ING Vysya Bank Business Loan

ING Vysya Bank Business Loan Key Features

ING Vysya Bank Interest Rate 11.2%
Tenure From 3 to 7 years
Lowest EMI per lakh ₹ 785
Loan Amount Max. up to Rs. 25 lakh
Part Prepayment, Charges 2% will be charged on the amount pre-paid.
Early Foreclosure, Charges 5 to 6% of loan amount + GST
ING Vysya Bank Processing Charges 0.75% of the loan amount.
Prepayment Charges 2% of Principal Outstanding Amount
Repayment Period 12 – 48 months
Prepayment Condition No pre-payment permitted until repayment of 6 EMIs
Collateral Not required

Interest Rate, Fees, and Charges (Self Emp Non-Professional)

Facility Charges
Interest Rate Charges 11.2%
Loan Processing Charges 0.75% of the loan amount.
Prepayment 2% will be charged on the amount pre-paid.
No Due Certificate / No Objection Certificate (NOC) NIL
Duplicate no due certificate / NOC NIL
Solvency Certificate Not applicable
Charges for late payment of EMI 3.00% p.a. on the arrears / overdue amount
Charges for changing from fixed to floating rate of interest Not applicable
Charges for changing from floating to a fixed rate of interest Not applicable
Stamp Duty & other statutory charges As per applicable laws of the state
Credit assessment charges Not applicable
Nonstandard repayment charges Not applicable
Cheque swapping charges ₹ 500/-
Amortization Schedule charges ₹ 200/-
Loan cancellation charges NIL (However Interest would be charged for the interim period between the date of loan disbursement and date of loan cancellation and processing fees would be retained)
Cheque Bounce Charges ₹ 550/- per cheque bounce
Legal / incidental charges At actual
CIBIL Report Copy Charges ₹ 50 Per Copy

Interest Rate, Fees, and Charges (Self Employed Professional)

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Advantages of ING Vysya Bank Business Loan

some advantages of ING Vysya bank business loan-

  • Unlimited free ATM transactions at ING Vysya and another bank VISA ATMs in India
  • No charges will apply to services like NEFT/RTGS transactions and demand drafts.
  • If your credit score will be good there may be a chance of a low-interest rate.
  • Less paperwork is needed to get an ING Vysya bank business loan.
  • You can use ING Vysya bank business loans in your flexible way.
  • You can get multiple credit cards.
  • You can simply pay by Internet Banking, Mobile Banking, SimplyPay UPI App, Online utility bill payment facility, etc
  • Now you don’t need to worry if you don’t have a minimum balance for CEP accounts, you can receive a salary without it also.

Eligibility Criteria of ING Vysya Bank Business Loan

Eligibility Criteria Description
Age 21 to 65 years
Minimum Turnover ₹ 0
Business Existence (in months) 12 months
ITR (months) 0 months
Loan Amount Rs.70 lakhs (Based on your repayment capability)
Loan Tenure 6 to 60 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above


ING Vysya Bank Business Loan Documents Required

List of Common Documents

  • Voter ID card / Driving License/ PAN Card and MAPIN card are some documents required for Identity proof
  • Passport /Ration card /Electricity Bill/ Sales Tax certificate/Trade license are some documents required for Proof of Residence.
  • Copy of  Bank Statement
  • Latest ITR and statement of computation of Income for the last 2 yrs.
  • Proof of continuity of business
  • Other Mandatory Documents that are Certified copy of Memorandum & Articles of Association certified by a director, Sole Proprietorship Declaration.
  •  Financials audited/ certified  by a CA
  • Application form with the applicant’s signature and photograph.
  • For Valid Proof for Identity: Sales Tax certificate, Trade license, Lease agreement, Ration card, Electricity Bill, Passport.
  • For Residence Proof: Ration card Tel, Lease agreement, Electricity Bill, Passport, Trade license, Sales Tax certificate
  • Age Proof: Passport, PAN card, Voter’s identity card
  • Financial Documents: Copy of IT returns for the last two years and the latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.

Self Employed (Private Ltd. Co. and Partnership Firms)

  • Identity proof of private limited company: PAN Card, VAT, Service Tax, Sales tax,  IT return of the concern/ Electricity bill /Water bill/ Registration under Shops Articles of Association, and Memorandum.
  • Proof of identity to be submitted for the authorized signatories (2 Directors which includes the managing director) (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license

Self Employed Individuals – Professionals

  •  Sole proprietorship need his/her identity proof
  • PAN Card /Income tax return or Water bill, and electricity bill in the name of the concern
  •  Passport, Driving license, Voter’s identity card, PAN card must be submitted by a sole proprietor for identification.
  • For the Address Proof for the Sole Proprietor he needs Driving license, Voter’s identity card, Ration card, Passport

Self Employed Individuals – Non Professionals:

  • Sole proprietorship need to submit his/her  id proof such as Passport, Voter’s identity card, Driving license
  • Individual identity proof
  • Last 3 years sales tax return
  • Photocopy of periodic stock, creditors-statement for the latest three months, and age-wise book-debt.
  • Photocopy of bank statement of main banker/copy of bank statement for the term loan for last  months
  • Last 3 years Income tax returns

It is mandatory to fill in the Business Loan Application form, irrespective of which business loan you are looking for, without the application the loan will not be processed.

Business Loan EMI Calculator for ING Vysya

Loan Amount 10 Year Loan 15 Year Loan 25 Year Loan
₹ 20 Lakh ₹ 24,958 ₹ 19,871 ₹ 16,307
₹ 30 Lakh ₹ 37,437 ₹ 29,807 ₹ 24,461
₹ 50 Lakh ₹ 62,395 ₹ 49,678 ₹ 40,768

Calculate EMIs with the help of Dialabank’s fast and accurate EMI Calculator!

Compare with Business Loan from other Banks

Bank
Interest Rate 15.65% – 21.35% 11.2%
Processing Fees Starting from 0.99%, Max 2.50% No fee up to 5 lakhs
Loan Amount ₹ 50,000 to ₹ 50 Lakh Max up to Rs. 20 lakh
Loan Tenure 12 to 48 Months 6 to 60 Months
Lowest EMI Per Lakh ₹ 2,816 per lakh ₹ 785 per lakh
Borrower’s Age 21 to 65 Years 21 to 65 Years
Minimum Years in Business Required 36 Months 36 Months
Minimum Turnover Required ₹ 1 Cr ₹ 60 Lakh

Video: How to apply for ING Vysya Bank Business Loan

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Purpose of Business Loan from ING Vysya

  •  Expansion of your business and stock – If you are planning to expand your business or want to increase your stock, want to add more capital so you can go for a business loan.
  • Cash flow – It is always a hard part for small businesses and it always is a headache for your business until the customer will pay you which will lead to in and out of cash in your business.
  • To Improve Terms on a Larger Loan – If you are planning for a huge amount of loan in the future to upgrade your business or machinery so it will a suggestion to may the previous loan to maintain a good credit score.

EMIs of Several Banks and NBFCs for Different Tenures

EMI for different Business Loan amounts and tenures. Here you can compare which is pocket friendly to you.

Total Loan Amount Loan Tenure
Loan Amount (Rs.) 10 years 15 years 25 years
2,500,000 ₹ 31,197 ₹ 24,839 20,384
5,000,000 ₹ 62,395 ₹ 49,678 40,768
7,500,000 ₹ 93,592 ₹ 74,516 61,152
10,000,000 ₹ 1.25 Lakh ₹ 99,355 81,536

Other Loan Products from ING Vysya 

Personal Loan Gold Loan
Car Loan Education Loan

Why should you apply for ING Vysya Bank Business Loan at Dialabank

  1. This is the best platform to apply and get all help and assistance to avail of these loans, which is for free.
  2. It provides the best service in the country by evaluating the bank’s services, not by its reputation.
  3. Dialabank’s assistance advantage is that it provides the least rate of interest on business loans in the market.
  4. This service also provides documentation at the doorsteps. That means no bank visits.
  5. Dialabank also assists with the least paperwork.
  6. Dialabank has earned a reputation from the customers by helping them and the bank loans are provided directly from the banks, so there is no risk involved in the fraud.
  7. Know more about Dialabank by visiting us online or by calling on 9878981166.

How to calculate EMI for ING Vysya Bank Business Loans?

Table Showing EMI, Interest Outgo, and Total Repayment Amount

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 3,00,000 14.10% 1 ₹ 26,555 ₹ 18,661 ₹ 3,18,661
₹ 3,00,000 14.10% 2 ₹ 14,023 ₹ 36,547 ₹ 3,36,547
₹ 3,00,000 14.10% 3 ₹ 9863 ₹ 55,063 ₹ 3,55,063
₹ 3,00,000 14.10% 4 ₹ 7796 ₹ 74,207 ₹ 3,74,207
₹ 3,00,000 14.10% 5 ₹ 6566 ₹ 93,972 ₹ 3,93,972

You can also calculate the specific loan amount EMIs on Dialabank’s EMI Calculator.

Benefits of ING Vysya Bank Business Loans

  1. ING Vysya Bank business loan helps to purchase assets for business which will help you in expansion.
  2. ING Vysya Bank will help you in the cash flow of your business.
  3. Increment in sales and business growth.
  4. ING Vysya Bank required less paperwork, so the process will be hurdle free and fast.
  5. If your credit history will be good there are chances you may have to pay a low-interest rate.

ING Vysya Bank Business Loan Processing Time

Banks get on their decision of proving loans to applicants within 30 days of submitting a loan application. However, some banks also offer instant loan offers, which can be approved within a few hours to 2-3 days. The turnaround time for an ING Vysya bank Bank instant loan can be 2 to 3 days

ING Vysya Bank Business Loan Preclosure

Business Loan Preclosure charges are 2% of the disbursed limit.

Pre Calculated EMI Table for ING Vysya Bank Business Loan

Loan Amount 5 Year Loan 7 Year Loan 15 Year Loan
₹ 20 Lakh ₹ 42,298 ₹ 32,996 ₹ 21,248
₹ 30 Lakh ₹ 63,446 ₹ 49,494 ₹ 31,872
₹ 50 Lakh ₹ 1,05,744 ₹ 82,490 ₹ 53,120

How to Apply for ING Vysya Bank Business Loan Online?

  1. Visit Dialabank
  2. Go to the loan section and click on the ING Vysya Bank business loan link.
  3. The applicant will be directed to all details of the business Loan where they can choose their preferred bank.
  4. For more information and free guidance, you may call on 9878981166.
  5. Fill a user-friendly online application form for  ING Vysya Bank Business Loan.

ING Vysya Bank Business Loan Status

You can find the loan status by Calling +919878981166 or by visiting the Main branch of ING Vysya Bank

Dialabank ING Vysya Bank Business Loan Customer Care Number

Dialabank is the leading agent for availing ING Vysya Bank Business Loan. You can apply online at Dialabank or give a call at +919878981166

Dialabank helps you to find the best option of Banks and NBFCs by providing you with a detailed market comparison of different banks so that you can make the right choice.

FAQs

How much loan amount applicant can get through business loan ING Vysya Bank?

From rs 50,000 to INR 4,000,000 and also depend on applicant income.

How do I repay my ING Vysya Bank business loan?

It should be repaid through EMIs- Equated Monthly Installments; it can either be through standing instructions and post-dated cheque.

Do applicants need any security thing to get an ING Vysya Bank business loan?

No, they don’t need to put any security to get a loan.

✅ Who are eligible for an ING Vysya Bank business loan?

Public and private companies, sole trader, and a partnership firm.