Vijaya Bank Business Loan

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Why us?

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

Vijaya Bank Business Loan Key Features

Vijaya Bank Interest Rate MCLR 1 Year + 2.60 = 11.25% p.a.
Tenure From 12 months to 120 months
Lowest EMI per lakh ₹ 3,423
Loan Amount Min ₹ 50 Thousand and Max ₹5 crores
Part Prepayment, Charges Allowed after 1 EMI’s,
Early Foreclosure, Charges Allowed after 1 EMI’s
Vijaya Bank Processing Charges 2.50%, Minimum Rs. 1,000 Maximum Rs. 25,000
Prepayment Charges 4% of principal outstanding – 13 to 24 months,
3% of principal outstanding – 25 to 36 months
2% of principal outstanding – >36 months
Repayment Period 1-10years
Prepayment Condition No pre-payment permitted until repayment of 12 EMIs
Collateral Not required

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

Facility Charges
Interest Rate Charges 11.25%
Loan Processing Charges Up to 3% of the loan amount
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)

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Advantages of Vijaya Bank Business Loan

With growing and developing plans of India Vijaya Bank provides comfortable loan plans to help businessmen achieve ambitious plans. Moreover, there are various benefits of applying for business loans via Vijya Bank. Vijaya Bank Business Loan

  • A higher loan amount of 5 crores can help businessmen achieve plans for expansion. 
  • Affordable rate of interest with easy EMI plans. 
  • Instant Loan approval and lesser tedious process. 
  • Multiple repayment options spread over a comfortable tenure of 10years. 

Vijaya Bank Business Loan Eligibility Criteria

  • The borrower should either be self-employed for a minimum of 2 years or be a salaried individual. 
  • The traders engaged in buying and selling goods also eligible.  
Eligibility Criteria Description
Age 21 to 65 years
Minimum Turnover ₹ 0
Business Existence (in months) 0 months
ITR (months) 6 months
Loan Amount ₹50,000 to ₹5 crore
Loan Tenure 36 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Vijaya Bank Business Loan Documents Required

Documents are an important factor for loan procedure, If you have the right documents then the loan can be granted instantaneously. The common generic documents required are given below:

  • Duly filled Application form with a passport photograph
  • Proof of Identity – anyone of the following will be fine (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
  • Address Proof – anyone can be submitted (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
  • Age proof (PAN Card, Passport, any other certificate from a statutory authority)
  • Proof of business existence
  • Bank Statements (Bank statement / Bank Passbook for last 6 months)
  • Profit and loss statement for the last 3 years
  • Balance sheet for the last 3 years
  • Income Tax Returns for the last 3 years (for self and business) duly certified by a CA. 

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, 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 Vijaya Bank

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 Vijaya 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 Vijaya Bank Business Loan:

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

Video: How to apply for Vijaya Bank Business Loan

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Purpose of Business Loan from Vijaya Bank

Availing Business Loan through Vijaya Bank can help in many ways :

  • Keep a good working capital to ensure you pay your suppliers on time.
  • Avail offers by paying instantly.
  • Cover costs for your business plans and expansions.

EMIs of Several Banks and NBFCs for Different Tenures

The following table shows the approximate values of EMI’s offered by banks and NBFC’s other than Vijaya 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 Vijaya Bank

Personal Loan Gold Loan
Car Loan Education Loan

Why should you apply for Vijaya Bank Business Loan at Dialabank?

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

How to calculate EMI for Vijaya Bank Business Loan?

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

Loan Amount Rate Of Interest (p.a.) Tenor EMI Total Interest Amount Total Amount (Principal + Interest)
Rs. 5,00,00,000 10.20% – 13.70% 1 year Rs. 44,00,447 – Rs. 44,82,301 Rs. 28,05,360 – Rs. 37,87,614 Rs. 5,28,05,360 – Rs. 5,37,87,614
Rs. 5,00,00,000 10.20% – 13.70% 2 years Rs. 23,11,865 – Rs. 23,93,564 Rs. 54,84,749 – Rs. 74,45,537 Rs. 5,54,84,749 – Rs. 5,74,45,537
Rs. 5,00,00,000 10.20% – 13.70% 3 years Rs. 16,18,058 – Rs. 17,01,605 Rs. 82,50,102 – Rs. 1,12,57,786 Rs. 5,82,50,102 – Rs. 1,12,57,786
Rs. 5,00,00,000 10.20% – 13.70% 4 years Rs. 12,72,937 – Rs. 13,58,811 Rs. 1,11,00,976 – Rs. 1,52,22,941 Rs. 6,11,00,976 – Rs. 6,52,22,941
Rs. 5,00,00,000 10.20% – 13.70% 5 years Rs. 10,67,279 – Rs. 11,55,651 Rs. 1,40,36,760 – Rs. 1,93,39,037 Rs. 6,40,36,760 – Rs. 6,93,39,037
Rs. 5,00,00,000 10.20% – 13.70% 6 years Rs. 9,31,343 – Rs. 10,22,272 Rs. 1,70,56,670 – Rs. 2,36,03,596 Rs. 6,70,56,670 – Rs. 7,36,03,596
Rs. 5,00,00,000 10.20% – 13.70% 7 years Rs. 8,35,235 – Rs. 9,28,734 Rs. 2,01,59,765 – Rs. 2,80,13,650 Rs. 7,01,59,765 – Rs. 7,80,13,650
Rs. 5,00,00,000 10.20% – 13.70% 8 years Rs. 7,64,010 – Rs. 8,60,060 Rs. 2,33,44,945 – Rs. 3,25,65,784 Rs. 7,33,44,945 – Rs. 8,25,65,784
Rs. 5,00,00,000 10.20% – 13.70% 9 years Rs. 7,09,361 – Rs. 8,07,928 Rs. 2,66,10,964 – Rs. 3,72,56,177 Rs. 7,66,10,964 – Rs. 8,72,56,177
Rs. 5,00,00,000 10.20% – 13.70% 10 years Rs. 6,66,304 – Rs. 7,67,339 Rs. 2,99,56,438 – Rs. 4,20,80,642 Rs. 7,99,56,438 – Rs. 9,20,80,642

Benefits of Vijaya Bank Business Loan

There are various merits for applying for business loan for both businessmen and salaried individual. 

  • No guarantee or securities required. 
  • Quick approval and easy procedure
  • Low-interest rates and other charges
  • Flexible tenure and easy repayment options. 
  • Minimum documents required 

Vijaya Bank Business Loan Processing Time

With the right documents, Vijaya Bank takes very little time of only 2days to process the loan and the funds can be used simultaneously. 

Vijaya Bank Business Loan Preclosure

The Vijaya Bank Business Loan has preclosure charges lies to 3% of the disbursed amount. 

Pre Calculated EMI Table for Vijaya Bank Business Loan

The Loan EMI in Bank of Baroda 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 Vijaya Bank Business Loan Online?
  1. Visit Dialabank.
  2.  Click on the business loan under the loan section. 
  3. Check the eligibility criteria for the Business loan offered by Bank of Baroda and fill a user-friendly online application form for Business Loan.
  4. One of our finance managers will soon get in touch with you for further process.
  5. For more information and free guidance, you may call on +919878981166.

Vijaya Bank Business Loan Status

You can find the loan status by Calling +919878981166 or by visiting the Vijaya Bank Site.

Dialabank Vijaya Bank Business Loan Customer Care Number

For any queries please give a call at +919878981166.

Dialabank helps you to find the best option for a business loan by comparing various banks. 

Vijaya Bank Business Loan FAQs

How much Business Loan can I get through Vijaya Bank?

Vijaya Bank provides a good cap of loan between Rs 50,000 – 5 crores. 

✅ Is a guarantor essential for the Vijaya Bank Business Loan?

It is not required as per se, however, if the borrower has inefficient collateral then the spouse can act as the guarantor. 

 How do I repay my business loan?

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

 

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