CITI Bank Business Loan
| Bank Link | http://www.citibank.com/us/citibusiness/credit.htm |
| Loan Amount | Rs. 10 lac to Rs. 15 crores |
| Interest Rate | Not Available |
| Tenure | Upto 10 years |
| Pre Payment Charges | Up to 4% of outstanding |
Service Charges
Booking Fee: Up to 1% of the loan amount sanctioned. The fee is collected at the time of loan documentation or is deducted from the disbursal. Recurring Annual Service fees on Home Credit: The annual renewal fee is charged up to a rate of 1% of the line amount.
Penal Interest Rate: Delayed/Penal Interest is levied in case of non-payment of the monthly payment. It is charged at the rate of 2% above the prevailing interest rate on the loan outstanding for the defaulted period.
Bounce Charges: Cheque/ECS/SI Bounce will be charged at the rate of Rs. 500.
Loan Pre-closure Charges (Only Applicable in case of full pre-payments):Up to 4% of outstanding.
Eligibility Introduction
Any business organised as sole proprietorship, partnership or private limited company and having a turnover of above Rs. 44 Lakhs can avail of the loan.
| Self | |
|---|---|
| Minimum Age (in yrs.) | Age criteria not provided |
| Minimum Income (in Rs.) | Income criteria not provided |
| Minimum Work Experience (yrs.) | Job experience not provided |
| Residence Status (yrs.) | Residence proof not provided |
| Id Proof | Passport/driving license/voter ID |
| Address Proof | Electricity bill/telephone bill |
| DOB Proof | Certificate of Birth/Matriculation certificate |
| Salaried | |
|---|---|
| Minimum Age (in yrs.) | Not applicable |
| Minimum Income (in Rs.) | Not applicable |
| Minimum Work Experience (yrs.) | Not applicable |
| Residence Status (yrs.) | Not applicable |
| Id Proof | Not applicable |
| Address Proof | Not applicable |
| DOB Proof | Not applicable |
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