Best Banks for Business Loan Mandsaur
1% - 2.5% of the Loan Amt
Business Loan in Mandsaur Features
Business Loan Mandsaur provides overdraft facility without any security- Avail maximum loan amount up to Rs. 40 lakhs (up to Rs. 50 lakhs in some locations) without any protection
- Business Loan Mandsaur offers a Reasonable Rate of Interest starts at 10.45% per annum
- Loan Tenure ranging from 12 – 48 months
- No foreclosure/ part closure shall be agreed during the first 6 months of the limit setting
- No guarantor is required
- Check out your Business Loan eligibility online or at any branch in just 60 seconds.
- Loan disbursal depends on the previous repayment of home loans, auto loans, and credit cards.
Business Loan in Mandsaur Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Business Loan in Mandsaur Documents Required
Salaried Applicants:
- PAN Card of the person for availing of a Business Loan.
- Residence Proof required (Owned/Rented/Company provided) for loans.
- Two Passport-sized photographs
- Identity proof required for the Business Loan Mandsaur (Aadhar card/driving license/Voter Id)
- Salary slips of the last three months of the applicant are required.
- Bank statements for the last 6 months of the consumer applying for a Business Loan.
*NOTE: In case of rented accommodations, the rental agreement must be attached.
Self-Employed Applicants:
- Aadhar Card
- Residence Proof( Current and Permanent) is required for applying.
- Two passport-sized photographs of the candidate applying for a loan.
- All financials are required of the applicant(Balance Sheet, P&L Statement as well as ITR files).
- PAN Card is mandatory
Business Loan in Mandsaur Eligibility Criteria
Salaried Applicants
- The work location of the applicant must also be mentioned.
- A borrower should have a least earning of INR 25,000/month
- The age of the applicant must be 21 years minimum and 65 years maximum.
- Work experience of the three years and the stipend must get in their accounts only.
- Applicants should have an outstanding credit history.
Self-Employed Applicants
- The credit score of the individual must be good and there must not be any debt or dues left.
- The annual stipend of the candidates should be a minimum of Rs 2.5 lakh.
- The whole documentation procedure of the business loan is that the applicants have to present their financial and bank statements for the previous three months.
- The minimum age for an individual must be 25 years.
- The applicants applying for the business loan need to have a file of ITR for the last three years.
- For the businessmen, the business should be functioning from the past three years.
How to apply for Business Loan in Mandsaur?
- Visit our website Dialabank.
- Go to the loan section on the page and click on the business loan link.
- The candidate will be directed to all the details of the business loan where they can choose their preferred city, according to their needs.
- For more information about business loans and free assistance, you may call on 9878981166.
Processing Fees / Prepayment Charges on Business Loan in Mandsaur
Every Bank and NBFC charges a fee for processing your Business Loan application. Business Loan Mandsaur charges a processing fee of up to 2.50% of the loan amount.
If you desire to close your loan before the agreed loan tenure in the documents, every lending institution charges you a penal prepayment fee for the loan duration agreed earlier. In most cases, you cannot close the loan before the duration of 12 months from the date of availing the loan. After that, the charges depend on how many years the loan has been done.
The prepayment charges on Business Loan Mandsaur are:
- 07-24 Months – 4% of Principal Outstanding
- 25-36 Months – 3% of Principal Outstanding
- For more than 36 months, the charges up to 2% of Principal Outstanding
Business Loan EMI Calculator Mandsaur
Business Loan Mandsaur Contact Number
You can easily apply online for a Business Loan in Mandsaur at Dialabank
Call 9878981166 and get instant help and approval for availing Business Loan Mandsaur.
Pre-Calculated EMI Table for Business Loan Mandsaur
About Mandsaur
Mandsaur is a town in the Malwa region of Madhya Pradesh state in India. It is the administrative headquarters of Mandsaur District. The name of the city comes from “Marhsaur” which is derived from Marh and Saur, two of the villages which merged into the town.
FAQs About Business Loan Mandsaur
✅ What are the minimum and maximum loan amounts I can get as a business loan in Mandsaur?
The minimum loan amount offered in a business loan in Mandsaur is Rs. 5,000 and the maximum loan amount can extend up to Rs. 2 crores, depending on the requirements and eligibility.
✅ What is the age limit of availing a business loan in Mandsaur?
The age limit is usually 21-65 years for availing of a business loan in Mandsaur.
✅ What is the tenure period for a business loan in Mandsaur repayment?
You can repay the Mandsaur loan amount in a minimum of 12 months and a maximum of up to 5 years, depending on the respective bank or NBFC. Some institutes in Mandsaur may even extend the tenure period.
