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Business Loan


About Business Loan

When you arrange to apply for a personal loan, EMI plays the foremost necessary issue. whether or not or not the EMI can slot in your monthly budget will facilitate decide your loan. {this is|this is often|this will be} wherever a personal loan EMI calculator can assist you. A loan calculator helps you get the subsequent results: Avail a business loan and use it towards daily capital expenses, managing capital gap, specific project funding and growth of the business as well as the acquisition of latest machinery. you'll be able to conjointly apply for a business loan if you wish capital to begin a replacement business or subsidiary units for your existing business. There are several banks & NBFCs that provide loans up to 1cr, with or while not collaterals and with pre-approved offers. the speed of interest applicable and tenure offered for the loan depends upon variety of things like your credit rating, the profitableness of the business, future growth potential, etc.

Grow your business with Business Loans from TheBharatLoan. we offer you with many choices in business loans from totally different banks and NBFCs. currently you'll be able to simply avail business loans through TheBharatLoan with none hassles. we tend to are invariably with you to assist build your business.

Features & Benefits

Avail the following benefits with just few clicks.
  • Loan amount starts from Rs. 50,000 onwards
  • Simple and easy documentation process
  • Tenure for business loans ranges from 12 months to 60 months
  • No collateral or guarantor required
  • Business loan interest rates vary from 13% to 35% and depend on the eligibility of the applicant and the quality of business

Eligibility & Documents Required

Establish your eligibility and obtain the funds to hassle-free. It depends on the bank and also the amount of risk they're able to combat a specific business. It also depends upon whether or not the loan is for an existing business or to begin a replacement one. There are several banks & NBFCs in India that supply loans for each little and massive businesses. obtaining approval & disbursal is feasible at intervals some days if you have got all the essential documents and you meet the eligibility criteria. Given below is that the list of eligibility criteria needed to use for a business loan in India.

Documents Required For Business Loan:

The common documents which are required for an online Business Loan approval are given below: Self Employed
  • Proof of Business - Shop and Establishment Certificate/ Vat Registration Certificate/ Service Tax Certificate.
  • Last 3 years IT tax returns with profit and loss account and balance sheet duly audited by CA.
  • Existing Loans’ Sanction letters accompanied with repayment track.
  • Business profile on the letterhead of the company.
  • ID/Age Proof - PAN Card/Passport/Signature Proof/Aadhar Card and Residence Proof – Passport/Utility bills/Bank Statements.
  • Cheque of Processing Fee.
Salaried Most banks follow the same general rules in terms of document requirement. There may be a few changes in certain cases, in which case, our loan officers will guide you personally to complete the documentation process. Salaried individuals.
  • Form 16 of last 2 years or Income Tax Returns.
  • Salary slips of last 3 months.
  • Last 6 months bank statement reflecting salary credits.
  • ID/ Age Proof - PAN Card/Passport/Signature Proof/Aadhar Card and Residence Proof – Passport/Utility bills/ Bank Statements.
  • Cheque of Processing Fee.
Partnership Firm
  • Age proof of all the partners in the form of PAN Card, Passport or Aadar Card.
  • PAN Card of the company.
  • Residence proof of all the partners – Utility Bills/Passport/Bank statement/Registered rent agreement.
  • Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/Service Tax Certificate.
  • Latest 3 years Income Tax returns with profit and loss and balance sheet duly audited by CA.
  • Latest 12 months bank statement of the Company and of the Partners’ Savings Bank Account.
  • Existing Loans' Sanction letters accompanied with repayment track.
  • Business profile on the letterhead of the company.
  • ID/ Age Proof - PAN Card/Passport/Signature Proof/Aadhar Card and Residence Proof – Passport/Utility bills/Bank Statements.
  • Cheque of Processing Fee.
Private Ltd Co
  • Application form duly filled with photographs of directors.
  • Age Proof of Directors - PAN Card, Aadhar Card, passport.
  • Residence Proof of Directors - Utility Bills/ Passport/Bank statement/ Registered rent agreement.
  • PAN Card of Company.
  • Education Qualification - A professional qualification certificate in case of Doctors/CA/Architects.
  • Proof of Business - Shop and Establishment Certificate/Vat Registration Certificate/Service Tax Certificate.
  • MOA, AOA, List Of Directors, Share Holding Pattern of the Company.
  • Last 3 years IT returns with Profit and Loss account and balance sheet duly audited by CA.
  • Latest 12 months bank statement of Company of all current accounts and the same for Director’s Savings Bank Account.
  • Existing Loans’ sanction letter with repayment track of company and Individual Directors.
  • Business Profile on the Letter Head of the Company.
  • ID/ Age Proof - PAN Card/ Passport/ Signature Proof/ Aadhar Card and Residence Proof – Passport/ Utility bills/ Bank Statements.
  • Cheque of Processing Fee.
Property
  • Occupancy Certificate.
  • Approved Plan of building.
  • Share certificate copy.
  • Past 13 years Chain of deeds.
  • Nil Encumbrance Certificate - EC (if applicable).
  • Current Sale agreement/ Draft Agreement to sell.
Eligibility Criteria Your eligibility for Business Loan is determined by the following factors:-
  • Income/ Other Income
  • Age
  • Qualification
  • Property value
  • No of dependents
  • Bank Balance
  • Assets/Liabilities

Business loan interest rate of Indian banks & processing fees

Bank Business Loan Interest Rates Processing Fee
SBI Business Loan 11.20% From 2% to 3%
HDFC Bank Business Loan 15.65% Starting from 0.99%, Max 2.50%
ICICI Bank Business Loan 16.49% Starting from 0.99%, Up to 2%
Citibank 16.00% Upto 2%
RBL Bank 20.00% 3% of loan amount
Tata Capital 18.00% From 1.50% to 2.50%
Lendingkart 18.00% 2% of loan amount
Bajaj Finserv 18.00% Upto 2% of loan amount
IDFC First Bank 22.00% 2.00%
IIFL 13.00% Up to 2%
Bank of Maharashtra 14.50% 1% of loan amount, Min Rs. 1,000
IndusInd Bank 14.00% 2.50%
Kotak Bank 16.00% Upto 2%
Fullerton India 16.00% 2%
Neogrowth 19.50% 2.5% of loan amount
IDBI Bank 13.00% 1%
Yes Bank 16.25% Up to 2%
Allahabad Bank 11.15% Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
PNB 12.65% 1.8% + taxes
OBC 11.40% 0.50% of Loan Amount
Indian Overseas Bank 14.90% Rs. 204 per lakh
Dhan Laxmi Bank 13.15%
DCB Bank 10.70% 2%
Andhra Bank 15.75% Case to Case
United Bank of India 13.00% 1.15%
Corporation Bank 13.55% 1.5%, Min Rs. 500
Syndicate Bank 12.65% 0.5%, Min Rs. 500
Bank of Baroda 14.10% Upto 1%
*Interest rates and processing fees are subject to change. Please visit the official site of the bank for updated info.