Every enterprise whether big or small needs some working capital to sustain and expand. Barclays Bank Business Loan has been successful in providing the much needed relief to

Self employed individuals,

Partnership

Sole proprietorship firms etc.

Barclays Bank Business Loan Review shows that the rates are competitive. Barclays Bank Business Loan Interest rate is the reason for many businesses opting for Barclays bank Business Loan.

Barclays Bank Business Loan Interest Rate:

Barclays Bank Business Loan rate has a drop down facility. A customer who pays his monthly installment on time can benefit from this facility. The Barclays Bank Business Loan Interest Rate is 18% and interest rate gets reduced by 1% every 12 months or 24 months. For self employed individuals is 19% -20% per annum.

Barclays Bank Business Loan Eligibility:

Barclays Bank Business Loan review and Barclays Bank Business Loan eligibility criteria are mentioned below.

• ·To avail Barclays Bank Business Loan rate age of applicant should be minimum 21 years to maximum 65 years.
• ·Minimum Turnover Rs. 2,00,00,000 for self employed individuals.
• ·Should have been in business for the last 3 years.
• ·The minimum term is for 6 months and the maximum term is five years for self employed individuals.

Whosoever is able to meet the Barclays Bank Business Loan eligibility criteria is eligible to a loan amount ranging from minimum 25,000 to maximum loan 35, 00,000. Applicants with turnover from 25 lacs to 30 crore per annum are eligible for Barclays Bank Business Loan. For Self employed individuals the customer can get a minimum loan amount of Rs. 1 lac to Rs. 30 lac.

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

Proof of identity

Proof of address

6 months bank statement

2 years form 16

Duly filled application form

2 photographs

Barclays Bank Business Loan Review shows that documents required are specific to type of business and more details for documents required are available on the bank website.

Barclays bank Business Loan Review shows that Barclays Bank Business Loan can be availed for maximum loan tenure of up to 60 months that can be repaid in easy equated monthly installments through post dated cheques, online EMI payment or direct debit from bank account. The loan can be processed in 7 working days once the documents have been submitted. The loan can be prepaid only after 6 months of disbursement of loan and if loan is closed within one year or balance transferred then 6% of outstanding loan amount plus taxes will be charged. Rs 500 is chargeable in case of cheque bounce and 27% per annum in case of late payment.

Barclays Bank Business Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government. Currently there are no taxes benefits applicable to the customers.

More details on Barclays Bank Business Loan eligibility and Barclays Bank Business Loan Interest Rate etc. are on the official site at http://www.barclays.in/