My father is looking for the details of the Asset Backed Loan scheme of the State bank of India. so will you please give me the details of the Asset Backed Loan scheme of the State bank of India? I would also like to know Bout the Consumer complaints and reviews about this scheme? Give me the details soon?

Feel free I will let you know information of State Bank Of India, Asset Backed Loan so that you can get idea easily.

Loan Features
Loan upto 60% of the value of property (LTV) for upto 10 crore and LTV may be reduced to 50% if loan amount goes above 10 crore upto 20 crore.

Drop-line overdraft facility.

SME Insta-Deposit Card and SBI Business Debit Card free of cost.

Free Cash pick up facility

Moratorium period will be available, provided maximum tenor does not exceed 96months.

2% of the limit will be charged as pre-payment penalty.

Earnings Credit Rate (ECR) will be considered only for loan sanctioning above Rs. 10 Crores.

Only 1% penalty charged on the entire outstanding if overdue more than 30 days.

SBI Asset Backed Loan (SBI ABL) can be availed to all business who engaged in manufacturing and service activities covered under MSMED Act 2006, wholesale / retail trade and Professional & Self employed.

Repayment period is 96 months. However, based on requirement the limit may be restored to original limit.

Processing / upfront fee of 1% of the limits will be collected at the time of sanction, subject to a maximum of Rs.5 lakhs.

Loan can be sanctioned by way of takeover from other banks.

Documents required
If Partnership Firm: Partnership deed

If Trust: Trust deed

If Society: By laws of Society, Registration Certificate from the Registrar of Societies

If Private Ltd. Company: Certificate of Incorporation / memorandum and Articles of Association

If Public Ltd. Company: Certificate of Incorporation / Memorandum and Articles of Association, Certificate of commencement of business.

Audited balance sheet of the last three year.

Brief detail of Proprietor / Partners / Promoters / Directors.

KYC documents for promoters / units

Copy of IT Returns of promoters / Firm for the last three years.

Copies of license, permission approval by regulatory authority, where applicable

Availability of utilities like power etc.

Pollution control clearance, if necessary.

Details of collateral security (including third party guarantee proposed to be offered.

Signed statement of Assets and liability from proprietor / partner guarantors.

Copies of other Bank’s sanction letter and statement of accounts (last 6 months).

Copy of the title deeds of the Factory / Shop/ Godown/ collateral security.

Details of the capital expenditure, if Term Loan is applied.

Cheque for processing and fees to be paid for Valuation & Title search reports on property(ies) offered as collateral, ROC search (for companies).

Address:-
State Bank Of India
3rd Floor, G Block, Synergy Buidling, Bandra Kurla Complex-Bandra East, Mumbai - 400051, Behind National Stock Exchange

Phone:-
+(91)-80-26599990
18004253800,1800112211