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Get Business Loan up to ₹2 Cr

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Product Detail

  • Are you planning to have more working capital to expand your business?
  • Do you want to expand your business within this year?
  • Or do you want to buy some more machinery?
  • Are you just thinking of boosting production with ease?
  • Do you need money to double your business growth?

 

If you are stuck in any of the situations mentioned above, then you need a ‘Business Loan.’

 

A business loan is a sum of money that you require for various purposes as mentioned above to boost your business growth.


For example, you can pay off vendor bills, capital expansion invoices, labour hiring costs, or any other bill through this loan amount. Banks, NBFCs, and other online lenders offer you a certain period to pay off the loan as per your requirements.

 

Benefits of Fresh Business Loans

  1. Apply for loans up to ₹2 crore
  2. Minimal documentation required
  3. Compare & Apply from 20+ banks and NBFCs
  4. Get the lowest interest rate
  5. Repay the loan in 60 months
  6. No collateral or physical security required
  7. Money credited in your account within 24 hours

Eligibility

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Who can apply:

·       🏢 Minimum 2 years business existence

·       📈 Credit score - 700 or above

·       🧾 One ownership is mandatory
(residence or office)

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Age:

  • Above 23 years and below 58 years

Required Documents

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Identity Proof

    Any of the following

    ·       Passport

    ·       Voter ID

    ·       Driving License

    ·       Pan card (Mandatory)

    ·       Aadhar Card (Mandatory)

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Address Proof

    Any of the following

    • Piped Gas Bill
    • Electricity Bill
    • Domicile Certificate
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Other Docs

  • Current A/C Bank Statement (Last 1 Year)
  • Income Tax Returns (Last 2 Years)
  • Proof of Office Address
  • Proof of Business Existence
  • GST Registration Certificate
  • Proof of Residence or Office Ownership

Example

For example, if Megha, owner of a Surat-based clothing brand, applies for a business loan of INR 30 Lacs and gets the loan sanctioned at the rate of 15.99% with a tenure range of 4 years, in such a case her EMI would be INR 85,005. The repayment amount till the end of the 4-year tenure would be INR 40,80,263 (i.e., ₹85,005 EMI/month for 48 months). 

 

In such a case, the total interest amount will be INR 10,80,263, along with a principal repayment of INR 30,00,000. Megha will also have to pay ₹60,000 as a one-time processing fee (charged at 2%). Secondly, she will also pay ₹500 as stamp duty charges. T&C applied.

 

The repayment period for business loans ranges between 1 and 5 years. Depending on the applicant’s financial records and credit score, a business loan’s annual percentage rate (APR) can vary from 14.99% to 24%.

 

Repayment Period

Minimum 1 year to Maximum 5 years

Annual Percentage Rate (APR)

Minimum 14.99 % to Maximum 24%

Processing Fees

1% to 2%

Stamp Duty Charges

Rs. 500

 

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