Best Banks for Business Loan in Kottayam
Business Loan in Kottayam Features
- Business Loan Kottayam is available at affordable interest rates.
- Simple and easy documentation- An applicant will need to submit all of the documents only once.
- You can easily repay the whole loan amount within a tenure period of 12-60 months.
- Minimal paperwork is required for Business Loan Kottayam.
- Flexible loan terms and conditions.
- Simple and easy loan processing.
Business Loan in Kottayam Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Business Loan in Kottayam Documents Required
Salaried Customers:
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PAN Card of the individual making use of the loan from the company.
- The applicant‘s payslips for the last three months are also required.
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Residence Proof required for loans (Owned / Rented / Company provided).
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Passport-sized pictures-2.
- Bank statements of the person applying for a loan for the previous 6 months.
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Identity evidence required by the Business Loan (Aadhar Card / Driving License / Voter I d)
*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.
- All financial documents are needed of the customer(Balance Sheet, P&L Statement as well as ITR files).
- PAN Card is compulsory for applying.
- Two passport-sized photos of the person applying for a loan.
Business Loan in Kottayam Eligibility Criteria
Salaried Applicants:
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It should also note the applicant’s job position.
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The lowest salary of INR 25,000 per month should also be for a borrower.
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An individual should have a minimum age of 21 years and a maximum age of 60 years.
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Job experience of the three years and the payroll should also be earned in their accounts only.
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Candidates must have an excellent credit background
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 company should be running for the prior three years continuously.
- 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 annual income of the applicants should be a least Rs 2.5 lakh.
- The applicants asking for the Business loan should need to have a file of ITR for the last three years.
How to Apply for Business Loan in Kottayam?
- Visit our website Dialabank
- Go to the loan part on the page and click on the Business loan section.
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The borrower will provide you with all the details of the business loan, where they can pick their favoured city according to their needs.
- For more information on Business loans and free administration, you may call on 9878981166.
Processing Fees / Prepayment Charges on Business Loan in Kottayam
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 Kottayam
Business Loan Kottayam Contact Number
Call 9878981166 and get instant help and approval for availing of Business Loan Kottayam.
Pre Calculated EMI Table for Business Loan Kottayam
