Bangiya Gramin Vikash Bank Business Loan Key Features
| Bangiya Gramin Vikash Bank Interest Rate | 9.75% |
| Tenure | maximum of 5 years |
| Lowest EMI per lakh | ₹ 3,423 |
| Loan Amount | up to 1 crores |
| Part Prepayment, Charges | Allowed after 1 EMI’s, |
| Early Foreclosure, Charges | Allowed after 1 EMI’s |
| Bangiya Gramin Vikash Bank Processing Charges | Up to 2.50% of the loan amount (Min. Rs. 2,359 – Max. Rs. 88,500) |
| Prepayment Charges | 07-24 Months – 4% of Principal Outstanding Amount
25-36 Months – 3% of Principal Outstanding Amount More than 36 Months – 2% of Principal Outstanding Amount |
| Repayment Period | 12 – 48 months |
| Prepayment Condition | No pre-payment permitted until repayment of 6 EMIs |
| Collateral | Not required |
Interest Rate, Fees, and Charges (Self Employed Non-Professional)
| Facility | Charges |
| Interest Rate Charges | 9.75% |
| Loan Processing Charges | Up to 2.50% + GST as applicable |
| Prepayment | No pre-payment permitted until repayment of 6 EMIs |
| No Due Certificate / No Objection Certificate (NOC) | NIL |
| Duplicate no due certificate / NOC | NIL |
| Solvency Certificate | Not applicable |
| Charges for late payment of EMI | @ 24% p.a. |
| Charges for changing from fixed to floating rate of interest | Not applicable |
| Charges for changing from floating to a fixed rate of interest | Not applicable |
| Stamp Duty & other statutory charges | As per applicable laws of the state |
| Credit assessment charges | Not applicable |
| Nonstandard repayment charges | Not applicable |
| Cheque swapping charges | ₹ 500/- |
| Amortization Schedule charges | ₹ 200/- |
| Loan cancellation charges | NIL (However Interest would be charged for the interim period between the date of loan disbursement and date of loan cancellation and processing fees would be retained) |
| Cheque Bounce Charges | ₹ 550/- per cheque bounce |
| Legal / incidental charges | At actual |
| CIBIL Report Copy Charges | ₹ 50 Per Copy |
Interest Rate, Fees, and Charges (Self Employed Professional)
TABLE WILL APPEAR
Advantages of Bangiya Gramin Vikash Bank Business Loan
Bangiya Gramin Vikash Bank outfits its clients with adjusted things, so it fits the necessities of their specific client parcels. Bangiya Gramin Vikash Bank moreover offers:
- No hindrance by the oversee an account with how the candidate’s commerce is running.
Boundless free ATM trades at Tamilnad Trade Bank and another bank VISA ATMs in India.- No charges on NEFT/RTGS trades and ask drafts.
- Helpful and basic to urge to saves once the progress gets endorsed.
- Repayment account – diverse energy speak to steady reimbursement the board.
- The staff made a difference in the computerized account opening with Instant Welcome Packs (IWP).
- There are sensible financing costs to candidates with a wealthy relationship with the bank.
- There are special rates on Individual and Domestic Credits.
Bangiya Gramin Vikash Bank Business Loan Eligibility Criteria
| Eligibility Criteria | Description |
|---|---|
| Age | 21 to 60 years |
| Minimum Turnover | ₹ 0 |
| Business Existence (in months) | 0 months |
| ITR (months) | 6 months |
| Loan Amount | ₹ 1 Lakh to ₹ 8 Lakh |
| Loan Tenure | 36 months |
| Owned House or Place of Work | Not Required |
| CIBIL Score | 750 and above |
Bangiya Gramin Vikash Bank Business Loan Documents Required
Common Documents:
- Valid Proof for Identity: Passport / Ration card / Electricity Bill / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card/ Lease agreement / Sales Tax certificate/Trade licence
- Residence Proof: Lease agreement / Passport / Trade license / Electricity Bill / Sales Tax Certificate
- Age Proof: Passport / PAN card / Voter’s identity card
- Financial Documents: Copy of IT returns for the last two years and the latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
- Copy of Bank Statement
- Latest ITR and statement of computation of Income for the last 2 yrs.
- Proof of continuity of business
- Other Mandatory Documents that are Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
- Original Board resolution
- Financials audited/ certified by a CA.
* (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower
Self Employed (Private Ltd. Co. and Partnership Firms)
- Identity proof of the company: PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum
- Proof of identity: To be submitted with two authorized signatories such as 2 Directors including the managing director, with (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license
- Financial Documents: Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A
Self Employed Individuals – Professionals
- Identity Proof for Sole Proprietorship: PAN ID / IT return of the concern or Municipal tax, Water bill, and electricity bill in the name of the concern.
- Identity proof for the Sole Proprietor: Passport, Voter’s identity card, Driving license, PAN card.
- Address Proof for the Sole Proprietor: Driving license, Voter’s identity card, Ration card, Passport
- Financial Documents: Copies of IT returns for the last two years and Bank statements for the last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A
Self Employed Individuals – Non Professionals:
- Identity proof: Documents to be submitted for the sole proprietorship as well as for the individual’s (owner) identity.
- Copy of periodic stock, age-wise book-debt and creditors-statement for latest three months
- Copy of bank statement of main banker/copy of bank statement for the term loan for last months
- Financial Documents: Profit and Loss balance sheet for the last two years audited by a C.A, Sales tax returns for a minimum of 3 years, and the Copies of IT returns for the last three years.
Business Loan EMI Calculator for Bangiya Gramin Vikash Bank
The following is the EMI calculated table for Bangiya Gramin Vikash Bank Business loan:
| Loan Amount | 10 Year Loan | 15 Year Loan | 25 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 24,958 | ₹ 19,871 | ₹ 16,307 |
| ₹ 30 Lakh | ₹ 37,437 | ₹ 29,807 | ₹ 24,461 |
| ₹ 50 Lakh | ₹ 62,395 | ₹ 49,678 | ₹ 40,768 |
Calculate EMIs with the help of Dialabank’s fast and accurate EMI Calculator!
Compare Bangiya Gramin Vikash Bank Business Loan With Other Banks
| Bank |
HDFC Bank
|
Bangiya Gramin Vikash Bank
|
|---|---|---|
| Interest Rate | 15.65% – 21.35% | 9.75% |
| Processing Fees | Starting from 0.99%, Max 2.50% | Starting from 1%, Max 2.50% |
| Loan Amount | ₹ 50,000 to ₹ 50 Lakh | up to 1 crores |
| Loan Tenure | 12 to 48 Months | 5 years |
| Lowest EMI Per Lakh | ₹ 2,816 per lakh | ₹ 3,423 per lakh |
| Part Payment Charges | Not Allowed | Not Allowed |
| Foreclosure Charges | Allowed after 12 months at 2 – 4% | Allowed after 1 EMI’s |
| Borrower’s Age | 21 to 65 Years | 25 to 65 Years |
| Minimum Years in Business Required | 36 Months | 36 Months |
| Minimum Turnover Required | ₹ 1 Cr | ₹ 60 Lakh |
More Banks to compare with Bangiya Gramin Vikash Bank Business Loan:
| Barclays Bank | Canara Bank | Private Bank | ING Vysya Bank |
| HSBC | Citibank | Kotak Mahindra Bank | |
Video: How to apply for Bangiya Gramin Vikash Bank Business Loan
VIDEO WILL APPEAR!
Purpose of Business Loans from Bangiya Gramin Vikash Bank
Profiting a Commerce Credit from Bangiya Gramin Vikash Bank can cover and offer assistance with:
- The Bank is maintaining a stable cash stream to form instalments to the providers on time.
- There is instant accessibility of liquidity to back the everyday needs of the business.
- The credit sum can be utilized to cover up all the costs related to trade expansion.
- Covers took a toll of buying new or overhauling apparatus or equipment.
- Covers took a toll of obtaining unused inventories.
EMIs of Several Banks and NBFCs for Different Tenures
The following table shows the approximate values of EMI’s offered by banks and NBFC’s other than Bangiya Gramin Vikash Bank
| Total Loan Amount | Loan Tenure | ||
|---|---|---|---|
| Loan Amount (Rs.) | 10 years | 15 years | 25 years |
| 2,500,000 | ₹ 31,197 | ₹ 24,839 | 20,384 |
| 5,000,000 | ₹ 62,395 | ₹ 49,678 | 40,768 |
| 7,500,000 | ₹ 93,592 | ₹ 74,516 | 61,152 |
| 10,000,000 | ₹ 1.25 Lakh | ₹ 99,355 | 81,536 |
Other Loan Products from Bangiya Gramin Vikash Bank
| Personal Loan | Gold Loan |
Why should you apply for Bangiya Gramin Vikash Bank Business Loan at Dialabank?
DialaBank is India’s first financial helpline, to begin with, web-based keeping money helpline organization. It fills in as an expansion among you and your favoured bank choice by constraining the mind-boggling regulatory work and application degree. Figuring out an adequate proposition concurring to your necessities is Dialabank’s principal expert card because it has successfully passed on all the ensured terms to each one of its clients with no fizzles.
Its clients have confirmed Dialabank and other endorsed bodies which is the reason it is put on the most noteworthy point of its rival’s leaderboard.
Know more regarding Dialabank by visiting us online or by calling on 9878981166.
How to calculate EMI for Bangiya Gramin Vikash Bank Business Loan?
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 3,00,000 | 9.75% | 1 | ₹ 26,555 | ₹ 18,661 | ₹ 3,18,661 |
| ₹ 3,00,000 | 9.75% | 2 | ₹ 14,023 | ₹ 36,547 | ₹ 3,36,547 |
| ₹ 3,00,000 | 9.75% | 3 | ₹ 9863 | ₹ 55,063 | ₹ 3,55,063 |
| ₹ 3,00,000 | 9.75% | 4 | ₹ 7796 | ₹ 74,207 | ₹ 3,74,207 |
| ₹ 3,00,000 | 9.75% | 5 | ₹ 6566 | ₹ 93,972 | ₹ 3,93,972 |
You can also calculate the specific loan amount EMIs on Dialabank’s EMI Calculator.
Benefits of Bangiya Gramin Vikash Bank Business Loan
Bangiya Gramin Vikash Bank offers Business advances to independently employed and finance managers for financing the extension or working capital prerequisites of their business. There are numerous advantages of profiting credit from the Bangiya Gramin Vikash Bank:
- Dropline Overdraft to spare interest.
- High credit sum up to Rs. 75 Lakh.
- No insurance or underwriter required.
- The equilibrium move choice accessible.
- Adaptable residency and a simple cycle.
- Quick Approvals and disbursals.
- Low and adaptable loan costs.
- Straightforward and least desk work required.
Bangiya Gramin Vikash Bank Business Loan Processing Time
For loan applications for Commercial Banking customers, the Bank will take 30 working days to communicate the decision, once the customer appropriately submits all the information required by the Bank.
Bangiya Gramin Vikash Bank Business Loan Preclosure
Bangiya Gramin Vikash Bank’s Business Loan Preclosure charges vary between 2% to 2.5% of the disbursed limit.
Pre Calculated EMI Table for Bangiya Gramin Vikash Bank Business Loan
The Loan EMI in Bangiya Gramin Vikash Bank depends upon the occupation (businessmen, self-employed, salaried), loan amount, loan tenure, and interest rate.
| Loan Amount | 5 Year Loan | 7 Year Loan | 15 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 42,298 | ₹ 32,996 | ₹ 21,248 |
| ₹ 30 Lakh | ₹ 63,446 | ₹ 49,494 | ₹ 31,872 |
| ₹ 50 Lakh | ₹ 1,05,744 | ₹ 82,490 | ₹ 53,120 |
How to Apply for Bangiya Gramin Vikash Bank Business Loan Online?
- Visit Dialabank.
- Go to the loan section and click on the Business Loan link.
- Check the eligibility criteria for the Business loan offered by Bangiya Gramin Vikash Bank and fill a user-friendly online application form for Business Loan.
- One of our relationship managers will soon get in touch with you for further process.
- For more information and free guidance, you may call on +919878981166.
Bangiya Gramin Vikash Bank Business Loan Status
You can find the loan status by Calling at +919878981166 or by visiting Main Bangiya Gramin Vikash Bank Site.
Dialabank Bangiya Gramin Vikash Bank Business Loan Customer Care Number
To find the clarification to your inquiries about a business loan, give a call at +919878981166
Dialabank helps you to find the best decision of Banks and NBFCs by presenting you with a thorough market comparison of several banks so that you can make the right decision.
Bangiya Gramin Vikash Bank Business Loan FAQs
✅ Is a guarantor required for the Bangiya Gramin Vikash Bank Business Loan?
No form of security is required while applying for Bangiya Gramin Vikash Bank’s Business Loan.
✅ How do I repay my business loan?
EMIs should repay it via paying guidance and post-dated cheque.
✅ What are the minimum and maximum range of tenure of business loans in the Bangiya Gramin Vikash Bank?
These loans are more abbreviated tenure loans. You can repay your loan in a compliant period of a minimum of 12 months to a maximum of 48 months.
✅ How much business loan amount I can borrow from the Bangiya Gramin Vikash Bank?
Bangiya Gramin Vikash Bank Bank offers you a loan if you need a minimum amount of ₹ 1 crores.
