bandhan-bank-business-loan

• The company should have a minimum annual revenue of Rs. 40 lakhs
• A minimum annual income (ITR) of Rs. 1.5 lakhs is necessary for the company
• Those that have made a profit in their business for the previous two years
• Self-employed persons, proprietors, private limited liability, and
  partnership firms engaged in the manufacturing, trading, or service
  industries
• Individuals with a minimum of 3 years in the existing business and a total
  of 5 years in the business
• The borrower must be at least 21 years old at the time of loan application
  and no more than 65 years old at the time of loan maturity

Self-employed candidates are required to submit the documents listed below along with the ones mentioned above:

• Proof of business establishment
• Address proof of Business
• Proof of Business continuity of the past 3 years
• Latest ITR, along with computation of income
• Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
• Copy of bank statement of the past 180 days
• Proof of earnings of the last 6 months

Identity Proof

● Driving License

● Aadhar Card

● Valid Passport

● PAN Card

● Voter ID

Proof of Residential Address

● Utility Bill

● Approved Building Plan

● Valid Passport

● Voter ID

● Registered Rent Agreement

Birth Date Proof

● Driving License

● Valid Passport

● Voter ID

● Aadhar Card

The loan verification proceeds in the following stages:

1. Fill the Bandhan Bank business loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on apnapaisa.com.

2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).

3. The concerned officials at Bandhan Bank verify the documents and the details there. They may visit the property if necessary.

4. Once your application for a personal loan is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

Bandhan Bank provides affordable and convenient personal loans with EMIs as low as Rs. 1,833 per lakh for a 60-month term and a rate of interest as low as 10.06%. The interest rate is fixed and charged every month. It is calculated on the amount overdue, i.e., the amount to be repaid after the EMI and interest are paid.

Further, Bandhan Bank proposes the following Business Loan schemes:

Loan Type

Working Capital Loan

Term Loan

Small / Micro Enterprise Loan

Interest Rate

10.06% onwards

10.06% onwards

17% onwards & 17.95% onwards

Loan Amount

Based on documents submitted

Based on documents submitted

(From 1 Lakh to Rs. 10 lakh for Small) & (From Rs. 1.51 lakh – Rs. 3 lakh for Micro)

Processing Fees

1% of the loan amount + service tax

1% of the loan amount + service tax

2% of the loan amount + service tax

Repayment Tenure

Repayable on demand

Max. 7 years

Up to 3 years for Small and 2 years for Micro

Margin

Min. 25%

25% Flat

N/A

Insurance

All assets financed to be insured with bank clause

All assets financed to be insured with bank clause

N/A