Business Loan Muzzafarnagar

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Best Banks for Business Loan Muzzafarnagar

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 Muzzafarnagar Features

No security requirement: Business loans do not need to pledge any collateral to the bank.
For every business needs: Business Debt can be used for almost every business purpose without knowing the reason for availing the loan.
Less processing time: Business debt takes less time to get approved.
Less paperwork involved: Business Finance requires only a small set of documents like ITR proof and turnover.
Easily available: Business loan requires only 5-7 days to get approved.

Business Loan in Muzzafarnagar 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 Muzzafarnagar Documents Required

Salaried Customers:

PAN Card of the individual making use of the loan from the company.
The applicant‘s payslips for the last three months are also required.
Residence Proof required for loans (Owned / Rented / Company provided).
Passport-sized pictures-2.
Bank statements of the person applying for a loan for the previous 6 months.
Identity evidence required by the Business Loan (Aadhar Card / Driving License / Voter I d)

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

Self-Employed Customers:

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

Business Loan in Muzzafarnagar Eligibility Criteria

Salaried Applicants

The applicant‘s work status should also be noted.
A borrower should also have the lowest salary of INR 25,000 per month.
A person should have a minimum age of 21 and a maximum age of 60.
The three years of work experience and the payroll should also only be received in their accounts.
Applicants must have an outstanding credit record

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 company should be running from the prior three years continuously.
The whole documentation method of the Business loan is that the applicants have to present their financial and bank statements of the previous three months.
The applicants asking for the Business loan should need to have a file of ITR for the last three years.
The least age for an independent person should be 25 years.
The annual income of the applicants should be a least of Rs 2.5 lakh.

How to Apply for Business Loan in Muzzafarnagar?

Visit our website Dialabank
Go to the loan part on the page and click on the Business loan section.
The borrower will provide you with all the details of the business loan, where they can pick 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 Muzzafarnagar

For the processing of your loan request, every bank and NBFC charges a fee. Up to 2.50 per cent of the loan, sum is transaction fees paid by the bank or NBFCs on Business Loan Muzzafarnagar.

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 Muzzafarnagar