SDB bank | Business Savings Account

This scheme is introduced as a short-term loan facility designed specifically for eligible SDB POS machine customers who receive regular POS transactions inflows. The loan is intended to provide quick access to funds to meet urgent business requirements, ensuring customers have timely financial support to manage their short-term cash flow needs.

FEATURES

Working Capital Loan
Fixed Rate
Digitally Request the facility through U Pay
No Guarantors Required
Easy and convenient application process
Maximum loan amount up to 5,000,000
Loan protection cover
Repayment period 03 Months
Interest Rate will depend on Merchant Score card.

Eligibility criteria

All POS-related transaction settlements must be credited to an SDB Bank savings account maintained under the customer’s name or Business name.

The customer must have continuously used an SDB Bank-issued POS machine for six-month Period.
Customers whose monthly turnover reflects a standard deviation Below 50 (based on the last six months’ POS transaction data) will be eligible for this facility.
Proposals with a risk score Should be above 50%.
Customers who credit their POS transaction proceeds directly into their SDB Bank savings accounts.
Customers who currently route their POS proceed to other banks but are willing to open an SDB Bank account and transfer their ongoing cash flows to the bank as a condition of loan eligibility.
Companies and societies using POS machines eligible for the loan facility is required to submit their loan requests manually until the relevant feature is incorporated into the BIB system.

Required documents