Dena Bank Business Loan
Last Updated : Dec. 1, 2016, 6:15 a.m.
To fund your diverse business needs of expansion, investment, renovation, up-gradation and purchase of assets take a business loan from Dena Bank. The bank provides a loan to the candidates requiring funds and assists them in accelerating the business. There are different loan schemes from which the candidate can choose as per his/her eligibility. The loan amount and tenure also vary according to the schemes. More details regarding the schemes, tenure, and rate of interest are given below.
Dena Bank Business Loan Details
| Particulars | Details |
|---|---|
| Interest Rate | 8.85% - 16.40% |
| Loan Amount | Up to ₹5 crores |
| Tenure | Up to 10 years |
| Processing Fee | 0.50% of the loan amount |
How To Apply:
The candidate willing to avail the loan from the bank can apply for the same by visiting the nearest bank branch on a working day.
Dena Bank Business Loan EMI Calculator
One can calculate the total amount of interest to be paid on the loan using the Business Loan EMI Calculator . The calculator makes it easy for the user to determine the amount of Equated Monthly Installment (EMI) to be paid each month during the loan tenure. The EMI is computed using the principal value, loan tenure and rate of interest. It is the sum of principal amount and interest.
For Example – If a CA avails a loan of ₹50,00,000 for the period of 10 years at the interest rate of 9.55% p.a. then his EMI would be:
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 3,14,038 | ₹ 4,63,990 | ₹ 46,85,961 |
| 2 | ₹ 3,45,377 | ₹ 4,32,651 | ₹ 43,40,584 |
| 3 | ₹ 3,79,843 | ₹ 3,98,185 | ₹ 39,60,740 |
| 4 | ₹ 4,17,749 | ₹ 3,60,279 | ₹ 35,42,991 |
| 5 | ₹ 4,59,437 | ₹ 3,18,591 | ₹ 30,83,553 |
| 6 | ₹ 5,05,286 | ₹ 2,72,742 | ₹ 25,78,267 |
| 7 | ₹ 5,55,710 | ₹ 2,22,318 | ₹ 20,22,556 |
| 8 | ₹ 6,11,166 | ₹ 1,66,862 | ₹ 14,11,389 |
| 9 | ₹ 6,72,156 | ₹ 1,05,872 | ₹ 7,39,233 |
| 10 | ₹ 7,39,745 | ₹ 38,796 | ₹ 0 |
Business Loan Schemes, Eligibility, Quantum of Loan and Tenure
| Scheme | Eligibility | Quantum of Loan (in ₹) | Tenure |
|---|---|---|---|
| Dena Trade Finance Scheme | A commodity trader, stockist or dealer registered under sales tax | Minimum – ₹2.50 lacs | Maximum- 5 years |
| The applicant should be a permanent resident of the city (If not permanent resident, property offered as collateral security is in his/her name and located at the same location) | Maximum - ₹5 crores | ||
| Dena Doctor + | Individuals/ partnership firms | Maximum - ₹2 crores | Maximum - 7 years |
| Promoters should be registered practitioners and possessing minimum qualification MBBS and BDS | |||
| Borrower should be registered with respective Council | |||
| The applicant should be over 25 years of age at the time of commencement of loan and not over 65 years at the time of loan maturity | |||
| Applicant should not be a defaulter of any Bank / Financial Institution | |||
| KYC norms to be applied while identifying borrowers | |||
| Nursing Home / Hospitals are not covered under this scheme | |||
| Dena Professional Loan Schemes | Whole time practising Chartered Accountants, Company Secretary and Chartered Financial Analyst, not employed elsewhere and are income tax assessee for last two years | Minimum- ₹2 Lacs | Maximum – 10 years |
| Maximum – ₹1 crore |
Dena Bank Loan Application Form
To avail the benefit of a loan the candidate has to submit the duly filled application form along with the requisite documents. The form is available at the nearest bank branch. Collect the application form from the closest branch and submit it along with the required documents.
Documents Required :
| KYC Documents | Financial Documents |
|---|---|
| Valid Passport | Income Tax Returns receipts of the last two years |
| Voter's Identity Card | Latest 6 months bank statements |
| Valid Driving Licence | Banking and Loan payment history |
| Aadhaar Letter/Card | Profit & Loss Statements of the last two years |
| NREGA Card | Latest Balance Sheet |
| PAN Card | |
| Passport Size Photographs | |
Features and Benefits
- Different schemes for diverse needs
- Loans available against hypothecation of assets
- Availability of high quantum loan
- Flexible tenure and repayment schedule
- Reasonable rate of interest
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
Dena Bank Customer Care
For all queries, complaints, suggestions and grievances contact the customer care executives. You can visit the nearest bank branch and speak to the customer dealer in person.