Baroda Gujarat Gramin Bank Business Loan

Baroda Gujarat Gramin Bank Business Loan Key Features

Baroda Gujarat Gramin Bank Interest Rate 11.2%
Tenure up to 36 months
Lowest EMI per lakh ₹ 3,423
Loan Amount Min ₹ 1 Lakh and Max ₹ 8 Lakh
Part Prepayment, Charges Allowed after 1 EMI’s,
Early Foreclosure, Charges Allowed after 1 EMI’s
Baroda Gujarat Gramin 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 11.2%
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 Baroda Gujarat Gramin Bank Business Loan

Baroda Gujarat Gramin Bank furnishes its clients with modified items, so it fits the necessities of their particular client portions. Baroda Gujarat Gramin Bank additionally offers:

  1. No obstruction by the manage an account with how the candidate’s business is running.
  2. Baroda Gujarat Gramin Bank Business LoanBoundless free ATM exchanges at Tamilnad Mercantile Bank and another bank VISA ATMs in India.
  3. No charges on NEFT/RTGS exchanges and request drafts.
  4. Helpful and simple to get to reserves once the advance gets endorsed.
  5. Repayment account – a different momentum represents consistent repayment the board.
  6. The staff helped the computerized account opening with Instant Welcome Packs (IWP).
  7. Sensible financing costs to candidates with a rich relationship with the bank.
  8. Special rates on Personal and Home Loans.

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

Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank

The following is the EMI calculated table for Baroda Gujarat 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

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

Compare Baroda Gujarat Gramin Bank Business Loan With Other Banks

Bank
Interest Rate 15.65% – 21.35% 11.2%
Processing Fees Starting from 0.99%, Max 2.50% Starting from 1%, Max 2.50%
Loan Amount ₹ 50,000 to ₹ 50 Lakh ₹ 1 lakhs to ₹ 8 Lakh
Loan Tenure 12 to 48 Months 36 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 Baroda Gujarat Gramin Bank Business Loan:

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

Video: How to apply for Baroda Gujarat Gramin Bank Business Loan

VIDEO WILL APPEAR!

Purpose of Business Loans from Baroda Gujarat Gramin Bank

Availing a Business Loan from Baroda Gujarat Gramin Bank can cover and help with:

  • Maintaining a healthy cash flow to make payments to the suppliers on time.
  • Instant availability of liquidity to finance the everyday needs of the business.
  • The loan amount can be used to cover up all the expenses related to business expansion.
  • Covers cost of buying new or upgrading machinery or equipment.
  • Covers cost of purchasing new 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 Baroda Gujarat 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 Baroda Gujarat Gramin Bank

Personal Loan Gold Loan

Why should you apply for Baroda Gujarat Gramin Bank Business Loan at Dialabank?

DialaBank is India’s first web-based banking helpline administration. It fills in as an extension among you and your favoured bank decision by limiting the mind-boggling administrative work and application measure. Figuring out the best proposal according to your necessities is Dialabank’s fundamental ace card as it has effectively conveyed all the guaranteed terms to every one of its clients with no fizzles.

Its clients have affirmed Dialabank and other approved bodies and that is the reason it is put on the highest point of its rival’s leaderboard.

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

How to calculate EMI for Baroda Gujarat Gramin 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 11.2% 1 ₹ 26,555 ₹ 18,661 ₹ 3,18,661
₹ 3,00,000 11.2% 2 ₹ 14,023 ₹ 36,547 ₹ 3,36,547
₹ 3,00,000 11.2% 3 ₹ 9863 ₹ 55,063 ₹ 3,55,063
₹ 3,00,000 11.2% 4 ₹ 7796 ₹ 74,207 ₹ 3,74,207
₹ 3,00,000 11.2% 5 ₹ 6566 ₹ 93,972 ₹ 3,93,972

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

Benefits of Baroda Gujarat Gramin Bank Business Loan

Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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.

Baroda Gujarat Gramin 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.

Baroda Gujarat Gramin Bank Business Loan Preclosure

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

Pre Calculated EMI Table for Baroda Gujarat Gramin Bank Business Loan

The Loan EMI in Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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.

Baroda Gujarat Gramin Bank Business Loan Status

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

Dialabank Baroda Gujarat Gramin 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.

Baroda Gujarat Gramin Bank Business Loan FAQs

✅ Is a guarantor required for the Baroda Gujarat Gramin Bank Business Loan?

No form of security is required while applying for Baroda Gujarat Gramin 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 Baroda Gujarat Gramin 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 Baroda Gujarat Gramin Bank?

Baroda Gujarat Gramin Bank Bank offers you a loan if you need a minimum amount of ₹1 lakhs to a maximum amount of ₹ 8 Lakh.

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