BANDHAN BANK - BL SELF EMPLOYED POLICY // DEC-22
Personal Loan : Self Employed Non - Professionals
1)
Target Category:
- Self Employed Non Professionals (Both NTB and ETB) with minimum business vintage of 2 years in same line of business
- Customer profile
o Sole proprietor/individual
o Individual partner
2)
Offering:
- Minimum Loan Amount – Rs. 50,000/-; Maximum Loan Amount – Rs. 15,00,000/-
- For NTC, Maximum Loan Amount – Rs. 3,00,000/-
- Tenure – 12 months to 60 months (in multiples of 12)
- Rate of Interest based on CIBIL, as per rate chart
|
PL Lending
Rate as on 14th Sept’21 |
CIC SCORE > = 750 |
CIC SCORE >=700<750 |
CIC SCORE >= 650 <700 |
|
SENP |
16.00% |
17.00% |
18.00% |
3)
Age Norm:
- For applicants, minimum age is 23 years and the maximum age on maturity of the loan have to be within 65 years.
- For Co-applicant, minimum age is 23 years and Max 70 years at the time of maturity of the Loan.
- For Non-Individuals, no age limit
4)
Credit Bureau Score:
- Credit Bureau check is mandatory for both Applicant and Co-applicant
- Minimum credit score should be >=650
- Bureau score -1, 0 to 18 will be considered as New to credit (NTC)
- If any one of the Financial applicant / co-applicant has credit bureau score, the case should not be considered as NTC.
- At the time of sanction, maximum running unsecured loan should not be more than 3 including Bandhan Bank retail loans (credit card, CD Loans not to be considered).
- Commercial Bureau to be checked for all except SEP and Individuals.
5)
Residence & Job
Stability:
- Minimum stability of 6 months at Current address/city – in case of rented residence.
- For self-owned residence – no stability required, shall be in same city for minimum 2 years.
- For SENP, Minimum 2 years in same Line of Business.
6)
FOIR:
- 75% for all
7)
Banking
- 12 months bank account statement is mandatory
- MAB requirement: 1 time of the EMI
- Maximum 2 accounts can be clubbed for MAB calculations
- Minimum 1 debit and 2 credit transaction on monthly basis
- Not more than 3 inward cheque returns in the last 6 months
- MAB Calculations
o Average of balances on 5th, 15th, 20th and 25th date of the month
o For Overdraft accounts – average of unutilized limits as on 5th, 15th, 25th of the month
8)
Financial Norms:
-
Minimum required Net
Profit/PAT: Rs. 2.5 Lacs for Metro and Rs. 2 Lacs for Urban/Semi Urban/Rural
-
Minimum 2 Years ITR is required
with computations.
9)
Rental Income:
- Rent Agreement is compulsory along with 3 Months bank statement with rent credit
- Minimum salary income/business income should be at least 75% of the eligible income
- Rental Income should be in the name of applicant only
10)
Product Programme:
- Income Program
o DSCR (loan amount more than 5 Lac)
o ITR Surrogate (loan up to 5 Lac)
- Banking Surrogate
-
GST Surrogate
11)
Eligibility for -
Exiting PL Customer of the Bank
-
Minimum 9 months Clean Track.
-
Maximum once in SMA 0
-
Loan quantum – Max 1.5 times of
Original Loan Amount after obligation, of existing loans (if any)
12)
Documentation:
Self Employed Non-Professional (SENP):
- KYC Documents of the Applicant & Co-applicant.
-
Financials (Balance Sheet,
Profit & Loss Account, ITR with Computation) for last 2 years.
-
Business continuity proof of
Minimum 2 years in the same line of profession. Any one of the Trade license,
GST Returns, Shop Establishment Certificate, Bank Statement in the name of the
business with date of account opening etc may be taken as business continuity
Proof
-
Current/Savings account
statement for last 1 year.
-
GST Return 3B for last 1 year
(For GST Surrogate)
-
For Eligibility under DSCR
programme, Audited Financial for latest year along with 2 years ITR is
required.
