Entrepreneurship is the buzzword and Saraswat Bank understands it better than anyone else. A loan designed for salaried employees to initiate a business. Easy and Hassle-free documentation guaranteed with a loan limit of Rs. 500 Lakh.


  1. The Property can be residential or commercial in nature
  2. Salaried/ Small traders/Retailers /Professionals/ Proprietary/ Partnership firms/ LLP as well as Private Limited Companies
  3. Salaried employees should be employed for atleast 2 years with a minimum net salary of Rs. 25000/-(for Metro branches)
  4. Salaried employees should be employed for atleast 2 years with a minimum net salary of Rs. 15000/-(OTHER than Metro branches)
  5. No exposure to builders/developers/ constructions activity or any other activity under CRE.
  6. Professionals should be practicing for at least 3 years

Limit of Loan:

  1. OD Limit: Max Rs. 150 lakhs

  1. Term Loan: Max. Limit Rs. 500 Lakhs


  1. 30% of the Realizable Value as per valuation done by Bank's approved valuer

Basis of Advance:

  1. Margin as stipulated 
  •             OR
  1. For Salaried Persons:
Upto 50 times of (avg of 3 months) net monthly salary.
  1. For Businessmen/Professional
20% of the gross sales turnover (avg of last 3 years or latest audited gross sales turnover with justification)
6 times of gross Cash accruals. (avg of last 3 years or Existing Borrower with good track record for 1 year -latest audited gross cash accrual) depending on the activity of the borrower

Repayment Period:

  1. Revolving line of credit, OR, for salaried class borrower monthly reduction limit preferably be stipulated based on repayment capacity.
  2.  Term Loan with maximum repayment period of 12 years.
  3.  Loan tenure should not exceed residual service period.
  4.  In case of resale of old property/property taken as security, loan tenure should not exceed residual life of the property as per valuation report.

Prepayment Charges -
  1. For non-Individual (pre-closure for availing loan from other bank) - 2% on outstanding balance of term loan  or  drawing power of OD a/c
  2. and If paid through own sources - NIL
  3. For Individual - NIL

Rate of Interest:

  1. Rate of Interest: Floating PLR – 5.75 = 9.75%* p.a
  2. Present PLR  @15.50% p.a. (w.e.f -13.02.2023)

Processing Fee: 

25% discount on processing fee

Commitment charges:

1% p.a. on un availed portion for loans above Rs. 50 lakh (minimum utilization of 80% required)


  1. 2.50% of loan amount, Maximum Rs. 25000/-


  1. By way of Mortgage (Legal / Equitable) of residential or commercial property
  2. The property should be owned by the Applicant or spouse
  3. In case of Private limited company:

  1. Property without OC may be considered provided the applicant is in possession of the property for a minimum period of 3 years and Architect has certified the plan verification.

Spouse guarantee:

  1. In case of Pvt Ltd company: Personal guarantee as per resolution.
  2. In case of Partnerships firms and LLP : Personal guarantee of all the partners.


  1. Prescribed loan application form (Duly Filled)
  2. Photograph, Photo ID & Residence Proof of the Applicant & Guarantor
  3. For salaried person, copies of:

  1. Salary slips for last 3 months or ITR/Form 16 for last 2 years 
  2. Bank account statement

  1. For businessman / professional, copies of:

  1. Last three years audited profit & loss account and balance sheet, ITR with computation of income for last 3 years.
  2. Bank account statement for last 3 months.

Documents for creating mortgage as per list provided by Bank.

Conditions Apply*

Combo offer for KWIK LAP loan customers:

Pre-sanctioned Credit Card for all new applicants of KWIK LAP

Share holding norms -
i) upto Rs 1 lakh: Rs. 100/- nominal membership
ii) above Rs 1 lakh: Rs. 500/- shareholding

Combo offer for Kwik Lap customers: Pre-sanction Credit Card based on repayment capacity of Borrower subject to max limit of Rs. 5.00 Lacs