Business Loan Aurangabad

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Best Banks for Business Loan Aurangabad

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 Aurangabad Features

Business Loan Aurangabad provides an Overdraft facility without any security.
Avail of a loan up to Rs. Forty lakhs (up to Rs. 50 lakhs in some selected areas) without any collateral.
Tenure varying from 12-48 months.
Engaging Rate of Interest @10.45% p.a.
No Foreclosure/part Closure shall be allowed during the first six months of the limit setting.
Examine your Business Growth Loan eligibility online or at any office in just 60 seconds.
Loans will be given based on the previous payment of home loans, auto loans, and credit cards.

Business Loan in Aurangabad 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 Aurangabad Documents Required

Salaried Customers:

PAN Card of the body availing the Business loan.
Residence Proof needed (Owned/Rented/Company provided) for loans.
Passport-sized photos–2.
Identity proof required by the Business loan Aurangabad (Aadhar card/driving license/Voter Id)
Payslips of the latest three months.
Bank statements for the previous six months of the person who is asking for a loan.

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

Self-Employed Customers:

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

Business Loan in Aurangabad Eligibility Criteria

Salaried Applicants

The job status of the applicant should also be mentioned.
A borrower needs to have the least income of INR 25,000 per month.
The least age of the person should be 21 years and a maximum of 60 years.
Work experience of the three years and the payroll should also be received in their accounts only.
Applicants must have an excellent credit history.

Self-Employed Applicants

The credit score of the individual applicants should be fair, and there should not be any debt or dues left of the individual.
The yearly income of the applicants should be at least Rs 2.5 lakh.
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 least age for an independent person should be 25 years.
The applicants asking for the Business loan should need to have a file of ITR for the last three years.
The company should be working for the prior three years continuously.

How to Apply for Business Loan in Aurangabad?

Visit our website Dialabank
Go to the loan part on the page and succeed on the Business loan section.
The applicant will address you all the details of the Business loan where they can take their favoured city, according to their needs.
For more information on Business loans and free administration, you may call on 9878981166.

Processing Fees / Prepayment Charges on Business Loan in Aurangabad

Every Bank and NBFC charges a fee for processing your loan request. Processing Fees charged by the Bank or NBFCs on Business Loan Aurangabad is up to 2.50% of the loan amount.

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 Aurangabad

CIBIL Score required for Business Loan Aurangabad

Every lending institution has its criteria for the least CIBIL score required for processing a Business Loan request in Aurangabad. Most institutions require the least score of CIBIL of 750 to process your loan application.

The organizations don’t just look at the overall score but also the detailed response on the previous loans taken. This includes details on the type of loan taken and the sum borrowed. Any delayed payments for past loans can act as a hindrance to your availing of a new loan.