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Business Loan- Select The Bank

About Business Loan

Business Loans In India Introduction:

Business Loans in India available through various Banks today have helped

Individuals,

Proprietorship's,

Partnership firms,

Cooperative societies and various other

Small and Medium scale businesses by providing hassle free finance options to meet Working Capital Requirement and Loan etc at competitive business loan interest rate.

Business Loans in India is being offered at a competitive Business Loan Interest rate is the reason that businesses that have always dream of growing and expanding their enterprise can do so today by availing a Business Loans in India. Business Loan Calculator is available on the banks website help in knowing the amount eligible, loan tenor and EMI etc.

Business Loan Interest Rate:

Business Loan Interest Rate differ from bank to bank and are usually related to the banks Base Rate+ a certain percentage as decided by the bank and which is subject to change.

Business Loan Eligibility:

Business Loan review shows that a common Business Loan Eligibility criterion for most banks is:

  • ·Traders having Registration or License as applicable.
  • ·Licensed Business Concerns or services.
  • ·Business Unit should be profitable for at least last 1-2 year.
  • ·Individuals, Proprietorship's, Partnership firms and cooperative societies.
  • ·Various dealers.
  • ·Applicant age between 21 to 65 years

Business Loan eligibility makes it easy for most businesses to apply for Business Loan and avail the benefit of Business Loan Rates. Applicants who are able to meet Business Loan eligibility criteria are eligible to a Business Loan from minimum Rs. 25,000 to a maximum of up to Rs 5 crores in some cases. Business Loan Calculator can help the applicants get an idea of the EMI and loan tenor for the eligible amount.

The Business Loan documentation process is easy and the common documents required are

proof of identity,

proof of address,

proof of signature,

Income proof and various other documents specific to the banks documentation process. The customer can find out his EMI from the Business Loan Calculator. The Business Loan Calculator  makes the process of choosing Business Loan extremely easy for the customer.

Business Loans can be availed for a flexible loan tenor and most banks also allow prepayment of loan however they do charge a penalty in case of late payment.

Business Loans in India has a tax benefit according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

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