Ezmyloans || Loans

LC Discounting

Banks offer LC discounting as a short-term option to help decrease applicable costs levied on exporter bill invoices by acquiring the exporter's bills or documentation after the required payment is made.

Essentials

Eligibility Criteria for LC Discounting

LC Discounting Eligibility Criteria are typically based on a variety of parameters such as the applicant's age, monthly wage or company income of co-applicant, and residency, among others.

Individuals must be between the ages of 22 and 65.
An excellent financial statement
Credit score of 750 or higher
Nationality – Indian resident

Documents Required

Individual

2 Photographs
PAN Card Copy
Aadhaar Card and Passport
Address Proof – If rented, also provide permanent address proof
Last 3 Years Form-16 and ITR with Computation of Income (if filed)
Last 1 Year Bank Statement – Salary Account
Loan Schedule and Sanction Letter (if any loan is running)
Complete Property Papers with Chain, Map, and ATS

Proprietary firm

Photographs (Both)
Clear PAN Card Copy – Proprietor
Address Proof – Proprietor (Passport, Voter ID Card)
Office Address Proof – Latest (Electricity Bill, Telephone Bill)
Firm Registration Certificates & GST Registration Copy
Last 1 Year GST Return Copy
Firm’s Last 3 Years ITR – Computation, Profit & Loss A/C, Balance Sheet, Tax Audit Report, All Schedules & Annexures
Provisional Financials for AY 2023–24
Bank Account Statements – Current Account, CC Account, OD Account (Last 1 Year Updated)

Partnership Firm LLP

Photographs of all Partners
PAN Card – Company and all Partners
Address Proof – All Partners (Passport, Voter ID Card, PAN, Aadhaar)
Firm Address Proof – Latest utility bill
Partnership Deed Copy
GST Certificate
GST Return – Last 1 Year
3 Years Company ITR, COI, Profit & Loss A/C, Balance Sheet, Audit Report (3CB & 3CD), all Annexures and Schedules – CA Certified
Provisional Financials for AY 2023–24
3 Years Individual ITRs and Computation – All Partners
Firm’s All Bank Account Statements – Last 1 Year Updated
All Partners’ Savings Account Statements – Last 6 Months
If any loan is running – Latest Sanction Letter and Track Record or Repayment Schedule
Property Papers – Complete Chain with Sanctioned Map

PVT LTD

All Directors’ Photographs
Clear PAN Card – Company and All Directors
Address Proof – Company and All Directors
List of Directors & Shareholders – CA Certified as on Date
Memorandum and Order in Hand (Complete Copy, if applicable)
GST, Sales Tax, VAT, and SSI Registration Certificates
GST Returns – Last 1 Year
All Directors’ Individual ITRs & Computation – Last 3 Years
Complete Financials – Last 3 Years with Tax Audit Report and Annexures
Provisional Financials for Last FY or Month-wise Sales Figures for Last 1 Year
All Company Bank Account Statements – Last 1 Year Updated
All Directors’ Savings Account Statements – Last 6 Months
If any Loan is Running – Latest Sanction Letter and Repayment Schedule
Property Papers – Complete Chain with Sanctioned Map