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BUSINESS LOAN

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A loan helps traders, businessmen and professionals to start or expand their commercial activities. It is a collateral free loan.

Purpose

Working Capital Requirement, Purchasing of fixed assets, capacity expansion / Modernization, Technology up – gradation, Research and Development or any other short term requirement.

Repayment Term

Business Loan can be sanctioned for a fixed Term ( 12 – 36 Months)

Fees & Charges

Normally lender charges a fee of up to 2 % of loan amount towards the processing of loan. The lender may charge you a penalty for early closure of loan.
  • Loan amount from 5 lacs toRs. 1 Crore
  • Convenient loan repayment option of 12 months to 36 Months
  • No security or collateral required to avail this loan
  • Minimal documentation and faster approvals
  • Attractive interest rates


  • Business Loans can be availed by self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies)
  • Applicant’s age should be minimum 24 years at the time of application and maximum 65 years at loan maturity.
  • Minimum 3 to 5 years of experience required in the same line of business. For self-employed professionals, minimum 4 years of post-qualification experience is required.
  • Minimum business turnover required is Rs. 1 Crore and for Professional / Service Sector, applicant’s gross receipts should be at least Rs. 60 Lakhs.
  • Applicant must own either residence or office in his name or jointly with family members or resides in a residence owned by an immediate family member.


For Self-Employed

  • PAN Card and Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  • PAN card, Partnership deed/ MOA, (for Partnership firm & Pvt. Ltd Company)
  • Latest audited ITR and financials for the last 3 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
  • Bank statements from the borrower's all account/s for last 6 months

For Self-Employed Professionals

  • PAN Card and Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or SaleAgreement / Bank Statement)
  • Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
Bank statements from the borrower's all account/s for last 6 months
  • Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.)

Note : applicant is mandatory for all loans. Further documents may require after perusal of all documents. Terms & Conditions apply at the sole discretion of respective financial institution.

You pay the loan in equated monthly installments. The loan will be paid through post-dated cheques or through Standing Instructions to debit your account with the EMI amount.
To obtain the loan, there is absolutely no need to provide any security or collateral.
A processing fee of a maximum of 2% of the loan amount (plus Service Tax at the prevailing rate) is required to be paid. This fee will be deducted from the Loan amount at the time of the disbursal of your loan.
No foreclosure is allowed before the loan has completed 6 months. However, you can prepay the business loan after having paid 6 EMIs with applicable foreclosure charges (plus Service Tax at the prevailing rate).
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