Business Loan Rates 201975912 views
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If you are looking for a secured funding solution to enhance your business performance, Bandhan Bank business loan would be the most feasible option for you. The Bank provides funds to Micro, Small and Medium Entreprises (MSME) that are in urgent need of funds for the business development. Bandhan Bank also caters its service to the newly started business entities for any business need such as for buying a machinery or to meet the working capital deficiency, only if the applicant/s is eligible for the loan and the documentation required to apply for the loan is proper. The applicant is also required to provide the security as the business loan facilitated by the Bank is a secured loan. The rate of interest on this loan is linked to 1-Year MCLR which is at present 10.45% p.a. and is subject to change with the modification in the Bank policy and market condition.
Table of Contents
- 1 Bandhan Bank Business Loan Interest Rate
- 2 Bandhan Bank Business Loan EMI Calculator
Bandhan Bank Business Loan Interest Rate
|Interest Rates||10.55% - 18.80%|
|Loan Amount||Up to ₹25,00,000|
|Tenure||Up to 7 years|
|Processing Fee||1% plus GST|
How to Apply
The candidates willing to take a business loan from Bandhan Bank can apply for the same online as well as offline. The application can be submitted at the official website of the bank and after the completion of the loan procedure, you will get the application ID with the help of which you can track your loan application status. The customers who want to apply offline can submit the form in person by visiting the nearest bank branch.
Bandhan Bank Loan Application Form
To avail the benefits of a business loan from Bandhan Bank, you need to fill the business loan application form available at the nearest branch. The form should be duly filled, as the incomplete forms are rejected by the bank. Below is the list of documents that you must have to apply for the business loan.
- Duly filled application form
- 3 passport size photograph of the Individual Borrower
- 2 passport size photograph of the Guarantor, if required
- KYC documents
- Financial Statement of last 3 years
- Trade license or any other regulatory license applicable to unit
- Last 6 months existing Bank account Statement
- Ownership documents of security
- Copy of Partnership deed /Copy of MOA & AOA or other related documents in case of company/partnership firm
Bandhan Bank Business Loan EMI Calculator
EMI is the monthly installment that the borrower has to pay each month to the lender for the settlement of the loan. The EMI value includes the amount of interest along with the principal amount. An EMI calculator is the tool that helps in computing the correct EMI value online within a few minutes. This calculator is time-saving and gives you the accurate value of the payments by taking into account the basic information regarding the loan that is the loan amount, tenure, and the rate of interest. Here is an example for your reference.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 25,00,000 10.45% 1 ₹ 2,20,313 ₹ 1,43,759 ₹ 26,43,759 ₹ 25,00,000 10.45% 2 ₹ 1,15,882 ₹ 2,81,174 ₹ 27,81,174 ₹ 25,00,000 10.45% 3 ₹ 81,197 ₹ 4,23,098 ₹ 29,23,098 ₹ 25,00,000 10.45% 4 ₹ 63,948 ₹ 5,69,509 ₹ 30,69,509 ₹ 25,00,000 10.45% 5 ₹ 53,673 ₹ 7,20,371 ₹ 32,20,371 ₹ 25,00,000 10.45% 6 ₹ 46,884 ₹ 8,75,642 ₹ 33,75,642 ₹ 25,00,000 10.45% 7 ₹ 42,087 ₹ 10,35,271 ₹ 35,35,271 Year Principal Interest Balance Amount 1 ₹ 2,55,810 ₹ 2,49,228 ₹ 22,44,189 2 ₹ 2,83,861 ₹ 2,21,177 ₹ 19,60,327 3 ₹ 3,14,987 ₹ 1,90,051 ₹ 16,45,340 4 ₹ 3,49,527 ₹ 1,55,512 ₹ 12,95,813 5 ₹ 3,87,853 ₹ 1,17,185 ₹ 9,07,959 6 ₹ 4,30,383 ₹ 74,655 ₹ 4,77,576 7 ₹ 4,77,939 ₹ 27,462 ₹ 0
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Bandhan Bank Business Loan Eligibility Criteria
- For Individual / Proprietorship / Partnership, the minimum age should be 23 years and maximum age at the time of loan maturity should not exceed 60 years.
- Minimum 2 years experience in the same line of activity is required. However, eligible new Entrepreneurs will also be considered.
- For Non-Individuals, two years track record in same business is required.
Factors Affecting Business Loan Eligibility
- Loan Repayment track
- Credit Performance / Credit Bureau Update
- Debt servicing ability of the customer
- Business Vintage
- Financial Ratios
- Existing relationship
Features and Benefits
- Loan available up to ₹25,00,000
- Flexible tenure lasting up to 84 months
- Minimal processing time
- Fast services
- Easy documentation
- Quick approval
Bandhan Bank Contact Number
For all product related doubts and queries contact the customer care. You can get in contact with customer care through following channels:
- Drop an email at the customer care email id
- Call on the following number:
- Toll- Free Number -1800-258-8181
- Landline- 033-6633-3333
- Head office- 033-6609-0909