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Business Loan

Any individual who is 18 years of age or above can get a business loan.
The minimum loan amount offered is Rs 5,00,000/- , though it may vary depending upon requirements.
You can repay the loan amount in minimum 12 months and maximum upto 10 years, depending on the respective bank or institution.
The maxmimum age of availing business loan is upto 65 years or it may varies as per the banks or institution policy.
To avail a business loan, you will need to submit the following documents:
  • Passport-size photographs.
  • KYC Documents – PAN, Aadhaar, Driving license, Voter’s ID, Passport
  • Bank account statements for minimum six months
  • Last 2 Year ITR (in case of Income Tax Payee).
  • Ownership Proof
  • GST Certificate
EMI (Equated Monthly Installments) is the amount payable to the lending institution every month, till the loan is completely paid off. It comprises of the interest as well as the principal amount.
Yes, you can apply a for business loan if you already have a home loan/auto loan/any other loan obligation, however, it will also depend on your repayment capacity, track record of home loan/auto loan/ any other loan, CIBIL score etc.
Since this is an unsecured loan, therefore, no security is required.
yes, you can prepay the loan, however, any prepayment of loan in full or in part before the end of term will attract the prepayment charges which varies from financial institution to financial institution.
You have to apply with us only if you require a minimum loan amount of Rs. 5,00,000/-
It varies from financial institution to financial institution. However, the ideal CIBIL score to get instant loan approval is 700 and above.