Bank offers Business loan to develop the Business including purchasing of new machinery in India. Bank takes of care of customer needs and try to full up their financial needs by syndicating the Business loan at affordable rate of Interest. A borrower can apply for Business loan to investment in start up new Business. Unlike Secured loan, a borrower can get Business loan within seven working days subject to Creditscore & Financial Statements. Bank will process the Business Loan quickly and speedy.
|Bank/NBFC||Rate of Interest||Loan Processing Charges|
|HDFC Bank||11.49% onwards||Not exceeding 2.5% of loan amount sanctioned. Min. Rs. 1000, Max. Rs. 25,000|
|State Bank of India||12.55% onwards||1% to 3% of loan sanctioned|
|Axis Bank||15.50% to 24%||1.5% to 2% of loan sanctioned|
|Tata Capital||12.50% onwards||Min. Rs. 999|
|ICICI Bank||11.49% onwards||Not exceeding 2.5% of loan amt.|
|Bajaj Finserv||11.49% onwards||2.25% to 3% of loan sanctioned|
For all those who have a liability to register themselves, if fails to do the same than under section 75A of the finance act 1994 penalty for the failure of an assessed to get himself registered was fixed at Rs. 500/- as a onetime payment but subsequently this section was deleted by the virtue of the finance act 2004 and now the general penalty that is applicable is Rs. 1000/- as per section 77 of Finance act.
Collection of Documents
Preparation of Application
Submission of Application
Approval of Persoanl Loan