Business Loan Chennai

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All About Business Loan Chennai

Business Loan Chennai

Call us on 044-60011600

 


Business Loan Chennai Do you want to expand your business more but do not have appropriate funds? Do not worry when Business Loan is there for you to boost your business more. It is a loan that can be acquired to finance in your business projects for further expansion and growth of the business.

 

Business Loan Chennai Interest Rates:

 

Bank Business Loan Interest Rate Minimum Loan Amount Maximum Loan Amount Get The Best Offer
Bajaj Finance 18 % Onwards 1 Lakh 30 lakh Apply Now
Fullerton India 18 % – 22.5 % 1 Lakh 30 lakh Apply Now
HDFC Bank 18 % – 22 % 1 Lakh 30 lakh Apply Now
ICICI Bank 18 %-22 % 2 Lakh 30 lakh Apply Now
Standard Chartered Bank 19% 2 Lakh 20 lakh Apply Now
Tata Capital 19.5% – 20.5% 2 Lakh 25 lakh Apply Now
IDBI Bank 19.25% 2 Lakh 25 lakh Apply Now
Punjab National bank 19% – 24% 2 Lakh 20 lakh Apply Now
Axis Bank 19.75% 2 Lakh 25 lakh Apply Now
SBI  19.50% 2 Lakh 15 lakh Apply Now

 

 

Features and Benefits of Business Loan Chennai

  • No security requirement: Business loan do not need to pledge any collateral to the bank.
  • For every business needs: Business Debt can be used for almost every business purpose without knowing the reason of availing the loan.
  • Less processing time: Business debt takes less time to get approved.
  • Less paperwork involved: Business Finance requires only small set of documents like ITR proof and turnover..
  • Easily available: Business loan requires only 5-7 days to get approved.

 

Who is eligible for Business Loan Chennai?

Self Employed People are eligible for availaing Business Loan. Here is the eligibility criteria for these individuals:

 

  • Minimum Loan amount available: Rs. 50,000
  • Maximum loan amount available: Rs. 2,00,00,000
  • Minimum Income (annual):Rs. 1, 50,000
  • Minimum age: 21 Years & Maximum Age at loan maturity: 65 Years
  • Minimum Turnover in Business: Rs 40 Lacs per annum
  • Minimum Experience in Business: Minimum 3 years experience in the current business and total 5 years business experience. Business must be continuously making a profit from last 2 years.
  • Business should be filling 2.5 lacs to 3.5 Lacs ITR per annum.

 

Documentation for Business Loan Chennai 

  • Identity Proof (Passport Copy/ Voters ID Card/ Driving License)
  • Proof of Address (Ration Card/ Telephone Bill/ /Electricity Bill/ Passport)
  • Bank Statements (latest 6 months bank statement /passbook)
  • Latest ITR, along with computation of income
  • Balance Sheet & P&L Account for the last 2 Yrs, certified by a CA
  • Qualification Proof of the Highest Professional Degree
  • Proof of Continuation (Trade license /Establishment /Sales Tax Certificate)
  • Other Mandatory Documents (Sole Proprietorship – Declaration, Partnership – Copy of Partnership Deed, Apart from Copy of MOA, AOA & Board Resolution)
  • Two passport size photographs

 

About Chennai

Chennai is the capital city of Tamil Nadu state formerly known as Madras. It is commonly known as the Cultural Capital of South India. The whole economy of Chennai revolves around automobile, computers, IT and manufacturing industries. It has got nickname “Detroit of India” as the main part of the automobile industry is based in Chennai.

 

 

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