Baroda Gujarat Gramin Bank Business Loan Key Features
| Baroda Gujarat Gramin Bank Interest Rate | 11.2% |
| Tenure | up to 36 months |
| Lowest EMI per lakh | ₹ 3,423 |
| Loan Amount | Min ₹ 1 Lakh and Max ₹ 8 Lakh |
| Part Prepayment, Charges | Allowed after 1 EMI’s, |
| Early Foreclosure, Charges | Allowed after 1 EMI’s |
| Baroda Gujarat Gramin 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 | 11.2% |
| 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 Baroda Gujarat Gramin Bank Business Loan
Baroda Gujarat Gramin Bank furnishes its clients with modified items, so it fits the necessities of their particular client portions. Baroda Gujarat Gramin Bank additionally offers:
- No obstruction by the manage an account with how the candidate’s business is running.
Boundless free ATM exchanges at Tamilnad Mercantile Bank and another bank VISA ATMs in India.- No charges on NEFT/RTGS exchanges and request drafts.
- Helpful and simple to get to reserves once the advance gets endorsed.
- Repayment account – a different momentum represents consistent repayment the board.
- The staff helped the computerized account opening with Instant Welcome Packs (IWP).
- Sensible financing costs to candidates with a rich relationship with the bank.
- Special rates on Personal and Home Loans.
Baroda Gujarat Gramin 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 |
Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank
The following is the EMI calculated table for Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank Business Loan With Other Banks
| Bank |
HDFC Bank
|
Baroda Gujarat Gramin Bank
|
|---|---|---|
| Interest Rate | 15.65% – 21.35% | 11.2% |
| Processing Fees | Starting from 0.99%, Max 2.50% | Starting from 1%, Max 2.50% |
| Loan Amount | ₹ 50,000 to ₹ 50 Lakh | ₹ 1 lakhs to ₹ 8 Lakh |
| Loan Tenure | 12 to 48 Months | 36 months |
| 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 Baroda Gujarat Gramin Bank Business Loan:
| Barclays Bank | Canara Bank | Private Bank | ING Vysya Bank |
| HSBC | Citibank | Kotak Mahindra Bank | |
Video: How to apply for Baroda Gujarat Gramin Bank Business Loan
VIDEO WILL APPEAR!
Purpose of Business Loans from Baroda Gujarat Gramin Bank
Availing a Business Loan from Baroda Gujarat Gramin Bank can cover and help with:
- Maintaining a healthy cash flow to make payments to the suppliers on time.
- Instant availability of liquidity to finance the everyday needs of the business.
- The loan amount can be used to cover up all the expenses related to business expansion.
- Covers the cost of buying new or upgrading machinery or equipment.
- Covers the cost of purchasing new 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 Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank
| Personal Loan | Gold Loan |
Why should you apply for Baroda Gujarat Gramin Bank Business Loan at Dialabank?
DialaBank is India’s first web-based banking helpline administration. It fills in as an extension among you and your favoured bank decision by limiting the mind-boggling administrative work and application measure. Figuring out the best proposal according to your necessities is Dialabank’s fundamental ace card as it has effectively conveyed all the guaranteed terms to every one of its clients with no fizzles.
Its clients have affirmed Dialabank and other approved bodies and that is the reason it is put on the highest point of its rival’s leaderboard.
Know more regarding Dialabank by visiting us online or by calling on 9878981166.
How to calculate EMI for Baroda Gujarat Gramin 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 | 11.2% | 1 | ₹ 26,555 | ₹ 18,661 | ₹ 3,18,661 |
| ₹ 3,00,000 | 11.2% | 2 | ₹ 14,023 | ₹ 36,547 | ₹ 3,36,547 |
| ₹ 3,00,000 | 11.2% | 3 | ₹ 9863 | ₹ 55,063 | ₹ 3,55,063 |
| ₹ 3,00,000 | 11.2% | 4 | ₹ 7796 | ₹ 74,207 | ₹ 3,74,207 |
| ₹ 3,00,000 | 11.2% | 5 | ₹ 6566 | ₹ 93,972 | ₹ 3,93,972 |
You can also calculate the specific loan amount EMIs on Dialabank’s EMI Calculator.
Benefits of Baroda Gujarat Gramin Bank Business Loan
Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank:
- Dropline Overdraft to spare interest.
- High credit sum up to Rs. 75 Lakh.
- No insurance or underwriter is required.
- The equilibrium move choice is accessible.
- Adaptable residency and a simple cycle.
- Quick Approvals and disbursals.
- Low and adaptable loan costs.
- Straightforward and least desk work required.
Baroda Gujarat Gramin 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.
Baroda Gujarat Gramin Bank Business Loan Preclosure
Baroda Gujarat Gramin Bank’s Business Loan Preclosure charges vary between 2% to 2.5% of the disbursed limit.
Pre Calculated EMI Table for Baroda Gujarat Gramin Bank Business Loan
The Loan EMI in Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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.
Baroda Gujarat Gramin Bank Business Loan Status
You can find the loan status by Calling at +919878981166 or by visiting Main Baroda Gujarat Gramin Bank Site.
Dialabank Baroda Gujarat Gramin Bank Business Loan Customer Care Number
To find 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.
Baroda Gujarat Gramin Bank Business Loan FAQs
✅ Is a guarantor required for the Baroda Gujarat Gramin Bank Business Loan?
No form of security is required while applying for Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank?
Baroda Gujarat Gramin Bank Bank offers you a loan if you need a minimum amount of ₹1 lakhs to a maximum amount of ₹ 8 Lakh.
