DCB Bank Business Loan
Last Updated : Nov. 5, 2016, 10:49 a.m.
Business loan product is introduced to assist the business unit running short of funds at the certain point of time. This loan is sanctioned to meet the urgent requirement of the company like the working capital, purchase of assets, expansion of business etc. DCB Bank is offering the same. It provides the loan to the applicants for the maximum period of 15 years. The loan is charged at the fixed and the floating rate of interest. The customer is allowed to prepay the loan amount after 12 months. The customer can even prepay the loan partially.
DCB Bank Business Loan Details
| Particulars | Details |
|---|---|
| Interest Rates | Fixed and floating |
| Loan Amount | Depends on the customer's requirement and the value of the property offered as collateral |
| Tenure | Up to 15 years |
| Processing Fees | As per bank's policy |
| Prepayment Of Loan | Allowed after 12 months |
How To Apply
The customers in need of the business loan can apply for it in the following ways :
- By visiting the nearest branch office
- By availing online service
- By registering the contact number on the official website
DCB Bank Business Loan EMI Calculator
The EMI calculator helps the user in knowing his/her monthly installment amount and the total interest amount. The Business Loan EMI Calculator makes it easy for the user to determine the amount of Equated Monthly Installment (EMI) which is to be paid each month during the loan tenure. The EMI is computed using the principal value, loan tenure and the rate of interest. It is the sum of principal amount and interest.
For Instance – A customer availing a loan of Rs.1,00,00,000 for the tenure of 15 years at the assumed rate of interest has to pay the EMI of Rs.1,39,959 and the total interest of Rs. 1,51,92,568.
Table Showing EMI, Total Interest Amount and Total Repayment Amount
| Loan Amount (in Rs) | Loan Tenure (in years) | Interest Rate (p.a) | EMI (in Rs.) | Total Interest Outgo (in Rs.) | Total Amount (EMI+Interest) (in Rs.) |
|---|---|---|---|---|---|
| 1,00,00,000 | 1 | 15% | 9,02,583 | 8,30,997 | 1,08,30,997 |
| 1,00,00,000 | 2 | 15% | 4,84,866 | 16,36,796 | 1,16,36,796 |
| 1,00,00,000 | 3 | 15% | 3,46,653 | 24,79,518 | 1,24,79,518 |
| 1,00,00,000 | 4 | 15% | 2,78,307 | 33,58,759 | 1,33,58,759 |
| 1,00,00,000 | 5 | 15% | 2,37,899 | 42,73,958 | 1,42,73,958 |
| 1,00,00,000 | 6 | 15% | 2,11,450 | 52,24,410 | 1,52,24,410 |
| 1,00,00,000 | 7 | 15% | 1,92,968 | 62,09,274 | 1,62,09,274 |
| 1,00,00,000 | 8 | 15% | 1,79,454 | 72,27,589 | 1,72,27,589 |
| 1,00,00,000 | 9 | 15% | 1,69,243 | 82,78,284 | 1,82,78,284 |
| 1,00,00,000 | 10 | 15% | 1,61,335 | 93,60,195 | 1,93,60,195 |
| 1,00,00,000 | 11 | 15% | 1,55,091 | 1,04,72,077 | 2,04,72,077 |
| 1,00,00,000 | 12 | 15% | 1,50,088 | 1,16,12,625 | 2,16,12,625 |
| 1,00,00,000 | 13 | 15% | 1,46,029 | 1,27,80,484 | 2,27,80,484 |
| 1,00,00,000 | 14 | 15% | 1,42,704 | 1,39,74,267 | 2,39,74,267 |
| 1,00,00,000 | 15 | 15% | 1,39,959 | 1,51,92,568 | 2,51,92,568 |
Amortization Table
| Year | Principal Payment (in Rs.) | Interest Outgo (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 1,92,379 | 14,87,129 | 98,07,621 |
| 2 | 2,23,303 | 14,56,205 | 95,84,318 |
| 3 | 2,59,201 | 14,20,307 | 93,25,117 |
| 4 | 3,00,866 | 13,78,642 | 90,24,251 |
| 5 | 3,49,233 | 13,30,275 | 86,75,018 |
| 6 | 4,05,374 | 12,74,134 | 82,69,644 |
| 7 | 4,70,541 | 12,08,967 | 77,99,103 |
| 8 | 5,46,184 | 11,33,324 | 72,52,919 |
| 9 | 6,33,984 | 10,45,524 | 66,18,935 |
| 10 | 7,35,899 | 9,43,609 | 58,83,036 |
| 11 | 8,54,198 | 8,25,310 | 50,28,838 |
| 12 | 9,91,515 | 6,87,993 | 40,37,323 |
| 13 | 11,50,906 | 5,28,602 | 28,86,417 |
| 14 | 13,35,919 | 3,43,589 | 15,50,498 |
| 15 | 15,52,224 | 1,28,835 | 0 |
Features And Benefits
- Availability of loans at both fixed and floating rate of interest
- Flexible repayment option
- Simple income documentation
- Provide insurance to cover the loan in the event of death or critical illness
Eligibility
As per the Bank’s policy the business loan is sanctioned to the candidates belonging to the following category:
- Salaried
- Self- employed
Documents Required
| Salaried | Self- Employed |
|---|---|
| Application form with self-attested photograph | Application form with self-attested photograph |
| Age Proof (PAN card / Passport / Mark sheet with date of birth / Birth certificate) | Age Proof (PAN card / Passport / Mark sheet with date of birth / Birth certificate) |
| Proof of residence (Passport / Driving Licence / Aadhar card / Voter’s ID card) | Proof of residence (Passport / Driving Licence / Aadhar card / Voter’s ID card) |
| Proof of identity (Voter’s ID card / Passport / Employer's card / Aadhar card) | Proof of identity (Voter’s ID card / Passport / Employer's card / Aadhar card) |
| 3 month’s salary slips/ salary certificate | Proof of business existence and years in business |
| 6 month’s bank statements | 6 month’s bank statements |
| Copy of title documents | Copy of title documents |
| Processing fee cheque | Processing fee cheque |
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
DCB Bank Business Loan Interest Rates
The bank offers the business loan at the fixed and floating rate of interest. The fixed rate of interest is offered on the loan availed for the shorter period of time. Such rate of interest remains consistent over the loan tenure . However, in the case of the floating rates, the rate of interest changes during the tenure with the change in the bank’s base rate.
DCB Bank Business Loan Statement
The customer can place the request for the statement in either of the following ways:
- In person by visiting the nearest branch
- By calling on the customer care
- By mailing on the bank’s official email id by your registered mail id
DCB Bank Customer Care
In case, you want to know more about the business loan offered by the bank call on the customer care number. The executives are available to redress all your doubts and queries. Feel free to dial the customer care number – 1800 209 5363.