Jharkhand Gramin Bank Business Loan Key Features
| Jharkhand Gramin Bank Interest Rate | 13.50% – 14.50% |
| Tenure | From 12 months to 84 months |
| Lowest EMI per lakh | ₹ 3,423 |
| Loan Amount | Min ₹ 50 Thousand and Max ₹ 5 crore |
| Part Prepayment, Charges | Allowed after 1 EMI’s |
| Early Foreclosure, Charges | Allowed after 1 EMI’s |
| Bank of Baroda Processing Charges | Up to 2.50% of the loan amount (Min. Rs. 2,359 – Max. Rs. 88,500) |
| Prepayment Charges | 07-24 Months – 4% of Principal Outstanding Amount
25-36 Months – 3% of Principal Outstanding Amount More than 36 Months – 2% of Principal Outstanding Amount |
| Repayment Period | 12 – 48 months ( 84 EMI ) |
| Prepayment Condition | No pre-payment permitted until repayment of 6 EMIs |
| Collateral | Not required |
Interest Rate, Fees, and Charges (Self Employed Non-Professional)
| Facility | Charges |
| Interest Rate Charges | 14.50% |
| Loan Processing Charges | Up to 2.50% + GST as applicable |
| Prepayment | No pre-payment permitted until repayment of 6 EMIs |
| No Due Certificate / No Objection Certificate (NOC) | NIL |
| Duplicate no due certificate / NOC | NIL |
| Solvency Certificate | Not applicable |
| Charges for late payment of EMI | @ 24% p.a. |
| Charges for changing from fixed to floating rate of interest | Not applicable |
| Charges for changing from floating to a fixed rate of interest | Not applicable |
| Stamp Duty & other statutory charges | As per applicable laws of the state |
| Credit assessment charges | Not applicable |
| Nonstandard repayment charges | Not applicable |
| Cheque swapping charges | ₹ 500/- |
| Amortization Schedule charges | ₹ 200/- |
| Loan cancellation charges | NIL (However Interest would be charged for the interim period between the date of loan disbursement and date of loan cancellation and processing fees would be retained) |
| Cheque Bounce Charges | ₹ 550/- per cheque bounce |
| Legal / incidental charges | At actual |
| CIBIL Report Copy Charges | ₹ 50 Per Copy |
Interest Rate, Fees, and Charges (Self Employed Professional)
TABLE WILL APPEAR
Advantages of Jharkhand Gramin Bank Business Loan
Jharkhand Gramin Bank provides various merits by not intefering with the business and the proprietor.
- Comfotable and easy way to get your loans approved.
- Reasonable interest rate and charges.
- Convinant way to repay loans.
- Privacy of the borrower is maintained.
Jharkhand Gramin Bank Business Loan Eligibility Criteria
| Eligibility Criteria | Description |
|---|---|
| Age | 21 to 60 years |
| Minimum Turnover | ₹ 0 |
| Business Existence (in months) | 0 months |
| ITR (months) | 6 months |
| Loan Amount | ₹ 1 Lakh to ₹ 75 Lakh |
| Loan Tenure | 36 months |
| Owned House or Place of Work | Not Required |
| CIBIL Score | 750 and above |
Jharkhand Gramin Bank Business Loan Documents Required
Common Documents:
- Valid Identity Proof: Passport / Ration card / Electricity Bill / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card/ Lease agreement / Sales Tax certificate/Trade licence any document can be submitted.
- Residence Proof: Lease agreement / Passport / Trade license / Electricity Bill / Sales Tax Certificate
- Age Proof: Passport / PAN card / Voter’s identity card
- Financial Documents: Copy of IT returns for the last two years and the latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
- Copy of Bank Statement
- Latest ITR and statement of computation of Income for the last 2 yrs.
- Proof of continuity of business
- Other Mandatory Documents that are Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
- Original Board resolution
- Financials audited/ certified by a CA
Self Employed (Private Ltd. Co. and Partnership Firms)
- Company Identity proof : PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum.
- Proof of identity: must submit with at least two authorized signatories such as 2 Directors including the managing director, with (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license.
- Financial Documents: Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A.
Self Employed Individuals – Professionals
- Identity Proof for Sole Proprietorship: PAN ID / IT return of the concern or Municipal tax, Water bill, and electricity bill in the name of the concern.
- Identity proof for the Sole Proprietor: Passport, Voter’s identity card, Driving license, PAN card.
- Address Proof for the Sole Proprietor: Driving license, Voter’s identity card, Ration card, Passport.
- Financial Documents: Copies of IT returns for the last two years and Bank statements for the last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
Self Employed Individuals – Non Professionals:
- Identity proof: Documents to be submitted for the sole proprietorship as well as for the individual’s (owner) identity.
- Copy of periodic stock, age-wise book-debt and creditors-statement for latest three months.
- Copy of bank statement of main banker/copy of bank statement for the term loan for last months.
- Financial Documents: Profit and Loss balance sheet for the last two years audited by a C.A, Sales tax returns for a minimum of 3 years, and the Copies of IT returns for the last three years.
Business Loan EMI Calculator for Jharkhand Gramin Bank
Emi table of Jharkhand Gramin Bank Business loan:
| Loan Amount | 10 Year Loan | 15 Year Loan | 25 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 24,958 | ₹ 19,871 | ₹ 16,307 |
| ₹ 30 Lakh | ₹ 37,437 | ₹ 29,807 | ₹ 24,461 |
| ₹ 50 Lakh | ₹ 62,395 | ₹ 49,678 | ₹ 40,768 |
Dialabank’s fast and accurate EMI Calculator can be used to calculate your EMI plan.
Compare Jharkhand Gramin Bank Business Loan With Other Banks
| Bank |
HDFC Bank
|
Bank of Baroda
|
|---|---|---|
| Interest Rate | 15.65% – 21.35% | 14.10% |
| Processing Fees | Starting from 0.99%, Max 2.50% | Starting from 1%, Max 2.50% |
| Loan Amount | ₹ 50,000 to ₹ 50 Lakh | ₹ 50,000 to ₹ 75 Lakh |
| Loan Tenure | 12 to 48 Months | 12 to 48 Months |
| Lowest EMI Per Lakh | ₹ 2,816 per lakh | ₹ 3,423 per lakh |
| Part Payment Charges | Not Allowed | Not Allowed |
| Foreclosure Charges | Allowed after 12 months at 2 – 4% | Allowed after 1 EMI’s |
| Borrower’s Age | 21 to 65 Years | 25 to 65 Years |
| Minimum Years in Business Required | 36 Months | 36 Months |
| Minimum Turnover Required | ₹ 1 Cr | ₹ 60 Lakh |
More Banks to compare with Jharkhand Gramin Bank Business Loan:
| Barclays Bank | Canara Bank | Private Bank | ING Vysya Bank |
| HSBC | Citibank | Kotak Mahindra Bank | |
Video: How to apply for Jharkhand Gramin Bank Business Loan
VIDEO WILL APPEAR!
Purpose of Business Loan from Jharkhand Gramin Bank
Obtaining a Business Loan from Jharkhand Gramin Bank can cover and help with:
- Appropriate capital flow can be maintained to ensure smooth business activity.
- Instant availability of working capital to ensure fruitful transactions daily.
- Excute the expansion plans for business growth.
- Maintain and provide for the costs of fixed assets.
- Finance the workhouse to maintain a stable inventory.
EMIs of Several Banks and NBFCs for Different Tenures
Average emi of loan amounts of banks other than Jharkhand Gramin Bank.
| Total Loan Amount | Loan Tenure | ||
|---|---|---|---|
| Loan Amount (Rs.) | 10 years | 15 years | 25 years |
| 2,500,000 | ₹ 31,197 | ₹ 24,839 | 20,384 |
| 5,000,000 | ₹ 62,395 | ₹ 49,678 | 40,768 |
| 7,500,000 | ₹ 93,592 | ₹ 74,516 | 61,152 |
| 10,000,000 | ₹ 1.25 Lakh | ₹ 99,355 | 81,536 |
Other Loan Products from Jharkhand Gramin Bank
| Personal Loan | Gold Loan |
Why should you apply for Jharkhand Gramin Bank Business Loan at Dialabank?
Dialabank is the first helpline service in India that acts as a median between the public and banks. We help minimize your work process by our efficient personnel. You can sort out the best offers of different banks according to your personal needs. DialaBank has been approved by the authorized bodies and their customers.
You can know more about Dialabank by surfing our online page or by calling on 9878981166.
How to calculate EMI for Jharkhand Gramin Bank Business Loan?
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 3,00,000 | 14.10% | 1 | ₹ 26,555 | ₹ 18,661 | ₹ 3,18,661 |
| ₹ 3,00,000 | 14.10% | 2 | ₹ 14,023 | ₹ 36,547 | ₹ 3,36,547 |
| ₹ 3,00,000 | 14.10% | 3 | ₹ 9863 | ₹ 55,063 | ₹ 3,55,063 |
| ₹ 3,00,000 | 14.10% | 4 | ₹ 7796 | ₹ 74,207 | ₹ 3,74,207 |
| ₹ 3,00,000 | 14.10% | 5 | ₹ 6566 | ₹ 93,972 | ₹ 3,93,972 |
Calculate your specific EMIs and interests through Dialabank’s EMI Calculator.
Benefits of Jharkhand Gramin Bank Business Loan
Jharkhand Gramin Bank provides loan to businessmen working for more than 2 years or even salaried individual. The self employed induvidul can execute their exponential plans and not worry about finance or capital requirements. Benefits of choosing Jharkhand Gramin Bank-
- Hassle free process especially through DialaBank.
- Loan up to 5crore can be obtained.
- Guranteer is not required.
- Flexible tenure and easy repayment process through customized EMIs.
- Fast Approvals within a week for smart disposal of funds.
- Interest rates are low comparatively.
- Simple process and lesser paperwork required.
Jharkhand Gramin Bank Business Loan Processing Time
It takes 3 business working days for the officials to approve your application provided you have all the right documents.
Jharkhand Gramin Bank Business Loan Preclosure
Jharkhand Gramin Bank Business Loan Preclosure charges lie in a range of 2% to 3% of the disbursed limit.
Pre Calculated EMI Table for Jharkhand Gramin Bank Business Loan
EMI amount nd plans can depend upon occupation (businessmen, self-employed, salaried), loan amount, loan tenure, and interest rate.
| Loan Amount | 5 Year Loan | 7 Year Loan | 15 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 42,298 | ₹ 32,996 | ₹ 21,248 |
| ₹ 30 Lakh | ₹ 63,446 | ₹ 49,494 | ₹ 31,872 |
| ₹ 50 Lakh | ₹ 1,05,744 | ₹ 82,490 | ₹ 53,120 |
How to Apply for Jharkhand Gramin Bank Business Loan Online?
- Visit Dialabank.
- Click on the loan section and go to the Business Loan link.
- Once you are eligible you can fill in the online application form for Business Loan.
- Our relationship manager will contact and assist you for further process.
- For further information and free guidance, you may call on +919878981166.
Jharkhand Gramin Bank Business Loan Status
You can check the status of your loan by Calling at +919878981166 or by visiting Main Jharkhand Gramin Bank.
Dialabank Jharkhand Gramin Bank Business Loan Customer Care Number
For any queries regarding a business loan, give a call at +919878981166
Dialabank provides a detailed comparison between different banks for you to make the right choice.
Jharkhand Gramin Bank Business Loan FAQs
✅ Is a guarantor or collatoral required for the Jharkhand Gramin Bank Business Loan?
No form of security is required while applying for Jharkhand Gramin Bank Business Loan.
✅ How do I repay my business loan?
It should be repaid through EMIs which can be again customised dependng on your preferences.
✅ What are the minimum and maximum range of tenure of business loans in the Jharkhand Gramin Bank?
The repayment period depends on your loan amount and contract but it usually lies between 12months to 84months.
✅ How much business loan amount I can borrow from the Jharkhand Gramin Bank?
Jharkhand Gramin Bank offers a high maximum of 5crore and a comfortable minimum of Rs 50,000.