Uttar Bihar Gramin Bank Business Loan

 

Uttar Bihar Gramin Bank Business Loan Key Features

Bank Interest Rate 10.70 % 
Tenure From 12 months to 60 months
Lowest EMI per lakh ₹ 1,849
Loan Amount Min ₹ 10 Lakh and Max ₹ 5 Crore
Part Prepayment, Charges NA
Early Foreclosure, Charges The foreclosure charge will be 2% + ST if loan closed after 12 months from the date of 1st disbursement.
 Bank Processing Charges 1% of the loan amount
Prepayment Charges NA
Repayment Period From 12 months – 60 months
Prepayment Condition No pre-payment permitted until repayment of 6 EMIs

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

Facility Charges
Interest Rate Charges 10.70 %
Loan Processing Charges 1% of the loan amount + GST as applicable
Prepayment No pre-payment permitted until repayment of 6 EMIs
EMI Cycle Change Rs. 500 per instance
Stamp Duty & other statutory charges As per applicable laws of the state
Cheque swapping charges ₹ 500/-
Amortization Schedule charges ₹ 200/-
Loan cancellation charges Rs. 2000 + interest charges from the date of loan disbursement till the loan cancellation request
Cheque Bounce Charges ₹ 550/- per cheque bounce
Legal, Repossession and Incidental Charges As per actuals
CIBIL Report Copy Charges ₹ 50 Per Copy

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

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Advantages ofUttar Bihar Gramin Bank Business Loan Uttar Bihar Gramin Bank Business Loan 

The bank provides its customers with customized products to suit their specific requirements.  

  1. No interference by the bank with how the applicant’s business is running.
  2. Neverending free ATM transactions at Tamilnad Mercantile Bank and another bank VISA ATMs in India.
  3. No charges on NEFT and RTGS transactions and demand drafts.
  4. Easy to access funds once the loan gets approved.
  5. A separate Reimbursement current account for seamless reimbursement management.
  6. Staff assisted digital account opening with Instant Welcome Packs.
  7. Reasonable interest rates to applicants with a rich relationship with the bank.
  8. Preferential rates on Personal and Home Loans.

Uttar Bihar Gramin Bank Business Loan Eligibility Criteria

Eligibility Criteria Description
Age 23 – 65 years
Minimum Turnover ₹ 0
Business Existence (months) 12 months
ITR (months) 0 months
Loan Amount ₹ 10 Lakh to ₹ 5 Crore
Loan Tenure 84 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Uttar Bihar Gramin Bank Business Loan Documents Required:

  1. Copy of Bank Statement
  2. Latest ITR and statement of computation of Income for the last 2 years
  3. Proof of continuity of business
  4. Other Mandatory Documents that are Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
  5. Original Board resolution
  6. Financials audited/ certified  by a CA
  7. Residence Proof: Lease agreement/ Electricity Bill / Passport / Trade license / Sales Tax Certificate
  8. Age Proof: Passport / PAN card / Voter’s identity card
  9. Proof for Identity: Passport / Ration card / Electricity Bill/ Lease agreement  / Sales Tax certificate/Trade licence / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card
  10. 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.

* (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower)*

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

  • Identity proof of the company: PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum
  • Proof of identity: To be submitted with two authorized signatories such as 2 Directors including the managing director, with (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license
  • Financial Documents: Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A

Self Employed Individuals – Professionals

  •  Identity Proof for Sole Proprietorship: PAN ID / IT return of the concern or Municipal tax, and electricity bill in the name of the concern.
  • Identity proof for the Sole Proprietor: Passport, Driving license, PAN card.
  • Address Proof for the Sole Proprietor: Driving license, Voter’s identity card, Ration card, Passport
  • Financial Documents: Copies of IT returns for the last two years and Bank statements for the last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A

Self Employed Individuals – Non Professionals:

  • Identity proof: Documents to be submitted for the sole proprietorship as well as for the individual’s (owner) identity.
  • Copy of periodic stock, age-wise book-debt and creditors-statement for latest three months
  • Copy of bank statement of main banker/copy of bank statement for the term loan for last  months
  • Financial Documents: Profit and Loss balance sheet for the last two years audited by a C.A, Sales tax returns for a minimum of 3 years, and the Copies of IT returns for the last three years.

EMI Calculator for Uttar Bihar Gramin Bank Business Loan

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 fast and accurate EMI Calculator

Compare Uttar Bihar Gramin Bank Business Loan With Other Banks

Particulars Uttar Bihar Gramin Bank Allahabad Bank 
Interest Rate 10.70 %  14.50%
Processing Fee 1.5%, Min Rs. 500 Rs. 229 – per lac, Min Rs. 2,038 Max Rs. 22,928
Tenure From 12 months to 84 months From 12 months to 84 months
Lowest EMI per lakh ₹ 1,849 ₹ 1,902
Loan Amount Min ₹ 2 Lakh and Max ₹ 5 Cr Min ₹ 1 Lakh and Max ₹ 20 Lakh

More Banks to compare with Uttar Bihar Gramin Bank Business Loan:

Barclays Bank Canara Bank ICICI Bank ING Vysya Bank
HSBC Citibank Kotak Mahindra Bank

Video: How to apply for Uttar Bihar Gramin Bank Business Loan

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Purpose of Uttar Bihar Gramin Bank Business Loan 

Availing a Business Loan from the bank will enable the following:

  • Maintaining a healthy cash flow to make payments to the suppliers timely.
  • Instant availability of liquidity to finance the daily needs of the business.
  • The loan amount can be used to cover up all the expenses related to business expansion.
  • Covers cost of buying new or upgrading machinery or equipment.
  • Covers cost of purchasing new inventories.

EMIs of Several Banks and NBFCs for Different Tenures

The following table shows the approximate values of EMIs offered by banks and NBFCs other than Uttar Bihar Gramin Bank

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 Uttar Bihar Gramin Bank

Personal Loan Gold Loan
Pension Loan

Why should you apply for Uttar Bihar Gramin Bank Business Loan at Dialabank?

DialaBank is India’s first online banking helpline service. It acts as a bridge between you and your preferred bank choice by minimizing the complex paperwork and application process. Sorting out the best offer as per your requirements is main mastercard Dialabank possesses as it has successfully delivered all the promised terms to all its customers without any fail.

Know more about Dialabank by visiting us online or by calling on 9878981166.

How to calculate EMI for Uttar Bihar Gramin Bank Business Loan?

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 EMI Calculator

Benefits of Uttar Bihar Gramin Bank Business Loan

The bank offers Business loans to self-employed and businessmen/women for financing the expansion or working capital requirements of their business. There are many benefits of availing loan from the bank:

  • Dropline Overdraft to save interest.
  • High loan amount up to Rs. 75 Lakh.
  • No collateral or guarantor required.
  • The balance transfer option available.
  • Flexible tenure and easy process.
  • Fast Approvals and disbursals.
  • Low and flexible interest rates.
  • Simple and minimum paperwork required.

Uttar Bihar Gramin Bank Business Loan Processing Time

For loan applications for Commercial Banking customers, the Bank will take 30 working days to communicate the decision, once all the information required by the Bank is appropriately submitted by the customer.

Uttar Bihar Gramin Bank Business Loan Preclosure

The bank’s Business Loan Preclosure charges are 1% Loan amount at the time of the disbursals’.

Pre Calculated EMI Table for Uttar Bihar Gramin Bank Business Loan

The Loan EMI of the bank depends upon the occupation (businessmen, self-employed, salaried), loan amount, loan tenure, and interest rate.

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 Uttar Bihar Gramin Bank Business Loan Online?

  1. Visit Dialabank.
  2. Go to the loan section and click on the Business Loan link.
  3. Check the eligibility criteria for the Business loan offered by the bank and fill a user-friendly Business Loan Application Form.
  4. One of our relationship managers will get in touch with you for the further process.
  5. For more information and free guidance, you may call on +919878981166.

Uttar Bihar Gramin Bank Business Loan Status

Call at +919878981166 or by visiting the Main Uttar Bihar Gramin Bank Website.

Dialabank Uttar Bihar Gramin Bank Business Loan Customer Care Number

To find the solution to your queries regarding a business loan, 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.

Uttar Bihar Gramin Bank Business Loan FAQs

Why should one take business loan from Uttar Bihar Gramin Bank?

DhanaLakshmi Bank offers loan at 10.70 %  rate with the lowest EMI of ₹ 1,075 per lakh. 

 How do I repay my business loan?

It should be repaid via EMIs with standing instructions and post-dated cheque.

What are the minimum and maximum tenure of business loans in Uttar Bihar Gramin Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of a minimum of 12 months to a maximum of 60 months.

How much business loan amount I can borrow from Uttar Bihar Gramin Bank?

The Bank offers a loan of a minimum amount of ₹ 10 Lakh to a maximum amount of ₹ 5 Crore.

What is the processing fee charged by Uttar Bihar Gramin Bank on business loan?

The bank charges a processing fee with its applicable tax.

For more information, check the Dialabank website or call at 9878981166 .

 

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