Business Loan
Low-interest business loan How to get low interest rates business loan First, don’t make late payments on any loan amount, and maintain your credit score of 750+.
Business Loan Requirement
Business loan for Business expansion we could use for expansion of our business.
Benefites of Business Loan
It is an Unsecured Loan, a Collateral Free Business Loan.
Use working capital.
Loan tenure up to 5 years.
Eligibility of Business Loan-
Business latest 1year old.
Credit score should be 680+
Age criteria- 21 to 55 year.
Best Business Loan City Wise
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Business Loan Fees and Charges
Processing Fees- Online Business loan processing fees start at 2% to 6% of the loan amount and insurance charges.
Foreclosure Fees/Charges – As pr 13 months to 48 months at 3% to 7% of principal due amount and as pr lender policy.
Late Payment Charges – As per Lenders’ norms and on the overdue principal or EMI – 3% to 4%.
Business Loan Interest Rates
| BANKS | INTEREST RATES | PROCESSING FEES | |
|---|---|---|---|
| IIFL Business Loan | HStart 13%* p.a- 44%*p.a | Up to 2% TO 6%+ other charges. Pre payment /foreclosure charges-4-7% of the outstanding loan amount together with applicable tax. |
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| Aditya Birla Business Loan | Start -20%* p.a.-28.00%p.a | Up to -3% onwards. Prepayment/foreclosure-4% to 7%.and as per lander +tas. |
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Documentations of Business Loan
Address Proof- Aadhar card, passport, Driving License, Telephone Bill, Ration Card, voter I.D.- card, utility bill.
Age Proof- PAN CARD, voter ID, Birth certificate, SSC certificate, Aadhar card, etc.
I.D. Proof- Aadhar card, passport, Driving License, Telephone Bill, Ration Card, voter I.D., etc.
Income Proof- I.T. Returns for the last three years, with p/L account, balance sheet,
– Computation of income – 2 years.
– Challans proof of advance income Tax payment.
– Proof of business of address, c/a bank statement.
– G.S.T. Registration/ Firm P.A.N. number/26as.
Business Loan Landers /Partners
HDFC Bank Business Loan || ICICI Bank Business Loan || Yes Bank Business Loan || Axis Bank Business Loan || Tata Capital Business Loan || Fultroan Bausiness || L&T Business Loan || IIFL Business Loan.
Applicant Eligibility for Business Loan
To apply for a personal loan, the applicant’s age should be 21 years.
No overdue on any loan or credit card.
Applicant’s credit score should be a minimum of 720 and above.