Apply Business Loan in Jaipur

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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 Jaipur

If you are looking to find the best loan consultants in Jaipur, then your search ends at Finance Buddha. This is a best Platform for everyone who is keen to compare and pick the best bank for applying for a business loan at Jaipur.  Finance Buddha has city specific information and guidance and the same can be made use by the applicant to choose a bank that offers loan at low interest rates.

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

Every applicant should make use of the comparison chart available in Finance Buddha to pick the best bank that offers low-interest rates loans. Ultimately, when it comes to business, everyone will be keen to save every penny that is spent on interest rates and other charges. Thus it is crucial to scrutinize and compare all aspects of what each bank is offering and never jump into decisions.  As such these are long term commitments, thus the decision should always be right.

 

 

Business Loan Eligibility Criteria in Jaipur

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

  • Self-employed businessmen with an annual turnover of Rs. 2 crores
  • Manufacturers with an annual turnover of Rs. 1 crore
  • Service Providers with an annual turnover of Rs. 50 lakhs
  • Applicant/Borrower has to be in business for last three (3) years continuously, showing a cash profit for the last two (2) years.

 

 

Business Loan Documents Required in Jaipur

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

  • ID Proof
  • Address Proof
  • Proof of Continuity Of Business
  • Bank Statement 6 Months
  • Board Resolution (If Pvt. ltd co. is co-borrower/Partnership Authorization Letter {if partnership firm is co-borrower}
  • ITR & Statement Of Computation of Income – for last 2 Years
  • CA Certified or Audited P/L  Account Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet – for last 2 years
  • Latest ITR of Co-Applicants – For last 2 Years
  • Ownership Proof of Residence or Office
     

 

 

Business Loan Interest Rates, Fees & Charges in Jaipur

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

Business Loan Interest Rates Sep 2016

Interest Rates Business Loan in Jaipur

HDFC Bank Business Loan

16.25% - 19.75%

Axis Bank Business Loan

11.00% - 12.00% Fixed

ICICI Business Loan

15% - 19%

IDBI Business Loan

 13.00% - 14.00%

Kotak Business Loan

 12.99% - 14.50%

Tata Business Loan

12.50% - 19.50%

 

Other rates and charges applicable for business loan in Jaipur are:

Rack Interest Rate Range

16.25% to 19.40%

Loan Processing Charges

Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-

Prepayment

No pre-payment permitted until repayment of 6 EMIs

Pre-payment charges

07-24 Months - 4% of Principal Outstanding

 

25-36 Months - 3% of Principal Outstanding

 

>36 Months - 2% of Principal Outstanding

No Due Certificate / No Objection Certificate (NOC)

NIL

Duplicate no due certificate / NOC

NIL

Solvency Certificate

Not applicable

Charges for late payment of EMI

@ 24 % p.a on amount outstanding from date of default

Charges for changing from fixed to floating rate of interest

Not applicable

Charges for changing from floating to fixed rate of interest

Not applicable

Stamp Duty & other statutory charges

As per applicable laws of the state

Credit assessment charges

Not applicable

Non-standard repayment charges

Not applicable

Cheque swapping charges

Rs 500/-

Amortization Schedule charges

Rs 200/-

Loan cancellation charges

NIL (However Interest would be charged for the interim period between date of loan disbursement and date of loan cancellation and processing fees would be retained)

Cheque Bounce Charges

Rs 550/- per cheque bounce

Legal / incidental charges

At actual

CIBIL Report Copy Charges

Rs.50 Per Copy

 

Frequently Asked Questions