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Business Loan

  • Business Loan
    Business Loan: Business loan acts as fuel to meet day to day operations, working capital needs, expansion of business and trade related activities.
  • What are the loan tenure options for Business Loan?
    You can repay your loan over a period of 12 to 48 months
  • What security do I need to provide to obtain a Business loan?
    To obtain the loan, there is absolutely no need to provide any security or collateral. Its based on your business income Bank/NBFCs can provide the loan.
  • How much loan can I avail of Business Loan?
    You can avail of a loan from Rs 50,000/- to Rs 75,00,000/- depending on your income, repayment capacity.
  • How long will it take for me to get a Business Loan?
    Once you submit your application form and supporting documents, we shall give approval within 5 – 10 working days provided every document is in order. All loan approvals are at the sole discretion of the bank/ NBFCs
  • How do I repay my Business Loan?
    You pay the loan in equated monthly instalments. The loan will be paid through post-dated cheques, through Standing Instructions to debit your Bank account or Through ECS EMI amount.
  • Can I repay the loan earlier for Business Loan?
    Yes, you can choose to repay your loan any time after 6 months of taking the loan and after you have paid 06 EMIs along with applicable foreclosure charges. ( Pre-closer charges applicable for some banks/NBFCs )

Documents required

  • Application Form and Photo
  • ID Proof - PAN Card of Business as well as Partners/Directors
  • Sign Proof - PAN Card
  • Office Address Proof - Latest Land Line Telephone Bill/ postpaid mobile bill. (Not more than Two Months Old)
  • Residence Address Proof - Latest Land Line Telephone Bill (Not more than Two Months Old)/passport/Driving license/postpaid mobile bill.
  • Property Proof - Latest Electricity Bill/sale deed/water bill
  • Business Proof
    • Partnership Firm
      • Partnership Deed
      • VAT/Service Tax Registration Certificate
      • Proprietorship firm - VAT/Service Tax Registration Certificate
      • PVT Ltd Co. - VAT/Service Tax Registration Certificate, Co. PAN card, MOA, AOA, Incorporation Certificate and Director’s report.
  • Main Business Bank Statement for last 6 months
  • Loan Details
    • Home loan sanction Letter
    • Existing Loan Home loan repayment track for 12 month
    • Bank Statement from where EMIs are going
  • For proprietorship firm wife/brother/father/mother/son to be the co-applicant, so passport photo, ID proof and relationship proof of the co-applicant required
  • If some of these documents have already been given then kindly ignore those and provide the rest. Feel free to call for any queries.
  • Once the documents are ready, on your confirmation documents would be picked from your premises for processing by the Bank.