Business Loan Itarsi

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Best Banks for Business Loan in Itarsi

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 Itarsi Features

In Itarsi, the loans are available up to Rs. 40 lakhs(at some locations up to Rs. 50 lakhs).
Business Loan Itarsi gives loans at a @10.45% rate of interest.
You can check your Business growth Loan eligibility online or at any branch in just 60 seconds.
Business Loan Itarsi gives an Overdraft facility without any security.
An overdraft facility is available up to Rs. 5Lac- Rs. 15 Lac*(Terms and Conditions Apply).
The tenure is ranging from 12-48 months.
No Foreclosure/part Closure shall be permitted during the first 6 months.
Tax benefits are also applicable as per laws.
The processing charges are also low.
No guarantor/security is required.

Business Loan in Itarsi 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 Itarsi Documents Required

Salaried Customers:

Any of the above documents as Identity proof: Aadhaar Card, Passport, Voter’s ID Card, PAN Card, Driving License.
Any of the above documents as address proof: Aadhaar Card, Passport, Voter’s ID Card, Driving License.
Two passport-sized photographs are required.
Payslips of the last three months of the candidate is also required.
Bank statements for the last 6 months.

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

Self-Employed Customers:

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

Business Loan in Itarsi Eligibility Criteria

Salaried Applicants:

The minimum age:- 21 years.
The maximum age:- 60 years.
The minimum income of the applicant should be INR 25,000 per month.
The job position of the applicant should be mentioned.
The candidate must have a decent credit history.
Work experience of the three years and the payroll should also be received in their accounts only.

Self-Employed Applicants:

The annual income of the applicants should be the least Rs 2.5 lakh.
The minimum age of the applicant should be 25 years.
Individuals who have been in the current business for a minimum of 3 years are eligible.
The credit score of the individual candidates should be fair, and there should not be any debt or dues left of the individual.
The whole documentation method of Business loan Itarsi is that the applicants have to present their financial and bank statements of the previous three months.

How to Apply for Business Loan in Itarsi?

Visit our website Dialabank
Go to the loan part on the page and click on the Business loan section.
The applicant will address all the details of the Business loan Itarsi and also they can choose 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 Itarsi

Every Bank and NBFC charges a fee for processing your loan request. Processing Fees charged by the Bank or NBFCs on Business Loan Itarsi 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 Itarsi