Business Loan Ernakulam

Best Banks for Business Loan in Ernakulam

Business Loan Ernakulam Features

• The business loan Ernakulam provides the overdraft without any security.
• The loan amount that can be availed without collateral is 40lakhs(50 lakhs in some particular cases).
• The duration of loans can vary from 1 to 3 years.
• Attractive Rate of Interest @10.45% p.a.
• No Foreclosure/part Closure shall be permitted during the first six months of the limit setting.
• The Business growth loan can be checked both online and offline within a time duration of 1 minute.
• Loans will be paid based on the previous payment of home loans, auto loans, and credit cards.

Business Loan in Ernakulam Interest Rates

Business Loan in Ernakulam Documents Required

Salaried Customers:

• Identity proof needed by the Business loan (Aadhar card/driving license/Voter Id)
• The passport-sized coloured pictures, at least two.
• Proof of residence of an applicant (Owned/Rented/Company provided) for loans.
• The PAN Card.
• The recent three months payslips.
• Bank statements for the previous 6 months of the person who is asking for a loan.

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

Self-Employed Customers:

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

Business Loan in Ernakulam Eligibility Criteria

Salaried Applicants

• The job position of the applicant should also be mentioned.
• An applicant should at least earn 25000 a month.
• The minimum age of an applicant 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.
• Candidates must have an excellent credit history.

Self-Employed Applicants

• The candidate should have a good credit score and should not have any debt left.
• The annual income of the applicants should be at least Rs 2.5 lakh.
• The bank statements of three months should be given for the documentation.
• An applicant should be 25 years for availing of a loan.
• The applicants asking for the Business loan should need to have a file of ITR for the last three years.
• The company should be running for the prior three years continuously.

How to Apply for Business Loan Ernakulam?

1. Visit our website Dialabank
2. Go to the loan part on the page and click on the Business loan section.
3. The applicant will address you all the details of the Business loan where they can choose 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 Ernakulam

The fee charged by every bank in order to avail of a client loan is the processing fee. The processing fee for a business loan Ernakulam is up to 2.50% of the loan amount.

It is possible to end the loan tenure before the fixed time but then the banks charge a pre-payment penalty fee from the customer. 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 Ernakulam

Business Loan Ernakulam Agents/Broker

Dialabank is the best agent for availing Business LoanErnakulam.

You can simply apply online at Dialabank or give a bell at 9878981166.

Business Loan Ernakulam Contact Number

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

Pre Calculated EMI Table for Business Loan Ernakulam

About Ernakulam

Ernakulam is situated in the centre of the state of Kerala.

Major localities in India for availing Business Loan