Business Loan Shimoga

Best Banks for Business Loan in Shimoga

Feature	HDFC Bank	Private Bank	Bajaj Finance
Interest Rate	10.75% - 17%	11.25% - 18.5%	12%
Min Loan Amt	Metro : 75000 & Non Metro: 50000	50000	100000
Max Loan Amt	50 Lacs	50 Lacs	1 Cr
Loan Tenure	1 - 5 Years	1 - 5 Years	1 - 5 Years
Processing Fee	0.25% - 2% of the Loan Amt	1% - 2.5% of the Loan Amt	0.5% - 2% of the Loan Amt
Preclosure Charges	2%, Nil foreclosure charges after 12 months	2%, Nil foreclosure charges after 24 months	Nil
Overdraft Facility	No	No	Yes

Business Loan in Shimoga Features

• The amount of the loan varies from Rs 50,000 to one crore.
• It is a hassle-free loan with no need for collateral or guarantee.
• With simple EMIs, you can quickly repay the entire amount of the loan.
• This needs clear processes and quick loan approvals.
• Company Loan Shimoga is a trouble-free loan with no need for collateral or guarantee.
• With simple EMIs, you can quickly repay the entire amount of the loan.

Business Loan in Shimoga Interest Rates

Bank	Processing Fee	Prepayment Charges
HDFC Bank Personal Loan	0.25% to 1.50%	2%, Nil foreclosure charges after 3 months
Axis Bank Personal Loan	0.50% to 1.50%	Nil
Private Bank Personal Loan	0.25% to 1.50%	2%, Nil foreclosure charges after 9 months
SBI Personal Loan	500/- to 0.50%	Nil
Kotak Personal Loan	1% to 2%	2.25% of fore closure amount if closed 1 month ahead of the tenure.
IIFL Personal Loan	Nil	Nil
Muthoot Personal Loan	Nil	Nil
Manappauram Personal Loan	Nil	Nil
PNB Personal Loan	0.70% to 1%	Nil
Canara Bank Personal Loan	1%	Nil
Andhra Bank Personal Loan	Nil	Nil

To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates

Business Loan in Shimoga Documents Required

Salaried Customers:

• PAN Card of the individual making use of the loan from the company. 
• The applicant‘s payslips for the last three months are also required. 
• Residence Proof required for loans (Owned / Rented / Company provided). 
• Passport-sized pictures-2. 
• Bank statements of the person applying for a loan for the previous 6 months.
• Identity evidence required by the Business Loan (Aadhar Card / Driving License / Voter I d) 

*NOTE: In the case of rented houses, a rent agreement needs to be attached.

Self-Employed Customers:

• Aadhar Card
• Residence verification( Current and Permanent) is needed for applying.
• All financial documents are needed of the customer(Balance Sheet, P&L Statement as well as ITR files).
• PAN Card is compulsory for applying.
• Two passport-sized photos of the person applying for a loan.

Business Loan in Shimoga Eligibility Criteria

Salaried Applicants:

Self-Employed Applicants:

• The credit score of the individual candidates should be fair, and there should not be any debt or dues left of the individual.
• The company should be running for the prior three years continuously.
• The whole documentation method of the Business loan is that the applicants have to present their financial and bank statements of the previous three months.
• The applicants asking for the Business loan should need to have a file of ITR for the last three years.
• The least age for an independent person should be 25 years.
• The annual income of the applicants should be a least of Rs 2.5 lakh.

How to Apply for Business Loan in Shimoga?

1. Visit our website Dialabank
2. Go to the loan part on the page and click on the Business loan section.
3. The borrower will provide you with all the details of the business loan, where they can pick their favoured city according to their needs.
4. For more information on Business loans and free administration, you may call on 9878981166.

Processing Fees / Prepayment Charges on Business Loan in Shimoga

If you close your loan before the accepted loan tenure in the documents, every lending company charges you a penal prepayment fee for the loan period agreed beforehand. In most cases, you cannot settle your loan before 12 months from the date of availing the loan. Post that the charges also vary depending on how many years the credit has been done. The Prepayment charges are mentioned below:

• 07-24 Months – 4% of Principal Outstanding
• 25-36 Months – 3% of Principal Outstanding
• >36 Months – 2% of Principal Outstanding

Business Loan EMI Calculator Shimoga

Business Loan Shimoga Contact Number

Call 9878981166 and get instant help and approval for availing of Business Loan Shimoga.

Pre Calculated EMI Table for Business Loan Shimoga