Bhartiya Mahila Bank Business Loan
Last Updated : Nov. 14, 2016, 5:59 a.m.
The business loans are the loans taken by the entrepreneurs for the business purpose. These loans can be used for any business purpose like – to meet the working capital requirement or for business expansion. Business loans can be availed from both the banks and the NBFCs. The Bhartiya Mahila Bank is one such bank that lends the business loan up to the maximum value of Rs. 20 Crores to the manufacturing enterprises. It offers a loan to the women entrepreneurs at the concessional rate of interest and grants collateral free loan up to Rs. 1 crore under CGTMSE cover. For details regarding rate of interest, tenure and processing fee read the article below –
Bhartiya Mahila Bank Business Loan Details
| Particulras | Details | ||||
|---|---|---|---|---|---|
| Interest Rate | 10.15% p.a. -13.65% p.a. | ||||
| Loan Amount | For retail trader and service enterprises : Up to Rs. 5,00,00,000 For manufacturing enterprises : Up to Rs. 20,00,00,000 Collateral free loan: Up to Rs. 1,00,00,000 | ||||
| Tenure | 7 years | ||||
| Processing Fee | As per bank's norms |
How To Apply
The interested candidates can apply for the business loan by visiting the nearest bank branch or can contact the bank representatives on the customer care number.
Bhartiya Mahila Bank Business Loan EMI Calculator
Equated Monthly Installment commonly known as EMI, is the breakdown of the maturity value of the loan that the borrower is liable to pay to the lender. This amount comprises of the principal amount and the interest amount. Though it’s calculated using the complex formula but can be computed quickly using the Business Loan EMI Calculator . Feed the required information like the loan amount, tenure and the rate of interest in the calculator and know your EMI.
For Example : A trader wants to take the loan of Rs. 5,00,00,000 for the expansion of his business for the period of 7 years. He uses the calculator to know his EMI, which ranges from Rs. 8,33,940 – 9,27,360 at the rate of interest ranging between 10.15% p.a. – 13.65% p.a.
Table Showing EMI, Total Interest Amount, Total Repayment Amount
| Loan Amount (in Rs.) | Interest Rate (p.a.) | Tenure (in years) | EMI (in Rs.) | Total Interest Amount (in Rs.) | Total Repayment Amount (Principal + Interest) (in Rs.) |
|---|---|---|---|---|---|
| 5,00,00,000 | 10.15% - 13.65% | 1 | 43,99,283 - 44,81,126 | 27,91,400 - 37,73,511 | 5,27,91,400 - 5,37,73,511 |
| 5,00,00,000 | 10.15% - 13.65% | 2 | 23,10,709 - 23,92,385 | 54,57,027 - 74,17,245 | 5,54,57,027 - 5,74,17,245 |
| 5,00,00,000 | 10.15% - 13.65% | 3 | 16,16,883 - 17,00,394 | 82,07,783 - 1,12,14,192 | 5,82,07,783 - 6,12,14,192 |
| 5,00,00,000 | 10.15% - 13.65% | 4 | 12,71,734 - 13,57,561 | 1,10,43,234 - 1,51,62,952 | 6,10,43,234 - 6,51,62,952 |
| 5,00,00,000 | 10.15% - 13.65% | 5 | 10,66,046 - 11,54,360 | 1,39,62,778 - 1,92,61,589 | 6,39,62,778 - 6,92,61,589 |
| 5,00,00,000 | 10.15% - 13.65% | 6 | 9,30,078 - 10,20,940 | 1,69,65,650 - 2,35,07,659 | 6,69,65,650 - 7,35,07,659 |
| 5,00,00,000 | 10.15% - 13.65% | 7 | 8,33,940 - 9,27,360 | 2,00,50,923 - 2,78,98,237 | 7,00,50,923 - 7,78,98,237 |
Amortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) | ||
|---|---|---|---|---|---|
| 1 | 45,83,020 – 51,68,329 | 48,38,951 – 65,45,300 | 4,48,31,671 – 4,54,16,980 | ||
| 2 | 52,49,262 – 57,18,019 | 42,89,261 – 58,79,058 | 3,91,13,652 – 4,01,67,718 | ||
| 3 | 60,12,360 – 63,26,174 | 36,81,106 – 51,15,960 | 3,27,87,478 – 3,41,55,358 | ||
| 4 | 68,86,390 – 69,99,010 | 30,08,270 – 42,41,930 | 2,57,88,468 – 2,72,68,968 | ||
| 5 | 77,43,406 – 78,87,476 | 22,63,874 – 32,40,844 | 1,80,45,062 – 1,93,81,492 | ||
| 6 | 85,66,978 – 90,34,095 | 14,40,302 – 20,94,225 | 94,78,084 – 1,03,47,397 | ||
| 7 | 94,85,078 – 1,03,57,827 | 5,29,142 – 7,80,922 | 0 |
Eligibility Criteria for Bhartiya Mahila Bank Business Loan
The following segments are eligible to apply for the Bhartiya Mahila Bank Business Loan :
- Sole Proprietor
- Partnership Firms
- Pvt. Ltd. / Ltd. Companies
- Co- op. Society
Bhartiya Mahila Bank Business Loan Application Form
The application form can be availed from the MSME branch of the Union Bank of India. The following details are to be necessarily field in the form :
- Name and Address of the enterprise
- Whether belong to SC/ ST/ OBC or Minority
- Contact number
- E-mail address
- PAN Card
- Constitution (Proprietory /Partnership /Pvt. Ltd. Co./Limited Co. / Co.-op. society)
- Date of establishment
- Name, address and PAN details of proprietors/ partners/ directors of company
- Banking and existing credit details
- Loan details
- Details of collateral security offered
Documents Required :
| List Of Documents | |||||
|---|---|---|---|---|---|
| Proof of Identity: Voter’s ID Card/ Passport/ Driving License/ PAN Card/ Signature identification from present bankers of proprietor, partner of director (if a company) | |||||
| Proof of Residence: Recent telephone bills, electricity bill, property tax receipt /Passport/ Voter’s ID Card of Proprietor, partner of Director (if a company) | |||||
| Proof of Business Address | |||||
| Proof of Minority | |||||
| Last three years balance sheets of the units along with income tax/ sales tax returns etc. (Applicable for all cases from Rs.2 lakhs and above) However, for cases below fund based limits of Rs. 25 lakhs if audited balance sheets are not available, then unaudited balance sheets are also acceptable as per extant instructions of the bank | |||||
| Memorandum and articles of association of the Company/ Partnership Deed of partners etc. | |||||
| Assets and liabilities statement of promoters and guarantors along with latest income tax returns | |||||
| Rent Agreement (if business premises on rent) and clearance from pollution control board if applicable | |||||
| SSI / MSME registration if applicable | |||||
| Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan (for all cases of Rs. 2 lakhs and above) | |||||
| In case of takeover of advances, sanction letters of facilities being availed from existing bankers/ Financial Institutions along with detailed terms and conditions | |||||
| Photocopies of lease deeds/title deeds of all the properties being offered as primary and collateral securities | |||||
| Position of accounts from the existing bankers and confirmation about the asset being standard with them (Required only in case of takeover) | |||||
| Manufacturing process if applicable, major profile of executives in the company, any tieups, details about raw material used and their suppliers, details about the buyers, details about the major competitors and the company's strength and weaknesses as compared to their competitors |
Features and Benefits of Bhartiya Mahila Bank Business Loan
- Concession of 0.25% in interest rate for women entrepreneurs
- Combo of working capital and term loan
- Flexible repayment tenure lasting up to 7 years
- No collateral required for the loan up to Rs. 1,00,00,000
Bhartiya Mahila Bank Customer Care Number
To solve your queries and doubts contact the product experts on 011- 47472100. The executives will provide you with the authentic information and resolve your doubts in the best possible way.