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Lakshmi Vilas Bank Business Loan

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Updated: 16-12-2022 10:48:07 AM

Please Note: Lakshmi Vilas, (Now, DBS Bank) is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.

With effect from 25 Nov 2020, Lakshmi Vilas Bank has been merged with DBS Bank.

Lakshmi Vilas Bank is a scheduled commercial bank that caters to the financial needs of people. The bank offers MSME loan to the following entities:

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Apply for Business Loan @ low interest rate Apply Now

Interest Rates offered by Lakshmi Vilas Bank
Types of MSME Loans
Documents Required
FAQs

Interest Rates offered by Lakshmi Vilas Bank

Interest Rates

  • Loans to MFIs for lending to Small Enterprises: 10.90% p.a. onwards
  • Loans to Medium Enterprises: 10.75% p.a. onwards (Working Capital)
  • Loans under PMEGP: 12.75% p.a. onwards
  • Lakshmi Rental Loan: 11.75% p.a. onwards
  • Lakshmi Commercial Vehicle Loan: 11.25% p.a. onwards
  • Lakshmi Small Business Loan: 14% p.a. onwards
  • Loans to Food and Agro-Based Processing Units: 10.75% p.a. onwards

Types of MSME Loans

 

                                                        Lakshmi Vilas Bank – Business Term Loan 
Interest Rate As per business requirements
Age Limit Max. up to 70 years at time of loan maturity
Min. Loan Amount Rs. 25 lakh
Max. Loan Amount Rs. 5 crore
Repayment Tenure 120 months

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.

                                                             Lakshmi Vilas Bank – Business Credit Loan
Interest Rate As per business requirements
Min. Loan Amount Rs. 25 lakh
Max. Loan Amount Rs. 5 crore
Limit Operative Account with fixed overdraft limit
Renewable After 1 year
Monthly stock statements and DP maintenance Not required
Business Existence Min. 3 years

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.

                                                         Lakshmi Vilas Bank – Cash Credit Loan
Interest Rate As per bank’s lending policy
Nature of loan Open Cash Credit (OCC)
Repayment Tenure Account to be renewed every year
Margin 25% on Stocks and 50% on Receivables
Collateral Required, charged on Fixed Assets equal to the loan amount of the company
Availed by Existing Customers
Security Hypothecation of Current Assets covered by finance

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.

In addition to the above-mentioned MSME loans, Lakshmi Vilas Bank also offers various other MSME loans that include Kissan Credit Card, Agriculture Term Loan, Commercial Vehicle loan, Lakshmi Rental Loan and Export Credit loan.

Documents Required

  • Duly Filled Application form
  • Passport-sized photographs
  • GST returns
  • Estimated & Projected Financial Statements
  • KYC documents of Applicant, Guarantors and Promoters
  • Last 2 years’ Audited Financials
  • Funds Flow/Cash Flow statements, Profitability estimates & DSCR calculations
  • All Registrations/Approvals of the company/enterprise
  • Collateral property documents
  • Additional documents as per requirements

FAQs

Can I avail MUDRA loan from Lakshmi Vilas Bank?

Yes, you can avail MUDRA loan under PMMY from Lakshmi Vilas Bank at competitive interest rates

What is the interest rate offered for Small Business Loan by Lakshmi Vilas Bank?

The minimum interest rate offered by the bank for small business loan is 14% onwards.

What is the maximum loan amount offered by the bank?

The bank offers maximum loan amount up to Rs. 5 crore.

How much loan amount can I get under CGTMSE scheme offered by Lakshmi Vilas Bank?

The maximum loan amount offered under CGTMSE scheme is Rs. 1 crore.

What is the minimum business tenure required to be eligible to get business loans?

At least 3 years of business existence is required to be eligible to get business loans.

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