Barclays Bank Business Loan

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Barclays Bank Business Loan

Barclays Bank Business Loan Key Features

Interest Rate 11.20%
Tenure From 12 months to 48 months
Lowest EMI per lakh ₹ 2,594
Loan Amount Min ₹ 50,000 and Max ₹ 75,00,00,000
Part Prepayment, Charges 3%
Early Foreclosure, Charges Allowed after 6 EMI’s
Processing Charges From 2 to 3%
Prepayment Charges up to 3%
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 11.20%
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

Advantages of Barclays Bank Business Loan

Barclays Bank provides customized products to fit in with the requirements of specific customer segments. They offer:

  1. Charge-free NEFT/RTGS transactions and demand drafts.
  2. Annual debit card fee waiver.
  3. A separate current account for seamless reimbursement management.
  4. Seamless and guided digital account opening.
  5. Multiple credit card offerings.
  6. Preferential rates on Home and Personal Loans.
  7. Internet Banking, Mobile Banking, UPI App, Online utility bill payment facility, etc.

Barclays Bank Business Loan Documents Required

Common Documents:

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

* (If a Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm is 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/ ITR or Municipal tax, Water or the electricity bill in the name of the concerned.
  • 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 of the last 2 years and Bank statements of the last 6 months along with the Profit and Loss balance sheet for the last 2 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 of the last 2 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 Business Loan

The following is the EMI calculated table for Business loans:

Loan Amount 10 Year Loan 15 Year Loan 25 Year Loan
₹ 20 Lakh ₹ 27,776 ₹ 22,983 ₹ 19,892
₹ 30 Lakh ₹ 41,665 ₹ 34,475 ₹ 29,838
₹ 50 Lakh ₹ 69,442 ₹ 57,459 ₹ 49,730

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

Compare Barclays Bank Business Loan With Other Banks

Interest Rate 15.65% – 21.35% 11.20%
Processing Fees Starting from 0.99%, Max 2.50% Starting from 1%, Max 3%
Loan Amount ₹ 50,000 to ₹ 50 Lakh ₹ 50,000 to ₹ 100 crore
Loan Tenure 12 to 48 Months 12 to 48 Months
Lowest EMI Per Lakh ₹ 2,816 per lakh ₹ 2,594 per lakh
Part Payment Charges Not Allowed Not Allowed
Foreclosure Charges Allowed after 12 months at 2 – 4% Allowed after 6 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 ₹ 20 Lakh

More Banks to compare with Barclays Bank Business Loan:

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

Purpose of Barclays Bank Business Loan

Availing a Business Loan from Barclays can aid in:

  • Maintaining an unhindered and timely flow of cash to the suppliers.
  • Immediate accessibility to liquidity for financing the daily needs of the business.
  • The loan amount can be used to engender business expansion and meet new costs.
  • Cost cover for purchasing new or upgrading equipment or machinery for the business.
  • Cost cover for 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 Barclays

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

Why should you apply for Barclays Bank Business Loan at Dialabank?

Dialabank is India’s first online banking helpline service. We work as a bridge between you and the bank of your choice by guiding you through and minimizing the labyrinth of complex paperwork and application process. We pride ourselves on our ability to scan through thousands of offers and Customize them as per your requirements.

Dialabank has been approved by its own customers and other authorized bodies and is why it is placed at the top of its competitor’s leaderboard. Know more about Dialabank by visiting us online or by calling on 9878981166.

How to calculate EMI for Barclays Bank Business Loan?

Table Showing EMI, Interest Outgo, and Total Repayment Amount

₹ 3,00,000 11.20% 1 ₹ 26,542 ₹ 18,509 ₹ 3,18,509
₹ 3,00,000 11.20% 2 ₹ 14,010 ₹ 36,245 ₹ 3,36,245
₹ 3,00,000 11.20% 3 ₹ 9,850 ₹ 55,063 ₹ 35,4601
₹ 3,00,000 11.20% 4 ₹ 7,782 ₹ 73,575 ₹ 373575
₹ 3,00,000 11.20% 5 ₹ 6,552 ₹ 93,161 ₹ 3,93,161

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

Benefits of Barclays Bank Business Loan

Barclays offers Business loans to businessmen and self-employed individuals with the objective of financing the expansion or working capital requirements of their business. There are many benefits of availing loan from Barclays:

  • Dropline Overdraft to save interest.
  • High loan amount.
  • No collateral or guarantor is required.
  • The balance transfer option is available.
  • Flexible tenure and easy process.
  • Fast Approvals and disbursals.
  • Low and flexible interest rates.
  • Simple and minimum paperwork required.

Barclays Bank Business Loan Processing Time

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

Barclays Bank Business Loan Pre-closure

Barclays Bank Business Loan’s Pre-closure charges vary between 2% to 2.5% of the disbursed limit.

Pre Calculated EMI Table for Barclays Bank Business Loan

The Loan EMI in Barclays depends upon the occupation (businessmen, self-employed, salaried), loan amount, loan tenure, and interest rate.

How to Apply for Barclays 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 Barclays 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 9878981166.

Barclays Bank Business Loan Status

You can find the loan status by Calling at 9878981166 or by visiting the main Barclays Site.

Dialabank Barclays Bank Business Loan Customer Care Number

To find the solution to your queries regarding a business loan, give a call at 9878981166.

Dialabank helps you to find the best option for Banks and NBFCs by providing you with a detailed market comparison of different banks so that you can make the right choice.

Barclays Bank Business Loan FAQs

✅ Is a guarantor required for the Barclays Bank Business Loan?

No form of security or guarantor is required while applying for Barclays Business Loan.

How do I repay my Barclays Bank Business Loan?

It is repaid through Equated Monthly Installments (EMIs); it can either be through standing instructions or a post-dated cheque.

What are the minimum and maximum tenure of Barclays Bank Business Loan?

These loans are shorter tenure loans. You can repay your loan in a flexible period of a minimum of 12 months to a maximum depending on the type of loan.

How much business loan amount can I borrow from Barclays?

Barclays offers you a loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 75 Lakh.