Apply Business Loan in Hyderabad

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Business Loan in Hyderabad

Every business can reach its goal only if there is sufficient funding as and when required. And business is such an activity wherein the funding and returns will keep fluctuating from time to time. Understanding this many banks and financial institutions are offering business loans in Hyderabad to meet the financial needs of businesses.

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

With the help of Finance Buddha you can simply upload your requirements and check if you’re meeting the eligibility to apply for a business loan with banks. Post which select the best bank that suits your requirements and which offers low interest rate loans and apply for the same.

 

 

Business Loan Eligibility Criteria in Hyderabad

Unless the applicant meets the below eligibility criteria it is not possible to get a loan approved from any bank in Hyderabad. But, to a certain extent the bank branch manager can make decision:

  • Age of the applicant should be between 21 - 60 Years
  • Business should have a vintage of at least 3 years
  • Business should have IT returns filed for the last 3 years
  • Business Individual should be staying in the city for at least 1 Year
  • Business should have all company documents adhering to the state laws
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc.
  • Business Financials which include the overall turnover and profit after taxes should also be available

Documents Required for Business Loan in Hyderabad

Below listed is the basic documentation necessary before applying for a business loan in Hyderabad.

  • A copy of the PAN card of the person or company
  • An identity proof which might include any of Aadhar Card, Passport, Voter ID, PAN Card or Driving License
  • An Address Proof which can consist of either of Aadhar Card, Passport, Voter ID or Driving License
  • Bank statements from the last 6 months
  • ITR statement from the last year as well as audited balance sheet and P&L statement for the past 2 years
  • Vintage proof or continuation proof which includes ITR, Trade License, Establishment Registration or Sales Tax Certificate
  • Cash Flow statements
  • Debt Obligations
  • Other documents as required which can include declaration of ownership, MoA, Resolutions, Power of Attorney or any other document required by the bank/NBFC or as required by the lender.

Business Loan Interest Rates, Fees & Charges in Hyderabad

Interest rates and charges vary from bank to bank. Here is the list of interest rates and charges for different banks of Hyderabad for business loan.

Bank

Loan Amount

Rate Of Interest

Processing Fee

Process

Pre Closure

ICICI BANK

1 Lakh To 20 Lakhs

18 % To 20%

2% To 2.5%%

5 To 7 Days

2% To 5%

HDFC BANK

1 Lakh To 30 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

CITI BANK

1 Lakh To 30 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

KOTAK BANK

1 Lakh To 20 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

BAJAJ FIN

1 Lakh To 20 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

TATA CAPITAL

1 Lakh To 20 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

INDUSIND BANK

1 Lakh To 20 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

CAPITAL FIRST

1 Lakh To 15 Lakhs

18 % To 20%

2% To 2.5%

5 To 7 Days

2% To 5%%

 

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