Please Note: Abhyudaya Bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Businesses require a huge amount of investment of funds for either start-ups or to pay for business extensions. For this purpose, Abhyudaya Bank offers many long term and short term business loan schemes for the different levels of businesses. The business loan interest rate offered by Abhudaya Co-operative Bank is 11% p.a. onwards, depending upon the eligibility and criteria set.
Abhyudaya Co-operative Bank Business Loan
| Type of Loan facility | Rate of Interest
(%) p.a. |
| Cash Credit / DBD / SBD / Channel Credit / RCL facilities (Combined) & Secured Loans | 11.00 |
| a) Udyog Vikas Loan (With 100% Collateral Securities)
b) Udyog Vikas Loan (Less than 100% Collateral Securities) |
10.00
11.00 |
| Loans & Advances to Educational Institutions | 11.00 |
| Textile Manufacturers and Traders | 10.00 |
| Bill Discounting under L/C (Inland) (One Time/Limit)
a) Tenure of Bills upto 90 days b) Tenure of Bills above 90 days |
8.50
9.00 |
| Udupi Region Branches and Kankavali Branch.
Cash Credit & all types of Secured Loans:- a) Upto Rs. 100.00 Lakh b) Above Rs. 100.00 Lakh and upto Rs. 500.00 Lakh |
10.00
11.00 |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
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Features & Benefits
Abhyudaya Co-operative Bank provides the following:
- The main objective of the Abhyudaya Co-operative Bank business loan is to provide financial support for the new entrepreneur, as well as for the businesses looking for extensions
- The applying company can gain up to 75% of the project cost. 75% for new machinery and 50% for second-hand machinery with attractive interest rates
- Holiday periods are provided for a firm’s projects
- Industrial finance team set up by Abhyudaya Co-operative Bank to help and improve a company’s project
- Self-employed professionals can get customized loans based on their needs
- The applicants can repay with a maximum of 120 EMIs
- Prepayment options are available, but can be done after a certain period of EMI payment is completed
- Very low processing fee of 0.25% of the amount sanctioned and tax charges are applicable
- No hidden charges and a transparent process
Categories of Business loans from Abhyudaya Co-operative Bank
- Business Term Loan
- Cash Credit Limit/Working Capital Term Loan (WCTL) to Retailers ( Shopkeepers)
- Loan to Educational Institutes
- Loan to Professional Self-Employed
- Loans to Women Entrepreneurs
- Medium Term Corporate Loan
- Non- Fund based -Letter of Credit
- Revolving Credit Limit
- Short Term Corporate Loans
- Udyog Vikas Loan Scheme
- Working Capital Finance
Also Know: What are Mudra Loan Eligibility Criteria & Documents Required
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Documents required
The following are the required documents for the successful sanctioning of a business loan from Abhyudaya Co-operative bank
- Identity proof: Voter’s ID card, Driving Licence, Aadhar card, Employer’s card
- For residence proof: Aadhar card, Electricity bill, Telephone bill, Ration card
- Company’s history and profile and its promoters if any
- Bank statements for the last 12 months of all existing loans
- Sanction letter of an existing bank limit
Customer Care Number: 022-24115047, 24105097
Also Read: Loan for Business Without Security