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Challan Discounting Eligibility

Who can apply?

Who can apply?

Any registered business entity

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Nature of Business

All businesses

Age

Age

18 to 60*
(The applicant should not be older than 60 years at the end of the loan tenure)

Minimum years in Business- 3 years

Work Status

A minimum of six months of work stability is required

Documents Required

With Shriram, you can get Challan Discounting Finance by providing us with the following documents

Photo Identity

Photo Identity Proof

Aadhaar Card, Passport, Driving License or Voter ID along with the latest passport-size photographs.

Eligibility PAN

Address Proof Document

Aadhaar Card, Passport, Driving License, Gas Connection Card, Water Bill, Electricity Bill, Prepaid Mobile Bill, Telephone Bill or Voter ID.

Money pack

Income Proof Document

Last three month's bank statement or salary slips, Income Tax Returns (ITR), Audited company accounts of last financial year or cash flow statement.

Money Disbursement

Asset Related Documents (Pre-Sanction)

Pro Forma invoice and margin money receipt for a new asset, sale deed for used asset purchase, valuation report in case of the used asset or registration certificate for the used asset, original invoice for a non-registrable asset or comprehensive insurance policy.

Money Disbursement

Asset Related Documents (Post-Disbursement)

Original invoice for the new asset with hypothecation in favour of the company, registration certificate and hypothecation in favour of the company or insurance policy hypothecation in favour of the company.

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FAQs

What is the repayment period in case of bill discounting?

The replayment tenure is up to 12 months

Easy & Quick Disbursals on Challan Discounting