Capital First Business Loan

Business Loan 698 views

Business Loan

Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility

    Almost done, few more details required.


     

    Get easy business loans from Capital First to expand your business and increase the productivity. Both existing and new customers can apply for the loan. The loan is available for the maximum period of 36 months. The eligible candidates can avail loan up to Rs. 75,00,000. The processing fee is 1.99% of the loan amount. Foreclosure is not permitted before 6 months of disbursal and after that, the foreclosure is charged. The prepayment fee is 5% of the outstanding principal amount.

    Capital First Business Loan Details

    How To Apply

    The eligible candidates can apply for Capital First business loan by visiting the nearest branch office. They can apply online using the internet. Just login the official website and click on the apply now button. To apply the candidates can also call on 1800-103-2791 .

    Capital First Business Loan EMI Calculator

    EMI calculator is the calculator used to compute the value of monthly installment. The calculator assists in the calculation and makes it quick and simple. The details regarding the loan amount, tenure and rate of interest are to be placed in the calculator to get the result. EMI thus, calculated is the sum of the principal amount and the rate of interest.

    For Example, if the borrower takes the loan of Rs. 75,00,000 for the tenure of 3 years at the prevailing rate of interest then the EMI computed will be ranging between Rs. 2,63,678 – Rs. 2,94,246 .

    Table Showing EMI, Total Interest Amount and Total Amount

    Loan AmountRate Of InterestTenorEMITotal Interest AmountTotal Amount (Principal + Interest)
    Rs. 75,00,00016% p.a – 24%p.a1 yearRs. 6,80,481 - Rs. 7,09,197Rs. 6,65,777 - Rs. 10,10,364Rs. 81,65,777 - Rs. 85,10,364
    Rs. 75,00,00016% p.a – 24%p.a2 yearsRs. 3,67,223 - Rs. 3,96,533Rs. 13,13,360 - Rs. 20,16,798Rs. 88,13,360 - Rs. 95,16,798
    Rs. 75,00,00016% p.a – 24%p.a3 yearsRs. 2,63,678 - Rs. 2,94,246Rs. 19,92,399 - Rs. 30,92,870Rs. 94,92,399 - Rs. 1,05,92,870

    Amortization Table

    YearPrincipalInterestBalance Amount
    1Rs. 5,005,571 - Rs. 5,007,182Rs. 415,497 - Rs. 529,393Rs. 0

    Features and Benefits

    • Repayment in easy equatted monthly installments
    • Quick loan processing
    • Door to door service
    • Simple documentation
    Must Read  Standard Chartered Bank Business Loan

    Capital First Business Loan Eligibility Criteria :

    The candidates belonging to following categories are eligible to apply for the loan –

    • Self- employed individuals / professionals
    • Sole proprietorship firms
    • Partnership firms
    • Private limited companies and closely held limited companies
    • Doctors

    Capital First Business Loan Application Form

    You can fill the application form online and get the loan instantly. Just be careful while entering the details in the following sections:

    • Personal details
    • Loan details
    • Financial details

    Documents Required :

    • PAN Card – For Individual / Partnership Firm / Company
    • Identity Proof – Anyone (e.g. Voter ID / Driving License / Passport / Aadhar Card)
    • Address Proof – Anyone (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
    • Ownership proof of either residence or office either in the name of applicant or jointly with family members
    • Business Continuity Proof – Anyone document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
    • Letter certifying end use of the business loan funds on Business Letterhead
    • Passport Size Photographs of all applicants and co-applicants

    Financial Documents Required

    CategoryList of Documents
    Self-Employed Individuals / Sole Proprietorships- Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
    - Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
    For Self-Employed Professionals- Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
    - Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
    - Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.)
    For Partnership Firms / Private Limited Companies- Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
    - Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
    - Partnership Deed and partnership authority letter for partnership firms
    - Memorandum and Articles of Association and Board Resolution from the company
    - Certificate of Incorporation (COI) for companies
    - Latest shareholding patterns for Private Ltd. / Public Ltd. companies
    Must Read  State Bank Of Patiala Business Loan

    Factors Affecting Business Loan Eligibility:

    • Past Loan Track
    • Credit Bureau Update
    • Repayment capacity of customer
    • Business Longevity
    • Financial Ratios of the company

    Capital First Business Loan Interest Rate

    Loan interest rate is the rate at which the lender charges the borrower for taking the loan. Apart from the loan amount the borrower has to pay the interest for availing the loan service. At present, the interest rate charged by Capital First ranges from 16% p.a – 24% p.a .

    Capital First Customer Care Number

    Feel free to confront your queries and doubts. Contact the customer care executive on the toll – free number 1860-500-9900. The number is accessible from Monday to Saturday between 9:00 AM to 7:00 PM. The new customers can call on 1800-103-2791 or can visit the nearest Capital First Branch.