Business Loan Srikakulam

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Best Banks for Business Loan in Srikakulam

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 Srikakulam Features

Business Loan Srikakulam offers an Overdraft facility without any protection.
Avail of a loan of up to Rs. Forty lakhs (in some selected places, up to Rs. 50 lakhs) without any protection.
Tenure for a period of 12-48 months.
Attractive Interest Rate @10.45% p.a.
For the first six months of the limit setting period, no foreclosure/part closing is allowed.
In just 60 seconds, check your Company Development Loan eligibility online or at any office.
Loans can be charged based on past home loan installments, car loans, and credit cards.

Business Loan in Srikakulam 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 Srikakulam Documents Required

Salaried Customers:

PAN Card of the individual making use of the loan from the firm.
Residence Evidence required for loans (Owned / Rented / Company provided).
Passport-sized pictures-2.
Identity evidence provided by the Srikakulam Business Loan (Aadhar Card / Driving License / Voter I d)
The applicant’s payslips for the last three months are also required.
Bank accounts of the person applying for a loan for the previous six months.

NOTE: Leasing contracts need to be inserted in the case of leased properties.

Self-Employed Customers:

Card Aadhar
To apply, residence verification (current and permanent) is required.
Two passport-sized pictures of the person asking for a loan.
The client wants all financial records (Balance Sheet, P&L Analysis, as well as ITR files).
It is mandatory to apply for a PAN Passport.

Business Loan in Srikakulam Eligibility Criteria

Salaried Applicants

It should also note the applicant’s work position.
The lowest salary of INR 25,000 a month may also be for a creditor.
The minimum age for a person should be 21 years, and the highest age should be 60.
The three-year work experience and payroll can also be gained only in their accounts.
Candidates would have a distinguished history of credit.

Self-Employed Applicants

It should be equal to the credit score of the shortlisted candidates, and no debt or dues should be left with the person.
The applicants’ annual revenue should be a minimum of Rs 2.5 lakh.
The full documentation of the business loan system is that the borrowers are expected to apply their financial and bank accounts for the intervening three months.
For an adult citizen, the minimum age should be 25 years.
Applicants seeking a business loan may have been allowed to have an ITR file for the last three years.
The business could continue to operate from the previous three years onwards.

How to Apply for Business Loan in Srikakulam?

Meet Dialabank on our homepage
On the tab, go to the loan segment and click on the Business Loan tab.
The borrower can supply you with all the specifics of the business loan Srikakulam where, according to their preferences, they will select their preferred city.
You should dial 9878981166 for more information on Business Loan Srikakulam and Free Management.

Processing Fees / Prepayment Charges on Business Loan in Srikakulam

For the processing of your loan applications, every bank and NBFC charges a fee. The payment fees paid on Business Loan Srikakulam by the bank or NBFCs are up to 2.50 per cent of the amount of the loan.

Every financing firm charges you a penal prepayment fee for the loan term negotiated in advance if you close the loan before the approved loan duration in the agreements. In most cases, the debt will not be repaid within 12 months of the date on which the debt is used. The costs may vary based on how many years the loan has been taken out. Below are the Prepayment Charges:

07-24 Months – 4% of Principal Outstanding
>36 Months – 2% of Principal Outstanding
25-36 Months – 3% of Principal Outstanding

Business Loan EMI Calculator Srikakulam