Welcome to Business Loan Bangalore, we offer business loan at less rate of interest in Bangalore. If you are looking for Business Loan in Bangalore, then you are at the right place. For the business entrepreneurs of Bangalore, Personal Loan Bangalore brings to you the best services in Business Loan
Business loan is availed by individuals who need funds to start a new business or require working capital for the existing business. All major banks like HDFC Bank, ICICI Bank, Standard Chartered Bank, Axis bank, Yes Bank, Citibank offer business loan. Individuals can avail secured or unsecured business loan depending on their requirements and repayment capacity.
We at business Loan Bangalore have joined with all major banks in Bangalore to provide easy and quick business loan at best interest rates.
Any entrepreneur with a legitimate business with reasonable earnings can apply for a business loan. The banks mainly decide on the amount to be given on the basis of following criteria:
|Bank||Loan amount||Rate of interest||Processing fee||Prepayment charges|
|HDFC Bank||Up to Rs.15 lakhs ( up to Rs.40 lakhs in selected locations)||17% to 22%||Up to 2.50% of the loan amount subject to a minimum of Rs.1,000/- & maximum of Rs.75,000/-||4% for 7-24 months
2% for 25-36 months
Nil for >36 months
|ICICI Bank|| ||14% to 20%||Up to 2% of the loan amount. Rs. 5000/- is collected upfront||Up to 2% of the loan amount|
|Bajaj Finserv||Rs.8 Lakhs to Rs. 30 lakhs|| ||2% of the loan amount||Nil|
|Standard Chartered Bank||Up to Rs. 75 lakhs||12% to 12.50%|| ||5% of the outstanding loan amount|
Managing a business is not easy. From balancing the accounting books to delivering the orders on time, it all takes a lot of effort. There are times when the next big growth is all set to happen provided you are willing to pump in a little extra cash. However, your business is unable to bear the financial burden. So, does that mean you have to let go of the golden opportunity. Well, surely not. Our business loan facility is here to bail you out of such situations. Applying for a business loan is easy. Thanks to our efficient services, we understand the emergencies that the client is facing and therefore work hard to deliver quick responses.
Our business loan eligibility rules are very simple. This helps in increasing the ambit of people who can apply for our loan and make the most of our services. You need to be of legal age to apply for a business loan which is in the range of 21 to 65 years. Additionally, when applying for a loan, you will need to show your business revenues or source of income that will justify your ability to pay. In case the income is not supporting the loan amount, you can also mortgage property of equivalent value.
Ideally, the bank decides the loan amount on the basis of the earning capacity of the business or the actual worth of the property that you are planning to mortgage.
Having another loan surely affects your eligibility adversely. But, this is applicable only if your business lacks the ability to handle another EMI. If your requested loan amount still falls within the permissible limit, it will be granted.
EMI or equated monthly instalment differs according to the loan amount that you have applied for, the tenure that you choose and also your ability to repay. Therefore, this amount differs from case to case but you can always ask your bank’s representative to give you an actual figure before your finalize the loan application procedure.
Well, the tenure of the loan is flexible. Depending on your payment capacity, you can choose a repayment plan with a tenure that meets your requirement. The idea of our business loan service is to supplement your organization with the cash when needed without burdening the financial planning in any major way.
Yes! You can submit your application online and even check its status when it is being processed through the online portal itself.
Ideally, a loan application is processed within a period of thirty working days. However, this is the maximum time required. In most cases, the entire procedure is completed before this time.
There is a processing charge levied on all business loan applications. Even in case of failure of timely repayment or bouncing of EMI cheques, a fine is levied on the applicant.