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| Highlights of ABFL Business loans | |
| Interest Rate | As per the applicants credit profile |
| Loan Amount | Up to Rs 25 Crore |
| Tenure | 3 months to 12 years |
Rates as of 7th June 2024
Aditya Birla Finance Limited Business Loan Fees and Charges
| Particular’s | Charges |
| Cheque Return charges ` | 1000 + GST per instance |
| Default Penal charges | 3% of pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | `100 + GST per instance |
| Charge for Exchanging PDCs / ECS ` | 750 + GST per instance |
| Loan re – schedule charges ` | 7500 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Pre – closure Quote | `2500 + GST per instance |
| Any other charges | As per Actual if applicable |
| Part – Pre Payment Charges | Charges: 4% + GST on Remaining Loan amount |
| Conditions:
A) No pre – payment is allowed in first 6 months from the date of disbursement B) Part – Payment amount should be equal to OR greater than total of 3 EMIs. C) In the first year of loan tenure, part-prepayment is allowed only once. |
|
| Foreclosure Charges
|
Charges:
4% of the Principal outstanding amount + GST |
| Condition:
Foreclosure is allowed only after 12 months from the date of loan disbursal. |
Types of Aditya Birla Finance limited business loans-
Aditya Birla wSecured Business Loan
- Purpose- Individuals/ Businesses can avail ABFL Secured Business Loan against collateral to finance various business requirements like business expansion, purchasing new premises, importing equipment, hiring skilled workforce, etc.
- Loan Amount- Minimum Rs 1 crore to Maximum Rs 25 crores
- Loan tenure- 3 months to 12 years
Aditya Birla Line of Credit
- Purpose- Individuals or businesses can avail ABFL Line of Credit facility, wherein a credit limit is sanctioned to the borrower to meet their frequent and/or short-term fund shortages. The borrower can make withdrawals from the credit limit as per their requirements and make repayments as and when they have surpluses. The interest is charged only on the drawn amount(s), not on the entire sanctioned limit, and till their repayments(s).
Aditya Birla Working Capital Demand Loan
- Purpose- Individuals/Businesses can avail ABFL Working Capital Loans to meet their working capital requirements.
Aditya Birla Supply Chain Financing Solutions – Invoice Discounting
- Purpose- ABFL Supply Chain Financing Solutions — Invoice Discounting allows individuals/businesses to raise finance by discounting the sales bills of their vendors or by discounting their purchase bills. ABFL also provides bill discounting facility backed by Letter of Credit (LCBD).
- Loan tenure- 3 months to 12 years
Aditya Birla Unsecured Business Loan
- Purpose- Individuals/ Businesses can avail ABFL Unsecured loans to finance the business requirements without any collateral.
- Loan Amount – Up to Rs 1 Crore
- Loan tenure- 12 months to 48 months
Eligibility Criteria for ABFL Business Loan
Businesses operating in sole Proprietorship, Partnership, Public, and Private Limited Companies are eligible to avail ABFL business loans. However, the lender has not published any details regarding the eligibility conditions related to business vintage, business turnover, minimum annual income, profit history, credit score/ credit rating net worth and audited financial statements.
Documentation required for ABFL Business loan
- Audited Financials for Last 3 years
- CMA data for Current FY and Future Financial Years with company signatory – Only in case of Corporate Loan
- Projected Turnover on Company Letterhead
- Provisional Financials (Balance Sheet and Profit & Loss Statement) for Last FY with Schedules
- ITR returns for Company and ITR Returns for Promoters along with Statement showing
- Computation of Income of the Promoters with Acknowledgement from IT Department
- Bank Statement for the Last 180 days
- Analysis of Debtor (More than 6 months outstanding)
- Tax Audit Reports for Last 3 years
- Details of Existing Bank Borrowings – from Banks as well as FIs., Overdue,Repayment Schedule,Indicate Limit, Outstanding since when Overdue, Securities, Guarantees etc. and whether the Credit Limits are under sole Banking or Multiple Banking Arrangement
- RTR to be given for all Term Loans, Car and other Loans availed by the Company
- RTR to be taken for Loans greater than ` 5 Lakhs in the name of the Promoters (only to be taken if no Loan has been taken by the Borrower Entity)
- Profile of the Company
- Product Profile
- Copies of Sanction Letters from all Banks and Institutions for Secured as well as Unsecured Loans
- List of Property Document held with the Existing Banker / Copy of MOE
- Memorandum of Association and Articles of Association/Registered Partnership Deed
- PAN Card of Company
- Address Proof of Company – Light Bill, Telephone Bill
- (a) Certificate of Incorporation (b) Shop Establishment License, (c) Trade License (any one of them)
- Latest Form 20B
- Address Proof, PAN Card– Light Bill, Passport Copy, Telephone Bill
- Bio data/ profiles of Directors