you details related to Personal Loan

Documentation needed to apply

1. Signed application form with photograph

2. Copy of passport/voter ID card/driving license

3. Processing fee cheque

4. Last 3 months bank statement/6 months bank passbook

5. Documentation for salaried applicants:
Latest salary slip
Current dated salary certificate with the latest Form 16

6. Documentation for self-employed applicants:
Latest Bank statement
Latest ITR or Form 16

Interest Rates

Interest Rate (Floating): BR + (3.25% to 3.50%) ie., 13.20% to 13.45%

Base Rate - 9.95%

Special Interest Rate: 0.05% above Base rate ie., 10% per annum

Processing Fees: 1.0% of the loan amount sanctioned plus service tax

Loan Tenure: 60 months

Guarantor Requirement: Guarantor required

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Answered By StudyChaCha Member