Business Loan Raipur (MP)

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Best Banks for Business Loans in Raipur (MP)

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 Raipur (MP) Features

Financial sources play an integral role to operate a business. Business Loans are introduced so that one gets a sufficient amount to run a business under certain valid conditions. Business Loan Raipur (MP) is the financial solution to all your business finance queries.

Dialabank brings you the Business Loan that supports your idea of setting up a business.

The candidate can easily get a Business Loan of up to 40 lakh that helps you grow your business.
The Interest Rates are 10.45% p.a.
Loan tenures are customer-friendly that is suitable for the borrower.
Business Loan Raipur (MP) provides the borrower with a privilege, i.e. overdraft facility that liberalizes the amount limitations.
Business Loans are the simplest loan that you can easily avail in a few simple steps that make the financial help available for you.
No institution permits any sort of pre-closing and post-tenure repayment in an ongoing loan.
In addition to the basic testament, you require a good credit score for Business loan Raipur (MP) approval.

Business Loan in Raipur (MP) 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 Raipur (MP) Documents Required

Essential declarations required for Business Loan Raipur (MP) are:

Salaried Customers:

Candidate’s PAN Card
An Adhar Card that verifies Proof of Identity
2 Passport-sized Photographs of the applicant
Last three month’s Salary Slips of the candidate
Up to six month’s Bank statements

*NOTE: In the case of rented houses, a rent agreement is mandatory to attach.

Self-Employed Customers:

Adhar card is used as the Identity proof
(Current and Permanent) legal address is needed for Residence verification
Financial documents: that belong to the applicant (Balance Sheet, P&L Statement, as well as ITR files).
Photographs: 2 passport sized photographs.
PAN Card: It is obligatory while applying for Business Loan Raipur (MP).

Business Loan in Raipur (MP) Eligibility Criteria

They must meet criteria for availing Business Loan Raipur (MP):

Salaried Applicants:

The job position of the applicant in operating employment should be specified in the given documents.
The candidate must possess documented proof of employment for the past three years with regular payrolls.
A borrower should also earn a min income of INR 25,000 per month.
Candidates should have a clear credit history.
The least age of the person should lie between 21 years to a maximum of 60 years.

Self-Employed Applicants:

The minimum age criteria for the applicant is 25 years.
The applicant is needed to have a satisfactory credit history.
The income of the applicant annual basis should be a minimum of Rs 2.5 lakh.
The applicant must attach all financial statements that belong to him/her.
The company should be operating from the prior three years consistently.
The applicants asking for the Business loan is needed to have a file of ITR for the last three years.

How to Apply for Business Loan Raipur (MP)?

Visit us on our website Dialabank.
Choose the loan part on the page and click on the Business loan section.
Go through the page thoroughly and select the city of your choice from the drop-down list.
For any administrative or processing assistance, you may call on 9878981166.

Processing Fees / Prepayment Charges on Business Loan Raipur (MP)

A business Loan is inclusive of a certain fee that is charged while getting the amount processed from any establishment that permits a Business Loan that is known as Processing Fee. Every Loaning institute charges a moderate fee of up to 2.50% from the total loan amount.

In case of Pre-closing of the loan tenure, every lending company or institution charges you a penal prepayment fee for the loan period which is approved prior.

Mostly, the individuals are not allowed to settle the loan before 12 months from the date of availing the loan. After which, the charges also contradict depending on how many years the credit has done.

The Prepayment charges for Business Loan Raipur (MP) are given 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 Raipur (MP)