Looking for a Corporate Business Loan from Suryoday Small Finance Bank?

This page summarises the information you may need to make a sensible and sound decision

Business Loans from Suryoday Small Finance Bank

Being one of the small finance banks in India, Suryoday Small Finance Bank offers a range of business loans to different segments of its customer base. The bank offers specific business loan schemes that its corporate customers can use to raise funds to run the business smoothly. The bank also offers other financial products to its retail customers and other entities.

Some of the business loans offered by Suryoday Small Finance Bank are:

  • Small Business Loan
  • Loan Against Property
  • Overdraft – Secured and Unsecured Loan
  • Commercial Vehicle Loan
  • Joint Liability Group Loan

We give you a brief introduction to the business loan below.

Suryoday Small Finance Bank Small Business Loan

The bank offers term loan schemes to help small businesses such as grocery stores, hardware stores, ready-made garment shops, etc. to meet working capital or capital expenditure needs. Single owner enterprises with a monthly turnover of less than Rs. 5 lakh are eligible for this loan.

Features of Suryoday Small Finance Bank Small Business Loan

Why this Loan?

  • The Suryoday Small Finance Bank Small Business Loan is perfect for you if you run a small business and need funds to meet your working capital needs
  • The maximum loan amount sanctioned under this loan is Rs. 4 lakh
  • The rate of interest ranges from 20% to 25% pa in most cases

Suryoday Small Finance Bank Loan Against Property (for Business use)

Small business owners such as traders, retail store owners, garages, small manufacturing units, etc. can avail this loan against property to meet their business needs such as expansion of business, renovation of unit, salary payment to employees, acquisition of business assets, etc. This maximum loan amount sanctioned under this loan is Rs. 10 lakh


Features of Suryoday Small Finance Bank Loan Against Property

Why this Loan?

  • The Suryoday Small Finance Bank Loan Against Property is perfect for small businesses who need to raise funds to meet their working capital, business expansion and other needs
  • This loan must be repaid within 5 years
  • The interest rate ranges from 11% to 26%

Suryoday Small Finance Bank Overdraft for Businesses

The bank offers term loan schemes to help businesses that need funds to meet working capital or capital expenditure needs. Professionals, proprietors, partnerships, LLPs and private limited companies are eligible to avail this loan. The maximum overdraft allowed under this scheme is Rs. 5 crore.

Features of Suryoday Small Finance Bank Overdraft for Businesses

Why this Loan?


  • The Suryoday Small Finance Bank Overdraft for Business is perfect for you if you run a small business and need funds to meet your working capital needs
  • The bank offers unsecured Overdraft facility up to Rs. 5 lakh
  • The rate of interest ranges from 20% to 25% in most cases

Suryoday Small Finance Bank Commercial Vehicle Loan

This loan is specially designed for businesses in the transportation sector to raise funds for purchasing new as well as pre-owned vehicles for business use. This is a need-based loan.

Features of Suryoday Small Finance Bank Commercial Vehicle Loan

Why this Loan?

  • The Suryoday Small Finance Bank Commercial Vehicle Loan is perfect for businesses in the transport sector to buy vehicles for business
  • This is a need-based loan which means that the loan amount sanctioned depends on the needs and repayment capacity of the borrower in addition to other factors
  • The rate of interest varies from 20% to 25%

Suryoday Small Finance Bank Joint Liability Group Loan

Suryoday Small Finance Bank sanctions this as a group loan to 5 individual borrowers who take mutual guarantee of each other. The maximum loan amount is capped at Rs. 52,500. Females in the age group of 18 to 62 years are encouraged to form these groups and avail this loan for income-generation activities.

Features of Suryoday Small Finance Bank Joint Liability Group Loan

Why this Loan?

  • The loan is granted to 5 individual borrowers who take mutual guarantee of each other. The only condition is that the cash flow in the business of group members must be similar
  • The tenure of the Suryoday Small Finance Bank Joint Liability Group Loan is up to 2 years
  • The interest rate on this loan ranges from 18% for the Overdraft facility to the 20.51%-25.6% range for other loans

Important Note: Even though the bank’s website has information available for five business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options that 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

  • As of October 2020, the interest rate for the Suryoday Small Finance Bank business loans is mentioned on the bank’s website for a few loans
    • Small Business Loan: 20% to 25% pa
    • Loan Against Property: 11% to 26% pa
    • Overdraft – Secured and Unsecured Loan: 20% to 25%
    • Commercial Vehicle Loan: 20% to 25%
    • Joint Liability Group Loan: 18% for Overdraft facility; 20.51%-25.6% pa for others
  • For others, please check with the bank for more details

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

  • Suryoday Small Finance Bank Website: www.suryodaybank.com
  • Headquarters: Navi Mumbai, Maharashtra
  • Customer Care Toll-Free Number: 1800 266 7711