Bangiya Gramin Vikash Bank Business Loan

Bangiya Gramin Vikash Bank Business Loan Key Features

Bangiya Gramin Vikash Bank Interest Rate 9.75%
Tenure maximum of 5 years
Lowest EMI per lakh ₹ 3,423
Loan Amount up to 1 crores
Part Prepayment, Charges Allowed after 1 EMI’s,
Early Foreclosure, Charges Allowed after 1 EMI’s
Bangiya Gramin Vikash Bank 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
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 9.75%
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 Bangiya Gramin Vikash Bank Business Loan

Bangiya Gramin Vikash Bank outfits its clients with adjusted things, so it fits the necessities of their specific client parcels. Bangiya Gramin Vikash Bank moreover offers:

  1. No hindrance by the oversee an account with how the candidate’s commerce is running.
  2. Bangiya Gramin Vikash Bank Business LoanBoundless free ATM trades at Tamilnad Trade Bank and another bank VISA ATMs in India.
  3. No charges on NEFT/RTGS trades and ask drafts.
  4. Helpful and basic to urge to saves once the progress gets endorsed.
  5. Repayment account – diverse energy speak to steady reimbursement the board.
  6. The staff made a difference in the computerized account opening with Instant Welcome Packs (IWP).
  7. There are sensible financing costs to candidates with a wealthy relationship with the bank.
  8. There are special rates on Individual and Domestic Credits.

Bangiya Gramin Vikash 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 ₹ 8 Lakh
Loan Tenure 36 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Bangiya Gramin Vikash Bank Business Loan Documents Required

Common Documents:

  • Valid Proof for Identity: Passport / Ration card / Electricity Bill / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card/ Lease agreement  / Sales Tax certificate/Trade licence
  •  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.

* (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower

Self Employed (Private Ltd. Co. and Partnership Firms)

  • Identity proof of the company: 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: To be submitted with 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 Bangiya Gramin Vikash Bank

The following is the EMI calculated table for Bangiya Gramin Vikash 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

Calculate EMIs with the help of Dialabank’s fast and accurate EMI Calculator!

Compare Bangiya Gramin Vikash Bank Business Loan With Other Banks

Bank
Interest Rate 15.65% – 21.35% 9.75%
Processing Fees Starting from 0.99%, Max 2.50% Starting from 1%, Max 2.50%
Loan Amount ₹ 50,000 to ₹ 50 Lakh up to 1 crores
Loan Tenure 12 to 48 Months 5 years
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 Bangiya Gramin Vikash Bank Business Loan:

Barclays Bank Canara Bank ICICI Bank ING Vysya Bank
HSBC Citibank Kotak Mahindra Bank

Video: How to apply for Bangiya Gramin Vikash Bank Business Loan

VIDEO WILL APPEAR!

Purpose of Business Loans from Bangiya Gramin Vikash Bank

Profiting a Commerce Credit from Bangiya Gramin Vikash Bank can cover and offer assistance with:

  • The Bank is maintaining a stable cash stream to form instalments to the providers on time.
  • There is instant accessibility of liquidity to back the everyday needs of the business.
  • The credit sum can be utilized to cover up all the costs related to trade expansion.
  • Covers took a toll of buying new or overhauling apparatus or equipment.
  • Covers took a toll of obtaining unused inventories.

EMIs of Several Banks and NBFCs for Different Tenures

The following table shows the approximate values of EMI’s offered by banks and NBFC’s other than Bangiya Gramin Vikash 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 Bangiya Gramin Vikash Bank

Personal Loan Gold Loan

Why should you apply for Bangiya Gramin Vikash Bank Business Loan at Dialabank?

DialaBank is India’s first financial helpline, to begin with, web-based keeping money helpline organization. It fills in as an expansion among you and your favoured bank choice by constraining the mind-boggling regulatory work and application degree. Figuring out an adequate proposition concurring to your necessities is Dialabank’s principal expert card because it has successfully passed on all the ensured terms to each one of its clients with no fizzles.
Its clients have confirmed Dialabank and other endorsed bodies which is the reason it is put on the most noteworthy point of its rival’s leaderboard.

Know more regarding Dialabank by visiting us online or by calling on 9878981166.

How to calculate EMI for Bangiya Gramin Vikash Bank Business Loan?

Table Showing EMI, Interest Outgo, and Total Repayment Amount

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 3,00,000 9.75% 1 ₹ 26,555 ₹ 18,661 ₹ 3,18,661
₹ 3,00,000 9.75% 2 ₹ 14,023 ₹ 36,547 ₹ 3,36,547
₹ 3,00,000 9.75% 3 ₹ 9863 ₹ 55,063 ₹ 3,55,063
₹ 3,00,000 9.75% 4 ₹ 7796 ₹ 74,207 ₹ 3,74,207
₹ 3,00,000 9.75% 5 ₹ 6566 ₹ 93,972 ₹ 3,93,972

You can also calculate the specific loan amount EMIs on Dialabank’s EMI Calculator.

Benefits of Bangiya Gramin Vikash Bank Business Loan

Bangiya Gramin Vikash Bank offers Business advances to independently employed and finance managers for financing the extension or working capital prerequisites of their business. There are numerous advantages of profiting credit from the Bangiya Gramin Vikash Bank:

  • Dropline Overdraft to spare interest.
  • High credit sum up to Rs. 75 Lakh.
  • No insurance or underwriter required.
  • The equilibrium move choice accessible.
  • Adaptable residency and a simple cycle.
  • Quick Approvals and disbursals.
  • Low and adaptable loan costs.
  • Straightforward and least desk work required.

Bangiya Gramin Vikash Bank Business Loan Processing Time

For loan applications for Commercial Banking customers, the Bank will take 30 working days to communicate the decision, once the customer appropriately submits all the information required by the Bank.

Bangiya Gramin Vikash Bank Business Loan Preclosure

Bangiya Gramin Vikash Bank’s Business Loan Preclosure charges vary between 2% to 2.5% of the disbursed limit.

Pre Calculated EMI Table for Bangiya Gramin Vikash Bank Business Loan

The Loan EMI in Bangiya Gramin Vikash Bank depends upon the 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 Bangiya Gramin Vikash Bank Business Loan Online?

  1. Visit Dialabank.
  2. Go to the loan section and click on the Business Loan link.
  3. Check the eligibility criteria for the Business loan offered by Bangiya Gramin Vikash Bank and fill a user-friendly online application form for Business Loan.
  4. One of our relationship managers will soon get in touch with you for further process.
  5. For more information and free guidance, you may call on +919878981166.

Bangiya Gramin Vikash Bank Business Loan Status

You can find the loan status by Calling at +919878981166 or by visiting Main Bangiya Gramin Vikash Bank Site.

Dialabank Bangiya Gramin Vikash Bank Business Loan Customer Care Number

To find the clarification to your inquiries about a business loan, give a call at +919878981166

Dialabank helps you to find the best decision of Banks and NBFCs by presenting you with a thorough market comparison of several banks so that you can make the right decision.

Bangiya Gramin Vikash Bank Business Loan FAQs

✅ Is a guarantor required for the Bangiya Gramin Vikash Bank Business Loan?

No form of security is required while applying for Bangiya Gramin Vikash Bank’s Business Loan.

 How do I repay my business loan?

EMIs should repay it via paying guidance and post-dated cheque.

✅ What are the minimum and maximum range of tenure of business loans in the Bangiya Gramin Vikash Bank?

These loans are more abbreviated tenure loans. You can repay your loan in a compliant period of a minimum of 12 months to a maximum of 48 months.

✅ How much business loan amount I can borrow from the Bangiya Gramin Vikash Bank?

Bangiya Gramin Vikash Bank Bank offers you a loan if you need a minimum amount of ₹ 1 crores.

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