Looking for Loans Against Commercial And Residential Properties for MSME Businesses from IDBI Bank?

Get all the information you need on the IDBI MSME Loan Against Property below.

IDBI Loan SME Against Commercial and Residential Properties

This loan helps business owners raise capital towards expanding their business by availing a loan against property. The maximum loan amount sanctioned under this loan is Rs. 5 crore.

Features of IDBI Bank MSME Loan Against Property

Why this Loan?

  • The IDBI Loan SME Against Commercial and Residential Property is perfect for businesses in the Micro and Small Enterprise sector to get access to funds for business growth and expansion-related activities
  • The term loan must be repaid within 7 years. If the borrower avails the Overdraft Facility, the loan must be repaid within 12 months

Loan Amount

  • The maximum loan amount to be sanctioned under this loan scheme is Rs. 5 crore

Interest

  • The interest rate for the IDBI Bank Loan Against Property is directly linked to the Marginal Cost of Funds based Lending Rate (MCLR). As of now, more details on the applicable interest rate on this loan scheme are not available. We suggest getting in touch with the bank for details

Repayment

  • Term Loan: This loan must be repaid within 7 years as EMIs.
  • Overdraft (OD): It must be repaid within 12 months

Security

  • The bank asks for equitable mortgage or registered mortgage of residential or commercial property as security for this loan

Eligibility

  • Sole proprietors, partnership firms, Limited Liability Partnerships (LLPs), Public Limited Companies and Private Limited Companies are eligible for this loan
  • This loan cannot be availed for speculative purposes

Borrower’s Contribution to Total Cost (Margin Money)

  • This information is not yet available on the bank’s website. Please get in touch with your nearest bank branch to get these details

Processing Charges

  • The bank levies up to 1% of the total loan amount as processing charges for this loan

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

  • IDBI Bank Website: www.idbibank.in and www.inet.idbibank.co.in (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 209 4324, 1800 22 1070