Business Loan Rates 20191137 views
Business Loan
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
Catholic Syrian Bank issues long term funds to promote the SME units. It grants the loan for various purposes, be it the expansion of existing unit, product diversification, plant upgradation or any other such purpose. These loans are primarily secured against the fixed assets purchased through loan and the suitable collateral is offered as secondary security. The bank decides the lending amount on the basis of applicant’s requirement, business model and the repayment capacity of the individual. The rate of interest too is affected by the factors mentioned. The repayment schedule is decided as per the estimated cashflow of the business. For more details read the information given below :
Table of Contents
- 1 Catholic Syrian Bank Business Loan Details
- 1.1 Catholic Syrian Bank Business Loan EMI Calculator
- 1.2 Eligibility Criteria for Catholic Syrian Bank Business Loan
- 1.3 Documents Required
- 1.4 Features and Benefits of Catholic Syrian Bank Business Loan
- 1.5 Factors Affecting Business Loan Eligibility
- 1.6 Catholic Syrian Bank Customer Care Number
- 1.7 Catholic Syrian Bank Branches
Catholic Syrian Bank Business Loan Details
Particulars | Details |
---|---|
Interest Rate | Customised |
Loan Amount | Not specified |
Tenure | Not specified |
Processing Fee | As per bank's norms |
How To Apply
To apply for the business loan visit the nearest Catholic Syrian Bank branch or avail the advantage of online banking. You can even call the customer care to inquire and apply for the loan.
Catholic Syrian Bank Business Loan EMI Calculator
Avoid the manual EMI calculation by using the EMI calculator that is designed to help the customers struggling hard to know the installment amount. It makes the calculation effortless and speedy. The result is computed in a very less time. You just need to put the required values in the calculator ( loan amount, tenure and rate of interest) to know your EMI.
For Example – A customer wants to avail a loan of Rs. 10,00,000 for the period of 3 years at the rate of interest ranging between 11.95% p.a – 12.20% p.a, then his calculated EMI will range from Rs. 33,190 – Rs. 33,310.
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.) |
---|---|---|---|---|---|
10,00,000 | 11.95% – 12.20% | 1 | 88,825 - 33,310 | 65,905 - 1,99,157 | 10,65,905 - 11,99,157 |
10,00,000 | 11.95% – 12.20% | 2 | 47,050 - 47,167 | 1,29,203 - 1,32,006 | 11,29,203 - 11,32,006 |
10,00,000 | 11.95% – 12.20% | 3 | 33,190 - 33,310 | 1,94,856 - 1,99,157 | 11,94,856 - 11,99,157 |
Amortization Table
Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
---|---|---|---|
1 | 2,93,786 – 2,94,569 | 1,03,711 – 1,05,934 | 7,05,431 – 7,06,214 |
2 | 3,31,704 – 3,31,763 | 66,517 - 68,016 | 3,73,668 – 3,74,510 |
3 | 3,73,995 – 3,74,845 | 24,626 - 25,210 |
Eligibility Criteria for Catholic Syrian Bank Business Loan
The enterprise covered under the following constitutions :
- Individual
- Proprietorship
- Partnership Firm (registered or unregistered)
- Private and Public Limited Companies
Documents Required
The candidates are required to submit the KYC and financial documents to avail the loan. Below is the list of documents required :
List Of KYC Documents :
KYC Documents |
---|
PAN Card |
Driving License |
Valid Passport |
Voter ID Card |
Job Card issued by NREGA |
The letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number |
Financial Documents Required
Category | List 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 Partnership Firms | 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 |
For Public / 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 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 |
Features and Benefits of Catholic Syrian Bank Business Loan
Following are the features and benefits of availing a business loan from Catholic Syrian Bank :
- Quick Processing
- Minimum Formalities
- Competitive rate of interest
- Personal contact with officer/ representative at your convenience
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
Catholic Syrian Bank Customer Care Number
To resolve your queries and doubts or to apply for the loan call on the customer care number. You can speak to the executives on the toll-free helpline number 1800-266-9090. The executives will solve the query in the best possible way.
Catholic Syrian Bank Branches
The bank has the wide network of branches and ATMs spread across the country. The branches can be located in the following states of the country:
- Maharashtra
- Delhi
- Kerala
- Karnataka
- Uttar Pradesh
- Chandigarh
- Punjab
- Tamil Nadu
- West Bengal
- Andhra Pradesh
- Gujarat
- Goa
- Haryana
- Rajasthan
- Orissa