Eligibility Criteria for Dropline overdraft without security

The eligibility criteria are determined by a variety of elements such as the individual's age, payback history, business sales/turnover, total work experience, and creditworthiness, among others.

Criteria for Self-Employed Individuals' Eligibility

• Self-employed individuals must be between the ages of 24 and 65.
• The minimum income for the previous two years’ ITR should be 2.5 lakhs.
• Two to five years of business continuity is required.
• The business's turnover should range from 30 lakhs to 15 crores.

Criteria for Non-Employed Self-Employed Individuals

• Self-employed individuals must be between the ages of 24 and 65.
• For the last two years, the minimum cash profit should be 3 lakhs.
• The business's turnover should range from 30 lakhs to 15 crores.
• Two to five years of business continuity is required.

Documents Required

Individual

• Two Photographs
• Pan Card Copy
• Aadhar Card + Passport
• Address Proof If Rented Also Required Permanent Address Proof
• Last 3 Years Form -16, ITR With Computation Of Income If File
• Last 1 Year Bank Statement - Salary Account
• Loan Schedule & Sanction Letter (If Running)
• Complete Property Papers With Chain & Map +Ats
• Processing Fee Cheque In Favour Of the Bank
• Machine Quotation
• Order In Hand
• Last 3 Months Salary Slip + Appointment Letter

Prop firm

• Photograph Both
• Pan Card Clear Copy Proprietor
• Address Proof (Pass Port, Voter Id Card) Proprietor
• Office Address Proof Latest (Electricity Bill, Telephone Bill)
• Firm Registration Certificates & GST Registration Copy
• Last 1 Year GST Return Copy
• Firm 3 Years ITR Computation, Profit Loss A/C, Balance-Sheet, Tax Audit Report, All Scheduled & Annexure
• Provisional Financial Ay 2023-24
• Bank Accounts (Current Account, Cc Account, Od Account Last 1 Year Updated)
• 6 Month Saving Account Statement Updated (Proprietor)
• If Running Any Loan Please Provide a Sanction Letter And Repayment Scheduled
• Agreement To Sell Copy
• Property Papers With Chain Sanction Map

Partnership Firm LLP

• Photograph Partners
• Pan Card - Company, All Partners
• Address Proof - All Partners (Pass Port, Voter I Card,Pan , Adhaar)
• Firm Address Proof- Latest Any Utility Bill
• Partnership Deed Copy
• GST Certificate
• GST Return Last 1 Year
• 3 Year Company ITR Coi P/L A/C Balance sheet + Audit Report 3cb 3cd, All Annexures, Scheduled With C.A. Certified
• Provisional Financial Ay 2023-24
• 3 Year All Partner Individuals ITR + Computation
• Firm All A/C Bank Statement 1 Year Updated
• All Partner Saving A/C Statement 6 Month
• If Running Any Loan – Latest Sanction Letter + Track Records Or Repayment Scheduled
• Agreement To Sell Copy
• Property Papers Complete Chain With Map

PVT LTD

• All Director’s Photograph
• Clear Pan Card - Company And All Directors
• Address Proof – Company And Directors
• List Of Director & Share Holder With Ca Certified As On Date
• Memorandum Order In Hand And Complete Copy (If Applicable)
• GST, Sale, Vat, And Ssi Registration Certificate
• 1 Year GST Returns
• All Directors Individuals ITR & Computation Last 3 Years
• Last 3 Years Complete Financial With Tax Audit Report And Annexure
• Provisional Financial Fy 2023-24 Or Month Wise Sale Figure Last 1 Year
• Company All Bank Account Statement 1 Year Updated
• All Directors Saving A/C Statement 6 Month
• If Running Any Loan – The latest Sanction Letter And Repayment Scheduled
• Agreement To Sell Copy
• Property Papers Complete Chain With Sanction Map