ING Vysya Bank Business Loan

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About ING Vysya Bank Business Loan

ING Vysya bank is a private owned and Indian multinational bank with its headquarters in Bangalore. Its operations include retail, wholesale and banking platforms. This bank purchased an equity stake in Vysya bank by Dutch ING Group.
ING Vysya Bank provides loans for Business startups, SME Loans and self-employed people running Software companies, IT sector, Traders, Manufacturers, Machinery, Equipment and many more.

ING Vysya Bank Business Loan Interest Rates:

Minimum Amount Maximum Amount Guarantee Fee Annual Service Fee
Rs 50,000 Rs 25 lakhs 2.5 % of credit facility 1.1 % of credit facility

Features of ING Vysya Bank Business Loan

  1. Simplified documentation.
  2. Life and Non Life Insurance coverage.
  3. Personalized attention from trained relationship managers.
  4. At par cheques collections.

Eligibility for ING Vysya Bank Business Loan

ING Vysya Bank Business Loan

Self Employed People are eligible for availaing Business Finance. Here is the eligibility criteria for these indivdiuals:

  1. Minimum Loan amount available: Rs. 50,000
  2. Maximum loan amount available: Rs. 2,00,00,000
  3. Minimum Income (annual):Rs. 1, 50,000
  4. Minimum age: 21 Years & Maximum Age at loan maturity: 65 Years
  5. Minimum Turnover in Business: Rs 40 Lacs per annum
  6. Minimum Experience in Business: Minimum 3 years experience in the current business and total 5 years business experience. Business must be continuously making a profit from last 2 years.
  7. Business should be filling 2.5 lacs to 3.5 Lacs ITR per annum.

Documentation for ING Vysya Bank Business Loan

  1. Identity Proof (Passport Copy/ Voters ID Card/ Driving License)
  2. Proof of Address (Ration Card/ Telephone Bill/ /Electricity Bill/ Passport)
  3. Bank Statements (latest 6 months bank statement /passbook)
  4. Latest ITR, along with computation of income
  5. Balance Sheet & P&L Account for the last 2 Yrs, certified by a CA
  6. Qualification Proof of the Highest Professional Degree
  7. Proof of Continuation (Trade license /Establishment /Sales Tax Certificate)
  8. Other Mandatory Documents (Sole Proprietorship – Declaration, Partnership – Copy of Partnership Deed, Apart from Copy of MOA, AOA & Board Resolution)
  9. Two passport size photographs

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