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  • 19th Annual Report

     

    Bank's 19th Annual Report is available >>> Read More

  • Shivalik Bank and LIC of India join hands!

    Shivalik Bank now offers life insurance plans of LIC of India as its corporate agent. An MoU was

    >>> Read More

Business Use

Loans for Commercial Purposes

Want to expand /upgrade your business further? Shivalik Bank will be happy to help you. Whether you are an industrialist, a retailer or a professional, Shivalik Bank is the most obvious choice to bank with. From the point of view of the category of borrowers, loans can be put under three categories -  

Loans to Professional & Self Employed

  1. Creating / Acquiring permanent property  
  2. Purchase of costly equipments, plant and machinery, renovation of your office / clinic / showroom furniture and fixtures; and
  3. Working capital finance.

Accordingly, Shivalik Bank can be approached for financial assistance under any of the above three categories. 

Loans for Commercial Buildings

Shivalik Bank offers building loans for commercial purposes for school buildings and business premises etc., at very attractive terms.

MAJOR FEATURES

Purpose of Finance:

Construction of school building or other commercial complexes. clinic, nursing home, office building. This loan is also available for renovation, expansion, repairs of the above.

Amount of Loan : 60% of cost of construction/purchase price.

Rate of Interest :  Please visit our Interest Rates page.

Margin : 40% of the total project cost.

Other Requirements

Processing Fee: 0.75% of the loan amount.
Share Capital : 2.5% of the loan amount
Other Charges : at actuals
Insurance : Yes, insurance of building / equipment / furniture and fixtures required.

Period of Finance : Up to 84 months

Primary Security

Equitable mortgage of the building being constructed/purchased.

Collateral: Will be decided by the bank from case to case basis as per loan amount or repaying capacity of the the applicant.

Loans to Micro/SSI units 

Shivalik Bank whole-heartedly supports industrial sector (small and micro units) by offering to them financial assistance for setting up industrial unit at very attractive terms.

MAJOR FEATURES

Purpose of Finance:

Setting up of industrial manufacturing unit. 

Amount of Loan : 75% of building construction+machinery.  

Rate of Interest : Please ask us since it depends upon the quantum of finance and repayment capacity.

Margin : 25% of the total project cost.

Other Requirements

Processing Fee: 0.75% of the loan amount.
Share Capital : 2.5% of the loan amount
Other Charges : at actuals
Insurance : Yes, insurance of building / equipment / furniture and fixtures required.

Period of Finance : Up to 84 months

Primary Security

Equitable mortgage of the building being constructed/purchased.

Hypothecation of the plant and machinery being purchased / acquired.

Collateral: Will be decided by the bank from case to case basis as per loan amount or repaying capacity of the the applicant.

Loans for Commercial Vehicles  

Road Transport system - esp. the public road transport system is the backbone of economy. The road transport operators plying commercial vehicles need financial assistance and Shivalik Bank understands their requirement for timely and adequate financing. New or old commercial vehicles are being financed by us. 

MAJOR FEATURES

Purpose of Finance:

Purchase of New/Old commercial vehicles.

Providing finance against already owned commercial vehicles. 

Amount of Loan : 80% of ex-showroom price for new vehicles; 80% of current evaluation of the vehicle's value as per approved valuer of the bank.

Rate of Interest : please ask for rates which vary according to type of vehicle, new/old.  Interest is charged at reducing balances. 

Margin : 20% of the total project cost.

Other Requirements

Processing Fee: 1.00% of the loan amount for old vehicles / 0.50% for brand new vehicles.
Share Capital : Nominal membership.
Other Charges : at actuals
Insurance : Yes, insurance of financed vehicle. 

Period of Finance : Up to 60 months

Primary Security

Hypothecation of the vehicle being purchased / acquired. 

Collateral: None.

Other requirements: Will be decided by the bank from case to case basis as per loan amount or repaying capacity of the the applicant.

Loans for Small Traders (Rs. 25.00 lacs)

Those tiny business units which are unable to maintain proper accounting system or don't fall under income tax net are generally denied credit facilities by banks.  With a view to promote the concept of Financial Inclusion in our country, Shivalik Bank comes forward to help such tiny businesses grow by allowing them credit on liberal terms.

MAJOR FEATURES

Purpose of Finance:

Working capital for maintaning stocks of trade.

Amount of Loan : Upto Rs. 25.00 lacs.

Rate of Interest : 16% p.a. on reducing balance. 

Margin : ??% of the total value of securities or sanctioned amount whichever is lower. 

Other Requirements

Processing Fee: 0.75%.
Share Capital : Nominal membership. 
Other Charges : at actuals
Period of Finance : Up to 84 months

Primary Security

Hypothecation of the stocks-in-trade.  

Collateral: any security of sufficient value acceptable to the bank.     
Other requirements will be decided by the bank from case to case basis as per loan amount or repaying capacity of the the applicant.

Loans for Small Traders (Rs. 02.00 lacs)  

Those tiny business units which are unable to maintain proper accounting system, don't fall under income tax net and don't even have anything to offer as collateral security are generally denied credit facilities by banks.  With a view to promote the concept of Financial Inclusion in our country, Shivalik Bank comes forward to help such tiny businesses grow by allowing them credit on liberal terms.   

MAJOR FEATURES

Purpose of Finance:

Working capital for maintaning stocks of trade.

Amount of Loan : Upto Rs. 02.00 lacs. 

Rate of Interest : 20% p.a. on reducing balance. 

Margin : ??% of the total value of securities or sanctioned amount whichever is lower. 

Other Requirements

Processing Fee: 0.75%.
Share Capital : Nominal membership. 
Other Charges : at actuals
Period of Finance : Up to 60 months

Primary Security

Hypothecation of the stocks-in-trade being purchased / acquired. 

Collateral: Not pressed for.
Other requirements will be decided by the bank from case to case basis as per loan amount or repaying capacity of the the applicant.