Vidharbha Konkan Gramin Bank Business Loan

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Why us?

No Collateral Required
Loans Up to 1 Crore
Hassle-free Disbursal
Doorstep Service
Unbiased Experts Advice

Vidharbha Konkan Gramin Bank Business Loan Key Features

Vidharbha Konkan Gramin Bank Interest Rate 13.50% – 14.50%
Tenure From 12 months to 84 months
Lowest EMI per lakh ₹ 3,423
Loan Amount Min ₹ 50 Thousand and Max ₹ 5 crore
Part Prepayment, Charges Allowed after 1 EMI’s
Early Foreclosure, Charges Allowed after 1 EMI’s
Bank of Baroda Processing Charges Up to 2.50% of the loan amount (Min. Rs. 2,359 – Max. Rs. 88,500)
Prepayment Charges 07-24 Months – 4% of Principal Outstanding Amount

25-36 Months – 3% of Principal Outstanding Amount

More than 36 Months – 2% of Principal Outstanding Amount

Repayment Period 12 – 48 months ( 84 EMI )
Prepayment Condition No pre-payment permitted until repayment of 6 EMIs
Collateral Not required

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

Facility Charges
Interest Rate Charges 14.50%
Loan Processing Charges Up to 2.50% + GST as applicable
Prepayment No pre-payment permitted until repayment of 6 EMIs
No Due Certificate / No Objection Certificate (NOC) NIL
Duplicate no due certificate / NOC NIL
Solvency Certificate Not applicable
Charges for late payment of EMI @ 24%  p.a.
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)

TABLE WILL APPEAR

Advantages ofVidharbha Konkan Gramin Bank Business Loan Vidharbha Konkan Gramin Bank Business Loan

Vidharbha Konkan Gramin Bank provides various merits by not interfering with the business and the proprietor.

 

  • Comfortable and easy way to get your loans approved.
  • Reasonable interest rate and charges.
  • A convenient way to repay loans.
  • Privacy of the borrower is maintained.

Vidharbha Konkan Gramin Bank Business Loan Eligibility Criteria

Eligibility Criteria Description
Age 21 to 60 years
Minimum Turnover ₹ 0
Business Existence (in months) 0 months
ITR (months) 6 months
Loan Amount ₹ 1 Lakh to ₹ 75 Lakh
Loan Tenure 36 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Vidharbha Konkan Gramin Bank Business Loan Documents Required

Common Documents:

  • Valid Identity Proof: Passport / Ration card / Electricity Bill / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card/ Lease agreement  / Sales Tax certificate/Trade licence any document can be submitted. 
  • Residence Proof: Lease agreement / Passport / Trade license / Electricity Bill / 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.
  • 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 Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director.
  • Original Board resolution.
  • Financials audited/ certified  by a CA.

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

  • Company Identity proof: 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: must submit with at least 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, Water bill, and electricity bill in the name of the concern.
  • Identity proof for the Sole Proprietor: Passport, Voter’s identity card, 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.

Business Loan EMI Calculator for Vidharbha Konkan Gramin Bank

EMI table of Vidharbha Konkan 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

 Dialabank’s fast and accurate EMI Calculator can be used to calculate your EMI plan.

Compare Vidharbha Konkan Gramin Bank Business Loan With Other Banks

Bank
Interest Rate 15.65% – 21.35% 14.10%
Processing Fees Starting from 0.99%, Max 2.50% Starting from 1%, Max 2.50%
Loan Amount ₹ 50,000 to ₹ 50 Lakh ₹ 50,000 to ₹ 75 Lakh
Loan Tenure 12 to 48 Months 12 to 48 Months
Lowest EMI Per Lakh ₹ 2,816 per lakh ₹ 3,423 per lakh
Part Payment Charges Not Allowed Not Allowed
Foreclosure Charges Allowed after 12 months at 2 – 4% Allowed after 1 EMI’s
Borrower’s Age 21 to 65 Years 25 to 65 Years
Minimum Years in Business Required 36 Months 36 Months
Minimum Turnover Required ₹ 1 Cr ₹ 60 Lakh

More Banks to compare with Vidharbha Konkan Gramin Bank Business Loan:

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

Video: How to apply for Vidharbha Konkan Gramin Bank Business Loan

VIDEO WILL APPEAR!

Purpose of Business Loan from Vidharbha Konkan Gramin Bank

Obtaining a Business Loan from Vidarbha Konkan Gramin Bank can cover and help with:

  • Appropriate capital flow can be maintained to ensure smooth business activity. 
  • Instant availability of working capital to ensure fruitful transactions daily. 
  • Execute the expansion plans for business growth. 
  • Maintain and provide for the costs of fixed assets. 
  • Finance the workhouse to maintain a stable inventory.

EMIs of Several Banks and NBFCs for Different Tenures

Average emi of loan amounts of banks other than Vidarbha Konkan 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 Vidharbha Konkan Gramin Bank

Personal Loan Gold Loan

Why should you apply for Vidharbha Konkan Gramin Bank Business Loan at Dialabank?

Dialabank is the first helpline service in India that acts as a median between the public and banks. We help minimize your work process by our efficient personnel. You can sort out the best offers of different banks according to your personal needs. DialaBank has been approved by the authorized bodies and their customers.

You can know more about Dialabank by surfing our online page or by calling on 9878981166.

How to calculate EMI for Vidharbha Konkan Gramin 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

Calculate your specific EMIs and interests through Dialabank’s EMI Calculator.

Benefits of Vidharbha Konkan Gramin Bank Business Loan

Vidharbha Konkan Gramin Bank provides loans to businessmen working for more than 2 years or even salaried individuals. The self-employed individual can execute their exponential plans and not worry about finance or capital requirements. Benefits of choosing Jharkhand Gramin Bank –

  • The hassle-free process especially through DialaBank. 
  • Loan up to 5 crores can be obtained. 
  • A guarantee is not required. 
  • Flexible tenure and easy repayment process through customized EMIs.
  • Fast Approvals within a week for smart disposal of funds. 
  • Interest rates are low comparatively.
  • Simple process and lesser paperwork required.

Vidharbha Konkan Gramin Bank Business Loan Processing Time

It takes 3 business working days for the officials to approve your application provided you have all the right documents. 

Vidharbha Konkan Gramin Bank Business Loan Preclosure

Vidharbha Konkan Gramin Bank Business Loan Preclosure charges lie in a range of 2% to 3% of the disbursed limit.

Pre Calculated EMI Table for Vidharbha Konkan Gramin Bank Business Loan

EMI amount and plans can depend upon 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 Vidharbha Konkan Gramin Business Loan Online?

  1. Visit Dialabank.
  2. Click on the loan section and go to the Business Loan link.
  3. Once you are eligible you can fill in the online application form for Business Loan.
  4. Our relationship manager will contact and assist you in further process. 
  5. For further information and free guidance, you may call on +919878981166.

Vidharbha Konkan Gramin Bank Business Loan Status

You can check the status of your loan by Calling at +919878981166 or by visiting Main Vidharbha Konkan Gramin Bank.

Dialabank Vidharbha Konkan Gramin Bank Business Loan Customer Care Number

For any queries regarding a business loan, give a call at +919878981166

Dialabank provides a detailed comparison between different banks for you to make the right choice. 

Vidharbha Konkan Gramin Business Loan FAQs

✅ Is a guarantor or collateral required for the Vidharbha Konkan Gramin Bank Business Loan?

No form of security is required while applying for Vidharbha Konkan Gramin Bank Business Loan.

 How do I repay my business loan?

It should be repaid through EMIs which can be again customized depending on your preferences. 

✅ What are the minimum and maximum range of tenure of business loans in the Vidharbha Konkan Gramin Bank?

The repayment period depends on your loan amount and contract but it usually lies between 12 months to 84 months. 

✅ How much business loan amount I can borrow from the Vidharbha Konkan Gramin Bank?

Vidharbha Konkan Gramin Bank offers a high maximum of 5 crore and a comfortable minimum of Rs 50,000. 

 

 

 

 

Table of Contents

Menu