Business Loan Amritsar

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Business Loan Amritsar

Best Banks for Business Loan in Amritsar

Feature
HDFC Bank
ICICI 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 Amritsar Features

Business Loan Amritsar

  • Business Loan Amritsar gives an Overdraft facility without any security. 
  • Avail of a loan up to Rs. Forty lakhs (up to Rs. 50 lakhs in some selected areas) without any security.
  • Tenure ranging from 12-48 months.
  • Attractive Rate of Interest @10.45% p.a.
  • No Foreclosure/part Closure shall be permitted during the first six months of the limit setting.
  • Review your Business Growth Loan eligibility online or at any office in just 60 seconds.
  • Loans will be paid based on the previous payment of home loans, auto loans, and credit cards.

Business Loan in Amritsar 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
ICICI 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 Amritsar Documents Required

Salaried Customers:

  • PAN Card of the person availing the Business loan Amritsar.
  • Residence Proof required (Owned/Rented/Company provided) for loans.
  • Passport-sized photos–2.
  • Identity proof needed by the Business loan Pune (Aadhar card/driving license/Voter Id)
  • Payslips of the last three months of the candidate is also required.
  • Bank statements for the previous six months of the person who is asking for a loan.

*NOTE: In the case of rented houses, a rent agreement needs to be attached.

Self-Employed Customers:

  • Aadhar Card
  • Residence verification( Current and Permanent) is needed for applying.
  • Two passport-sized photos of the person applying for a loan.
  • All financial documents are required of the customer(Balance Sheet, P&L Statement as well as ITR files).
  • PAN Card is compulsory for applying.

Business Loan in Amritsar Eligibility Criteria

Salaried Applicants

  • The job position of the applicant should also be mentioned.
  •  A borrower should also have the least income of INR 25,000 per month.
  • The least age of the person should be 21 years and a maximum of 60 years.
  • Work experience of the three years and the payroll should also be received in their accounts only.
  • Candidates must have an excellent credit history.

Self-Employed Applicants

  • The credit score of the individual candidates should be fair, and there should not be any debt or dues left of the individual.
  • The annual income of the applicants should be at least Rs 2.5 lakh.
  • The whole documentation method of the Business loan is that the applicants have to present their financial and bank statements of the previous three months.
  • The least age for an independent person should be 25 years.
  • The applicants asking for the Business loan should need to have a file of ITR for the last three years.
  • The company should be running for the prior three years continuously.

How to Apply for Business Loan in Amritsar?

  1. Visit our website Dialabank
  2. Go to the loan part on the page and click on the Business loan section.
  3. The applicant will address you all the details of the Business loan where they can choose their favoured city, according to their needs.
  4. For more knowledge on Business loans and free administration, you may call on 9878981166.

Processing Fees / Prepayment Charges on Business Loan in Amritsar

Every Bank and NBFC charges a fee for processing your loan request. Processing Fees charged by the Bank or NBFCs on Business Loan Amritsar is up to 2.50% of the loan amount.

If you close your loan before the accepted loan tenure in the documents, every lending company charges you a penal prepayment fee for the loan period agreed beforehand. In most cases, you cannot settle your loan before 12 months from the date of availing the loan. Post that the charges also vary depending on how many years the credit has been done. The Prepayment charges are mentioned 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 Amritsar

CIBIL Score Required for Business Loan Amritsar

Every lending organization has its criteria for the minimum CIBIL score required for processing Business Loan demand Amritsar. Most institutions require the least score of CIBIL of 750 to process your loan application.

The organizations don’t just look at the overall score but also the detailed response on the previous loans taken. This includes details on the type of loan taken and the sum borrowed. Any delayed payments for past loans can act as a hindrance to your availing of a new loan.

Business Loan Amritsar Agents/Broker

Dialabank is the best agent for availing of Business Loan Amritsar.

You can apply online at Dialabank or give a bell at 9878981166.

Business Loan Amritsar Contact Number

Call 9878981166 and get instant help and approval for availing of Business Loan Amritsar.

Pre Calculated EMI Table for Business Loan Amritsar

Rate
5 Yrs
4 Yrs
3 Yrs
10.50%
2149
2560
3250
11.00%
2174
2584
3273
11.50%
2199
2608
3297
12.00%
2224
2633
3321
12.50%
2249
2658
3345
13.00%
2275
2682
3369
13.50%
2300
2707
3393
14.00%
2326
2732
3417
14.50%
2352
2757
3442
15.00%
2378
2783
3466

About Amritsar

Amritsar, historically also identified as Rāmdāspur and colloquially as Ambarsar, is the second-most populated city in the Indian state of Punjab. The city is the official headquarters of the Amritsar district and is found in the Majha region of Punjab.

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