Business Loan Meerut

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Business Loan Meerut

Best Banks for Business Loan in Meerut

Feature
HDFC Bank
Private 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 Meerut Features

  • Business LoanBusiness Loan Meerut provides an overdraft facility without any security
  • Avail maximum loan amount up to Rs. 40 lakhs ( up to Rs. 50 lakhs in some locations) without any collateral
  • Affordable Rate of Interest starts at 10.45% per annum
  • Loan Tenure Duration ranging from 12 – 48 months
  • No foreclosure/ part closure will be allowed during the first 6 months of the limit setting
  • No requirement of a guarantor
  • Check out your eligibility of Business Loan online or at any bank branch in just 60 seconds.
  • Loan disbursal is dependent on the previous repayment of home loans, auto loans, and credit cards.

Business Loan in Meerut 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
Private 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 Meerut Documents Required

Salaried Applicants:

  1. PAN Card of the consumer for getting a Business Loan.
  2. Residence Evidence required (Owned/Rented/Company provided) for loans.
  3. Two Passport-sized photographs
  4. Identity proof required for the Business Loan Meerut (Aadhar card/driving license/Voter Id)
  5. Salary slips of the last three months of the applier are required.
  6. Bank statements for the last 6 months of the person applying for a Business Loan.

*NOTE: In case of rented accommodations, the rental agreement must be attached.

Self-Employed Applicants:

  1. Aadhar Card is needed to get the loan.
  2. Residence Proof( Current and Permanent) is required for applying.
  3. Two passport-sized photographs of the applicant applying for a business loan.
  4. All financials are needed of the applicant(Balance Sheet, P&L Statement as well as ITR files).
  5. PAN Card

Business Loan in Meerut Eligibility Criteria

Salaried Applicants

  1. The work location of the applicant must also be mentioned.
  2.  A borrower should have a minimum earning of INR 25,000/month
  3. The minimum age of the consumer should be 21 years and a maximum of 65 years.
  4. Work experience of the three years and the salary should be received in their bank accounts.
  5. Candidates should have an excellent credit history.

Self-Employed Applicants

  1. The credit score of the applicants should be good and there must not be any debt or dues left of the individual.
  2. The yearly income of the candidates should be a minimum of Rs 2.5 lakh.
  3. The entire documentation process of the business loan is that the candidates have to present their financial and bank statements for the previous three months.
  4. The least age for an independent person must be 25 years.
  5. The applicants applying for the business loan should need to have a file of ITR for the last three years.
  6. For the businessmen, the business should be functioning from the past three years.

How to apply for Business Loan in Meerut?

  1. Visit our website Dialabank.
  2. Go to the loan section on the page and press the business loan link.
  3. The applicant will be directed to all the details of the business loan where they can choose their preferred city, according to their needs and preferences.
  4. For more information on business loans and free assistance, you may call on 9878981166.

Processing Fees / Prepayment Charges on Business Loan in Meerut

Every Bank and NBFC charges a fee for processing your Business Loan application. Business Loan Meerut charges a processing fee of up to 2.50% of the loan amount.

If you wish to close your loan before the agreed loan tenure in the documents, every lending institution charges you a penal prepayment fee for the loan duration agreed earlier. In most cases, you can’t close the loan before the duration of 12 months from the date of availing the loan. After that, the prepayment charges depend on how many years the loan has done.

The prepayment charges on Business Loan in Meerut are:

  • 07-24 Months – 4% of Principal Outstanding
  • 25-36 Months – 3% of Principal Outstanding
  • For more than 36 months, the charges up to 2% of Principal Outstanding

Business Loan EMI Calculator Meerut

CIBIL Score required for Business Loan Meerut

Every lending institution has its criteria for the minimum CIBIL score required for processing the Business Loan application in Meerut. Most foundations require a minimum score of CIBIL of 750 to process your Business Loan Meerut application.

Apart from the CIBIL score, the foundations also check the record of the previous loans that you have taken. It covers details of the type of loan taken and the loan amount borrowed. If there are any late payments for previous loans, then it can act as a barricade to your availing of a new loan.

Business Loan Meerut Agents/Broker

Dialabank is the best agent for availing Business Loan in Meerut.

You can easily apply online for a Business Loan at Dialabank or contact at 9878981166

Business Loan Meerut Contact Number

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

Pre-Calculated EMI Table for Business Loan Meerut

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 Meerut

Meerut is a city in the Uttar Pradesh state, India. It lies at a distance of 70 km northeast of the national capital New Delhi. Meerut is one of the largest producers of sports goods. Also, the largest producers of musical instruments in India.

Major Localities in Meerut for availing Business Loan

Business Loan Jhansi Business Loan Gonda
Business Loan in Varanasi Business Loan Faizabad
Business Loan Hapur Business Loan Etah
Business Loan Gorakhpur Business Loan Deoria

FAQs About Business Loan Meerut

✅ What are the minimum and maximum loan amounts I can get as a business loan Meerut?

The minimum loan amount offered in a business loan Meerut is Rs. 5,000 and the maximum loan amount can extend up to Rs. 2 crores, depending on the requirements and eligibility.

✅ What is the age limit of availing a business loan Meerut?

The age limit is usually 21-65 years for availing of a business loan Meerut.

✅ What is the tenure period for business loan Meerut repayment?

You can repay the Meerut loan amount in a minimum of 12 months and a maximum of up to 5 years, depending on the respective bank or NBFC. Some institutes in Meerut may even extend the tenure period.