Canara Bank Business Loan in Purnea, Bihar

Avyud Finance offers business loan through Canara Bank to SMEs and MSMEs to accelerate their business and give new heights. The bank provides various business loan schemes to serve different business requirements. The customer can avail of a loan of up to₹10 crores for the highest tenure of 7 years.

Canara Bank Business Loan Important Information

• Purchase of a ready built house / flat.


• Construction of house / flat.


• For taking over of housing loans from other finance companies / financial institutions/ Banks


• Loans for purchase of flats under construction can also be considered.


• To provide Home Loans to Corporate Entities (Public & Pvt Ltd Companies, Partnership Firms including LLPs) for construction/ acquisition of Residential Units in the name of the Company for use by their Directors/ Promoters and their Employees.


• Land purchase is not eligible in this product, hence only construction on own land is permitted.

Eligibility Criteria for Canara Bank Business Loan

• All the partnership firms, Private Limited and Limited companies having satisfactory track record of atleast three years with us.


• The firm/ company must be profit earning unit in the last three years and should not have accumulated losses in the last three years.


• Existing loan account of the Company, if any, should be regular and standard and also should not have been restructured during the last three years.


• SPV/ Subsidiary of Corporate Entities will also be eligible for availing loan under this Scheme provided.


• Only External Risk Rating (ECR) to be conducted and ‘A’ rated and above corporates with three years satisfactory dealings with us are eligible under the scheme.

Documents Required for Canara Bank Business Loan

• Stipulated Loan Application with 2 passport size photos of applicant / guarantor


• Agreement for Sale


• Copy of the approved plan for the proposed construction / extension / addition


• Detailed cost estimate / valuation report from Banks Panel Chartered Engineer / Architect


• Allotment letter of Co-operative Housing Society / Apartment Owners Association / Housing Board / NOC from the Society / Association / Builders / Housing Board


• Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary


• Salary Certificate and Form No.16 (in case of salaried persons)


• IT Returns filed for the past three assessment years (in case of non-salaried persons)


• A brief note on the nature of business, year of establishment, type of organization, etc., (in case of self-employed)
• Balance Sheet and P&L Account for the past three years (in case of self-employed)

Fees & Charges for Canara Bank Business Loan

• 0.50% of the Loan amount (Minimum of Rs 1,500 and Maximum of Rs 10,000).