SE/ME Banking Products

Askari Business Solution

Askari Business Solution allows you to fulfill your short-term and long-term business needs from working capital-to-capital expenditure for business expansion, against residential, commercial/industrial properties/charge on assets of the company. The products offered under this facility are:

  • Running Finance

We offer a Running Finance facility to meet your day-to-day working capital needs. This is a revolving finance service with an availability period of 1 year, which is renewable. Markup is charged not on the sanctioned amount but on the utilized amount.

  • Term Finance

This loan satisfies long-term financing needs (expansion procurement of fixed assets) for businesses, and is available with flexible tenure and repayment options.

  • Trade Finance

Under Trade Finance, we offer financial services/facilities related to imports (LCs, finance against Imported Merchandise, financing against Trust Receipts) and exports (financing against Foreign/Local Bills, financing against Packing Credit, Foreign/Local Bills Purchase etc).

  • Bank Guarantee

We provide Bank Guarantees on behalf of our clients to various other entities such as the Government/corporate entities. We provide a range of guarantees such as a Performance Guarantee, Financial Guarantee, Advance Payment Guarantee, etc.
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Eligibility

  • Proprietorship/partnership and private limited companies under SE/ME category
  • At least 3 years of established business
  • In case of proprietorship, age of the client must be from 21 to 60 years. Age limit of 60 can be relaxed if successor’s personal guarantee is included in security structure
Ask Fund Facility
Ask Fund Facility offers Running Finance, while keeping your capital safe. This service can be availed against lien/pledge over units of the Sovereign Cash Fund, of Askari Investment Management Company.

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Features

  • Loan size: Up to Rs. 50M for individuals, SE/MEs
  • Minimum margin of 10% over and above the repurchase price of units of Askari Sovereign Cash Funds (ASCF)
  • Competitive markup rates
  • Markup to be paid on quarterly basis
  • Tenure of Loan is 1 year, subject to annual renewal
  • Standard processing procedures to reduce the time for approval of the facility

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Eligibility

      • Individuals/SEs/MEs having satisfactory borrowing track record with banks and clean ECIB report
      • Units of “Askari Sovereign Cash Funds” owned by the borrower him/herself will be accepted as collateral

Askari Lease Finance

Askari Lease Finance  will allow you to procure specific assets such as vehicles, machinery, solar equipment etc., without compromising your liquidity position. This product suits educational institutions/hospitals and companies, for procurement of required assets.
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Benefits

        Repayment on installments that suit your business cash flow

        • Repayment becomes easy as the acquired asset(s) itself generates or saves cash flow for its own repayment
        • Lease period of 3 to 5 years (Grace Period available on case-to-case basis)
        • Allows you to preserve working capital for meeting day-to-day operational expenses
        • Competitive markup rates Minimum down payment for:
        • Vehicles – 10%
        • Solar and other equipment – 30%
        • Machinery – 25%
        • Standard processing and loan disbursal procedure to ensure quick disposal of loan requests

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Eligibility

      • Proprietorship/partnership and private limited companies under SE/ME categories
      • At least 3 years of business establishment
      • In case of proprietorship, age of the client must be from 21 to 60 years. Age limit of 60 can be relaxed if successor’s personal guarantee is included in security structure
      • Additional collateral may be required depending upon the nature of business and leased asset

Askari Loan for Business Premises

Askari Loan for Business Premises. Dreaming of having an office space or warehouse for your business? Askari Bank offers a Term Loan for purchase/renovation/construction/expansion of business premises. The security against the facility will be the mortgage of urban property(ies) in commercial/industrial areas.
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Features

      • Loan size: For construction/purchase; minimum Rs. 1M and maximum Rs. 50M, whereas for renovation, loan size not to exceed Rs. 10M
      • Tenure of Loan is from 1 year to 10 years
      • Standard processing and loan disbursal procedure to ensure quick disposal of loan requests
      • Competitive markup rate
      • Debt/Equity: In case of purchase of constructed premises or purchase of land and then construction thereon, the borrower has to contribute 30% of the total cost. Contribution of 30% equity will not be required in case construction is to be carried out on owned land or for renovation of property (if value of land is 30% or more of total financed amount)

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Eligibility

      • Proprietorship/partnership and private limited companies under SE/ME categories
      • At least 3 years of established business
      • In case of proprietorships, age limit is between 21 to 60 years, subject to the condition that maximum age at the time of maturity of the loan does not exceed 60 years. Age limit of 60 can be relaxed if successor’s personal guarantee is included in security structure

Askari Loan for Fertilizer Dealers

Askari Loan for Fertilizer Dealers offers facilities such as Running Finance, Guarantees and Pledge Financing. These facilities will allow dealers to expand their businesses in addition to meeting their working capital requirements, against the mortgage of property.
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Features

      • Loan size: Rs. 0.5M to Rs. 100M (Maximum limit is as per SBP criteria for SMEs)
      • Tenure of Loan: 1 year, renewable on yearly basis
      • The availability of funds in-hand will enable dealers to grasp business opportunities by expanding their businesses
      • With a larger amount of funds in-hand, avail booking of fertilizers from companies at better profit margins, by availing cash and volume discounts
      • Competitive markup/commission rates

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Eligibility

      • Proprietorship/partnership and private limited companies under SE/ME categories
      • Must have a dealership of fertilizer companies
      • In business for at least 5 years with satisfactory track record/market reputation
      • In case of proprietorship, age of the client must be from 21 to 60 years. Age limit of 60 can be relaxed if successor’s personal guarantee is included in security structure

Askari Quick Finance

Askari Quick Finance offers you the opportunity to cater to your urgent personal requirements. The facility is offered against your personal savings, while keeping your savings intact. Under this umbrella, product facilities such as Running Finance and Term Finance can be availed within the shortest possible time with the lowest documentation requirement.
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Features

      • Avail up to 90% financing against National Saving Certificates (DSC’s, SSC’s & RIC’s) and local currency deposits. Financing equivalent of 80% of deposit, will be allowed in case of foreign currency deposits
      • Financing also available against deposits maintained with other reputed banks
      • No upper cap
      • Market competitive rates
      • Tenure of facility: 1 to 3 years
      • Quick/convenient loan process

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Eligibility

      • All individuals above the age of 18 years

Askari Vendor's Financing

Askari’s Vendor Financing This product is specifically designed for vendors of corporate entities/multinational companies to help manage their balance sheets in a better way. It ensures quick and reliable liquidity through the sale of invoices or accounts receivable.

Features

  • Ensures availability of continuing liquidity to meet short-term commitments
  • Receivables from pre-approved buyers will be purchased
  • Keeps businesses worry-free from loan repayment and payroll
  • Can meet seasonal demands
  • Enables you to focus on core business
  • Competitive markup rates
  • Tenure of up to 120 days

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Eligibility

      • Proprietorship/partnership and private limited companies under SE/ME categories
      • At least 3 years of business establishment
      • In case of proprietorship, age of the client must be from 21 to 60 years. Age limit of 60 can be relaxed if successor’s personal guarantee is included in security structure
      • Additional collateral may be required depending upon the nature of business and receivables