Business Loan Mahbubnagar

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Best Banks for Business Loan Mahbubnagar

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 Mahbubnagar Features

Business Loan Mahbubnagar provides an Overdraft facility without any security.
The loans are available up to Rs. 40 lakhs without any security.
You can repay the loan within 12-48 months.
The loans are available at a @10.45% rate of interest.
The processing fees are also low.
There is no need to use other savings to repay the loan.
Tax benefits are also applicable as per laws.
No guarantor/security is required.
You can check your Business growth Loan eligibility online in just 60 seconds.

Business Loan in Mahbubnagar 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 Mahbubnagar Documents Required

Salaried Customers:

Identity proof: Aadhaar Card, Passport, Voter’s ID Card, PAN Card, Driving License
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 previous 6 months.

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

Self-Employed Customers:

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

Business Loan in Mahbubnagar Eligibility Criteria

Salaried Applicants

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

Self-Employed Applicants

The credit score of the individual candidates should be fair, and there should not be any debt or dues left of the individual.
The minimum annual income of the applicants should be Rs 2.5 lakh.
The whole documentation method of Business loan Mahbubnagar is that the applicants have to present their financial and bank statements of the previous three months.
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.

How to Apply for Business Loan in Mahbubnagar?

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 Mahbubnagar and also they can choose their favored 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 Mahbubnagar

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