Apply Business Loan in Bangalore

All day customer support

call us at

080-6012 0505

Drop your number

Tips

Not getting the desired loan amount

- Try adding multiple partner/director as a co-applicant alongwith the borrowing entity

Not getting the desired loan amount?

- Finance Buddha can try to do a debt consolidation/balance transfer to increase eligibility

Business Loan in Bangalore

Bangalore is not just a town of IT hub but also is a center for lot of business or commercial activities. This busy city is considered as a safe place in India for women and kids. Thus many would like to settle in Bangalore by either working in an IT company or starting some business on their own. Though there is lots of transformation seen in the city, there is no doubt that it is growing for the better. 

How Finance Buddha can help you get a Business Loan in Bangalore?

Finance Buddha is a free platform where in every person can check all details related to business loan in Bangalore. These information can be made use to ascertain whether you are eligible for a business loan or not and can accordingly apply to the bank through this website. If you are looking for easy ways to get the loan approved, then the smart route is Finance Buddha.

Business Loan Eligibility Criteria in Bangalore

Though every bank has specific eligibility criteria, the below listed is the basic eligibility criteria applicable to all banks.

  • Turnover product, where an industry margin of up to 15% is applied on the turnover to estimate the income of the borrowers
  • DSCR product where eligibility is estimated using the debt repayment capacity of the borrower
  • Other Surrogate income products for loan amount of less than Rs 10 lakh.

Business Loan Documents Required in Bangalore

Apart from bank specific documents, some of the very commonly requested documents for business loan approval in Bangalore are:

•             Signed Application Form

•             Identity Proof (PAN)

•             Residential Address Proof

•             Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.

•             Last 12 months bank account statement (self and business)

•             Certificate and Proof of Business Existence

•             Business Profile

•             Office address - ownership/ lease / rent agreement/ utility bill

Business Loan Interest Rates, Fees & Charges in Bangalore

If you are looking to take a business loan in Bangalore, then it’s time to compare the interest rates and other charges as early possible.

Product Features

Loan Against Property

Unsecured Business Loan

Maximum Loan Amount

Up to 60% of the property value

Rs. 10 lakhs to Rs 5 crore

Loan Tenure

5 - 15 years

1-3 years

Interest Rate

13.50% – 15%

14% onwards

Processing Fees

0.25% - 2%

2% - 3%

 

Bank

Loan amount

Rate of interest

Processing fee

Prepayment charges

HDFC Bank

Up to Rs.15 lakhs ( up to Rs.40 lakhs in selected locations)

17% to 22%

Up to 2.50% of the loan amount subject to a minimum of Rs.1,000/- & maximum of Rs.75,000/-

4% for 7-24 months 
2% for 25-36 months 
Nil for >36 months

ICICI Bank

Variable

14% to 20%

Up to 2% of the loan amount. Rs. 5000/- is collected upfront

Up to 2% of the loan amount

Bajaj Finserv

Rs.8 Lakhs to Rs. 30 lakhs

 

2% of the loan amount

Nil

Standard Chartered Bank

Up to Rs. 75 lakhs

12% to 12.50%

Variable

5% of the outstanding loan amount

 

 

Charges Applicable

Processing Fees

2% of the loan amount will be deducted at the time of disbursal of approved loan amount

EMI bounce charges

Rs 1000 will be charged in the subsequent month for every bounce

Penal Interest

2.00% p.m. overdue charges will be levied basis 360 days per year

Foreclosure Charges

NIL to 4%

 

 

Frequently Asked Questions