Business Loan Meerut

Best Banks for Business Loan in Meerut

Business Loan in Meerut Features

• Business Loan Meerut provides an overdraft facility without any security
• Avail maximum loan amount up to Rs. 40 lakhs ( up to Rs. 50 lakhs in some locations) without any collateral
• Affordable Rate of Interest starts at 10.45% per annum
• Loan Tenure Duration ranging from 12 – 48 months
• No foreclosure/ part closure will be allowed during the first 6 months of the limit setting
• No requirement of a guarantor
• Check out your eligibility of Business Loan online or at any bank branch in just 60 seconds.
• Loan disbursal is dependent on the previous repayment of home loans, auto loans, and credit cards.

Business Loan in Meerut Interest Rates

To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates

Business Loan in Meerut Documents Required

Salaried Applicants:

1. PAN Card of the consumer for getting a Business Loan.
2. Residence Evidence required (Owned/Rented/Company provided) for loans.
3. Two Passport-sized photographs
4. Identity proof required for the Business Loan Meerut (Aadhar card/driving license/Voter Id)
5. Salary slips of the last three months of the applier are required.
6. Bank statements for the last 6 months of the person applying for a Business Loan.

*NOTE: In case of rented accommodations, the rental agreement must be attached.

Self-Employed Applicants:

1. Aadhar Card is needed to get the loan.
2. Residence Proof( Current and Permanent) is required for applying.
3. Two passport-sized photographs of the applicant applying for a business loan.
4. All financials are needed of the applicant(Balance Sheet, P&L Statement as well as ITR files).
5. PAN Card

Business Loan in Meerut Eligibility Criteria

Salaried Applicants

1. The work location of the applicant must also be mentioned.
2.  A borrower should have a minimum earning of INR 25,000/month
3. The minimum age of the consumer should be 21 years and a maximum of 65 years.
4. Work experience of the three years and the salary should be received in their bank accounts.
5. Candidates should have an excellent credit history.

Self-Employed Applicants

1. The credit score of the applicants should be good and there must not be any debt or dues left of the individual.
2. The yearly income of the candidates should be a minimum of Rs 2.5 lakh.
3. The entire documentation process of the business loan is that the candidates have to present their financial and bank statements for the previous three months.
4. The least age for an independent person must be 25 years.
5. The applicants applying for the business loan should need to have a file of ITR for the last three years.
6. For the businessmen, the business should be functioning from the past three years.

How to apply for Business Loan in Meerut?

1. Visit our website Dialabank.
2. Go to the loan section on the page and press the business loan link.
3. The applicant will be directed to all the details of the business loan where they can choose their preferred city, according to their needs and preferences.
4. For more information on business loans and free assistance, you may call on 9878981166.

Processing Fees / Prepayment Charges on Business Loan in Meerut

Every Bank and NBFC charges a fee for processing your Business Loan application. Business Loan Meerut charges a processing fee of up to 2.50% of the loan amount.

If you wish 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 can’t close the loan before the duration of 12 months from the date of availing the loan. After that, the prepayment charges depend on how many years the loan has done.

The prepayment charges on Business Loan in Meerut 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 Meerut

CIBIL Score required for Business Loan Meerut

Every lending institution has its criteria for the minimum CIBIL score required for processing the Business Loan application in Meerut. Most foundations require a minimum score of CIBIL of 750 to process your Business Loan Meerut application.

Apart from the CIBIL score, the foundations also check the record of the previous loans that you have taken. It covers details of the type of loan taken and the loan amount borrowed. If there are any late payments for previous loans, then it can act as a barricade to your availing of a new loan.

Business Loan Meerut Agents/Broker

Dialabank is the best agent for availing Business Loan in Meerut.

You can easily apply online for a Business Loan at Dialabank or contact at 9878981166

Business Loan Meerut Contact Number

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

Pre-Calculated EMI Table for Business Loan Meerut