Business Loan Ranchi

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Business Loan Ranchi

Best Banks for Business Loan in Ranchi

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 Ranchi FeaturesBusiness Loan Ranchi

  • Business Loan Ranchi provides an overdraft convenience without any security.
  • Get maximum loan amount up to Rs. 40 lakhs (up to Rs. 50 lakhs in some locations) without any security
  • Inexpensive Interest Rate at 10.45% per annum
  • Loan Tenure period varying from 12 – 48 months
  • No foreclosure/ part closure will be allowed during the first six months of the limit setting.
  • No guarantor is needed.
  • Check out your Business Loan eligibility online or at any bank office within 60 seconds.
  • Loan disbursal depends on the previous refund of home loans, auto loans, and credit cards.

Business Loan in Ranchi 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 Ranchi Documents Required

Salaried Applicants:

  1. PAN Card 
  2. Residence Proof (Owned/Rented/Company provided)
  3. Two Passport-sized photographs 
  4. Identity proof (Aadhar card/driving license/Voter Id)
  5. Salary slips of the last three months
  6. Bank statements for the previous six months

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

Self-Employed Applicants:

  1. Aadhar Card 
  2. Residence Proof( Current and Permanent)
  3. Two passport-sized photographs 
  4. All financial reports(Balance Sheet, P&L Statement, as well as ITR files).
  5. PAN Card

Business Loan in Ranchi Eligibility Criteria

Salaried Applicants:

  1. The workplace of the applicant should be mentioned.
  2.  An applier should have a minimum earning of INR 25,000/month.
  3. The minimum age of the applicant should be 21 years and a maximum of 65 years.
  4. Work experience of the three years and the earning must be received in their bank accounts only.
  5. Applicants should have an outstanding credit history.

Self-Employed Applicants:

  1. The credit score of the individual applicants should be fair, and there must not be any debt or dues left of the individual.
  2. The yearly income of the customers should be a minimum of Rs 2.5 lakh.
  3. The entire documentation process of the business loan is that the applicants have to present their financial and bank statements for the last three months.
  4. The minimum age required for an applicant should be 25 years.
  5. The applicants applying for the business loan should require 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 continuously.

How to apply for Business Loan in Ranchi?

  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 favourable city, according to their needs.
  4. For more information on business loans and free assistance, you may call on 9878981166.

PERSONAL LOAN

Interest Rate 9.99%

+91

Processing Fees / Prepayment Charges on Business Loan in Ranchi

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

If you close your loan before the agreed loan tenure duration in the documents, every lending foundation charges you a penal prepayment fee for the loan duration agreed earlier. In most cases, you cannot close the loan before 12 months duration from the date of availing the loan. After that, the prepayment charges are dependent on how many years the loan has done.

The prepayment charges on Business Loan in Ranchi 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 Ranchi

CIBIL Score required for Business Loan Ranchi

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

Apart from the CIBIL score, the organizations look for the detailed behaviour on the previous loans that you have taken. This involves the type of loan taken and the loan amount borrowed. Any late payments of earlier loans can act as a barricade for getting a new loan.

Business Loan Ranchi Agents/Broker

Dialabank is the best agent for availing Business Loan in Ranchi. You can easily apply online for a Business Loan at Dialabank or contact us at 9878981166.

Business Loan Ranchi Contact Number

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

Pre-Calculated EMI Table for Business Loan Ranchi

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 Ranchi

Ranchi is the largest city of Gujarat, situated on the banks of the Sabarmati River. It is referred to as home to various textile industries. It is the 2nd largest producer of cotton in India.

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