Best Banks for Business Loan Nagercoil
Business Loan in Nagercoil 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 Nagercoil Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Business Loan in Nagercoil Documents Required
Salaried Customers:
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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.
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Residence Proof required for loans (Owned / Rented / Company provided).
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Passport-sized pictures-2.
- Bank statements of the person applying for a loan for the previous 6 months.
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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 Nagercoil 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 Nagercoil?
- Visit our website Dialabank
- Go to the loan part on the page and click on the Business loan section.
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The borrower will provide you with all the details of the business loan, where they can pick 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 Nagercoil
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 Nagercoil
Business Loan Nagercoil Contact Number
Call 9878981166 and get instant help and approval for availing Business Loan Nagercoil.
Pre Calculated EMI Table for Business Loan Nagercoil
FAQs About Business Loan Nagercoil
✅ What are the minimum and maximum loan amounts I can get as a business loan Nagercoil?
The minimum loan amount offered in a business loan Nagercoil 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 Nagercoil?
The age limit is usually 21-65 years for availing of a business loan Nagercoil.
✅ What is the tenure period for business loan Nagercoil repayment?
You can repay the Nagercoil 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 Nagercoil may even extend the tenure period.
