Service Loan

BoB provides timely, long term financial assistance to service industries in the sectors of hospitality, entertainment, education, IT, tourism and the like. Both new as well as existing industries can avail this loan which is available at attractive rates.

Eligibility

Any Individual, Firm or Company

Quantum

60% to 75% of the Project Cost

Tenure

15 years maximum

Interest Rate

Product Floating Floating- 5yrs Reset Fixed Rate
Construction of Hotels & Restaurants 9.18% 10.36% 12.53%
Setup of Hotel/Resort/Restaurants 8.29% 10.04% 11.00%
Hospitality/Entertainment/Recreational 10.10% 11.19% 12.03%
IT related Business 8.49% 10.18% 11.00%
Setting up of Institutions (Schools/College etc) 8.49% 10.18% 11.00%
Service Working Capital 11.00%

Required Documents

  • Application requesting for finance

  • Copy of CID of the applicant

  • Project Report (For new units seeking finance)

  • Estimated B/s & P&L Account for next ten years

  • PIT / BIT assessment for individuals & Business units

  • Certificate of Incorporation issued by the ROC

  • Final / Audited Financial Statements- Balance sheet & P& L Account for last two years duly certified by the borrower/ chartered accountant (For existing business)

  • Working results of Sales / Purchases for the last 6 months

  • Latest stock position

  • Invoice of machineries/fixed assets to be purchased

  • Present borrowings and bankers details

  • Valid Trade Licenses

  • Statutory approval/Clearances from various Government Authorities/ Agencies wherever necessary

  • Drawings for the new projects