Ascend your business to new heights.
A Loan exclusively tailored for ambitious and budding Entrepreneurs; looking for financial aid to start a new enterprise. Funding is a vital factor for any new business. At Cosmos, we want to look at the materialization of your ideas and offer financial support. This loan gives you the advantage to carry out manufacturing, production, and other business-related expenditures without worrying about the money.
This scheme aims to provide financial support for small entrepreneurs' working capital needs. The applicant should obtain an undertaking that the amount will be invested in the company's working capital needs.
Cosmos guarantees you a genuine and efficient service with all our schemes. So, dream big and avail the loan facility at any branch near you.
- Loan Limit
Up to Rs.3.00 Crore
- Rate of Interest
“A” Rating – 9.25%* p.a
“B” Rating – 9.50%* p.a
“C” Rating - 10.00 %* p.a.
- Time of Disbursement
15 Days
- Repayment Period
• For purchase of premises - up to 10 years.
• For purchase of Machinery -up to 7 years.
• For purchase of Furniture & Fixtures - up to 5 years.
• For Cash Credit - Review within 12 months.
- Prepayment Charges
Nil
- Loan Limit
Above Rs. 3.00 Crore Up to Rs. 5.00 Crore
- Rate of Interest
“A” Rating – 9.50%* p.a
“B” Rating – 10.00%* p.a
“C” Rating - 10.50 %* p.a.
- Time of Disbursement
15 Days
- Repayment Period
• For purchase of premises - up to 10 years.
• For purchase of Machinery - up to 7 years.
• For purchase of Furniture & Fixtures - up to 5 years.
• For Cash Credit - Review within 12 months.
- Prepayment Charges
Nil
For New proposals
- (Up to Rs. 1.00 Crore) - 0.15% + GST
-
(Above Rs. 1.00 Crore to Rs. 3.00 Crore) 0.25% + GST
Review - 0.20% + GST
- New Proposal - 0.50%
- Review - 0.20%
- Within 12 months- 3%,
-
After 12 months but before 24
months- 2% -
After 24 months-1%
- The applicant shall be engaged in Trading/ manufacturing / Service Industries activity with valid licenses.
- The applicant can be Proprietary concern, Partnership, Firm/LLP/Pvt. Ltd/ Ltd. Co. etc.
- Term Loan Facility Only.
- Term Loan - For Purchase of Plant & Machinery, Furniture, Fixtures, Commercial Premises, etc., for Business Purpose.
List of Mandatory documents of the Borrower, Co-Borrower, and Guarantors:
- Pan card
- Xerox copy of latest (date within three months) Address proof (MSEB Bill or Telephone bill, or employer letter if address proof is not available)
- In case of non-availability of Pan card, for Date of Birth proof (Aadhaar Card or school leaving certificate, or Passport copy)
- Specific loan application with Latest Two Photographs with cross signatures on it.
Income-related
In case of Salaried –
- Last three months original/certified salary slip & 16 A (U/s of Income Tax) along with latest Tax Return copy.
- A Letter from the employer regarding salary will be credited in the bank a/c maintained by the employee till loan a/c gets closed.
- Appointment letter and relieving letter of the earlier employer if the current job is of less than six months old.
- Latest increment letter (if applicable)
OR In the case of businessman,
- Latest three years income tax returns, Assessment orders, Balance sheet, and profit & loss account, with all annexures.
- Business Registration certificate – Shop Act, PAN Card, CST, BST, in case of trading Dealership letter, SSI/SME license if applicable,
- Details about nature of business/profession, experience, clientele
Get In Touch
Our Expert will call you back on the number provided by you within 24-48 hours to assist you further. Thank you for your interest in Cosmos Bank
- small businesses/shops like: -
Hardware, stationery and cutlery, grocery shops, bakery, furniture shops, clothing shops, medical shops, hotels, and restaurants along with small manufacturers.
- Cosmo Small Business Loan Scheme up to Rs. 5.00 Crore in the form of Term Loan to meet the financial needs of a small businessman.
- The scheme is available for Small and Medium-Sized entrepreneurs.
*Terms and Conditions Apply