Corporate Business Loans from Lakshmi Vilas Bank
One of the fast-growing private banks in India, Lakshmi Vilas Bank offers a wide range of finance products to different segments of its customer base. The bank has a wide array of funded and non-funded facilities for its retail, corporate, MSME, NRI and other customers. The bank offers different business loans to its corporate customers.
Some of the business loans from Lakshmi Vilas Bank are:
- Lakshmi Business Credit (Working Capital Loan)
- Lakshmi Business Term Loan (Term Loan)
- Loan Against Property
- Loan Against Security
- Lakshmi Commercial Vehicle Loan
We give you a brief intro to the business loans below. In addition, you have the option to click further and read in detail about the loans in a specific page of their own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. If information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
Lakshmi Business Credit (Working Capital Loan)
The loan helps businesses finance their everyday operations such as for investment in current assets, purchase of raw materials, salary payments, power charges, etc. This a perfect loan scheme for businesses that need help during periods of reduced business activity or other cases when the funds are short to meet the business needs.
Features of the Lakshmi Vilas Bank Working Capital Loan
Why this Loan?
- The Lakshmi Business Credit can be availed for all projects and activities related to running the business on a day-to-day basis
- The maximum loan to be sanctioned is Rs. 5 crore subject to terms. The bank assesses the borrower’s profile carefully before deciding the loan amount to be sanctioned under this loan scheme
Lakshmi Vilas Bank Business Term Loan
This umbrella loan scheme helps businesses get financial assistance to meet their needs for growth and expansion of business. All businesses in the manufacturing, trading and services sector are eligible for this loan.
Features of Lakshmi Business Term Loan
Why this Loan?
- The Lakshmi Business Term Loan schemes are perfect for businesses that need funds for business growth and expansion-related activities
- The loan must be repaid in Equated Monthly Instalments (EMIs) within 10 years
Lakshmi Vilas Bank Loan Against Property
This loan helps business owners raise capital towards expanding their business by availing a loan against property. The minimum loan amount sanctioned under this loan is Rs. 10 lakh.
Features of Lakshmi Vilas Bank Loan Against Property
Why this Loan?
- The Lakshmi Business Loan Against Property schemes are perfect for businesses that need funds for business growth and expansion-related activities
- The loan must be repaid within 10 years
For more details on this loan, please click anywhere on this sentence to get to its specific page.
Lakshmi Vilas Bank Loan Against Securities
This loan helps businesses finance their activities such as investment in current assets, purchase of raw materials, salary payments, power charges, etc. by pledging securities such as shares, mutual funds, insurance policies, etc. The bank offers a specific loan product viz. Digital Loan Against Mutual Funds under this loan scheme.
Features of Lakshmi Vilas Bank Loan Against Securities
Why this Loan?
- Lakshmi Business Loan Against Securities can be availed for all projects and activities related to running the business by pledging investments such as mutual funds, insurance, shares, etc. Only dematerialised shares of companies in the BSE Top 200 list are eligible for this loan
- The borrower cannot avail this loan against shares of Lakshmi Vilas Bank
- The maximum loan amount sanctioned by the bank is Rs. 20 lakh
For more details on this loan, please click anywhere on this sentence to get to its specific page.
Lakshmi Vilas Bank Commercial Vehicle Loan
This loan helps businesses in the Transportation, Agriculture and Civil Contracting sector buy brand new or pre-owned commercial vehicles in the Heavy Commercial Vehicle (HCV), Medium Commercial Vehicle (MCV), Light Commercial Vehicle (LCV), passenger vehicles, buses, road rollers, oil tankers, etc. for business use. The interest rate, repayment period, etc. are decided by the bank on a case-to-case basis.
Features of Lakshmi Commercial Vehicle Loan Scheme
Why this Loan?
- The Lakshmi Commercial Vehicle Loan is meant for Transport Operators to help them acquire funds for purchasing new commercial vehicles for their business
- The maximum loan amount sanctioned under this loan scheme is Rs. 1 crore for individual borrowers, Rs. 3 crore for proprietorship and partnership firms, and Rs. 15 crore for private limited companies
- The loan must be repaid within 6 years
Important Note: Even though the bank’s website has information available for few business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options which are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, etc. may be decided on a case-to-case basis.
Interest Rate for Lakshmi Vilas Bank Business Loans
- The interest rate for the Lakshmi Vilas Bank business loans is defined as the sum of one-year Marginal Cost of Funds based Lending Rate (MCLR) of the bank and Strategic Premium
- Strategic Premium is decided by the bank depending on various factors. Please get in touch with a bank representative for details
Eligibility for Lakshmi Vilas Bank Business Loans
- Individuals, Proprietors, Partnership Firms, Private Limited and Public Limited Companies can apply for these loans
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/ PAN Card Issue Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- For term loans: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- For Term Loans Only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security: Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- For term loans only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Reference Facts:
- Lakshmi Vilas Bank Website: www.lvbank.com
- Headquarters: Chennai, Tamil Nadu
- Call Centre Toll-Free Number: 1800 425 2233