Dena Bank Business Loan

Business Loan 1355 views

Business Loan

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    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 Rate10.90% p.a. - 11.40% p.a.
    Loan AmountUp to Rs. 5 crores
    TenureUp to 10 years
    Processing Fee0.50% 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.

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    Dena Bank Business Loan EMI Calculator

    One can calculate the total amount of interest to be paid on the loan using the 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 Rs. 1,00,00,000 for the period of 10 years at the interest rate of 11.40% p.a. then his EMI will be Rs.

    Table Showing EMI, Total Interest Amount and Total Repayment

    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.)
    1000000011.40%188568362820210628202
    1000000011.40%2467938123050411230504
    1000000011.40%3329285185424811854248
    1000000011.40%4260402249929812499298
    1000000011.40%5219424316546313165463
    1000000011.40%6192396385250013852500
    1000000011.40%7173335456012014560120
    1000000011.40%8159250528798315287983
    1000000011.40%9148479603570816035708
    1000000011.40%10140024680287316802873

    Amortization Table

    Year (in Rs.)Principal (in Rs.)Interest (in Rs.)Balance Amount (in Rs.)
    156943211108569430568
    263784910424398792719
    37144869658028078233
    48003318799577277902
    58964877838016381415
    610042016760875377214
    711248535554354252361
    812600074202812992354
    914113952688931580959
    10158227799317

    Business Loan Schemes, Eligibility, Quantum of Loan and Tenure

    SchemeEligibilityQuantum of LoanTenure
    Dena Trade Finance SchemeA commodity trader, stockist or dealer registered under sales taxMinimum – Rs. 2.50 lacsMaximum- 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 -  Rs. 5 crores
    Dena Doctor +Individuals/ partnership firmsMaximum - Rs. 2 croresMaximum - 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 SchemesWhole time practising Chartered Accountants, Company Secretary and Chartered Financial Analyst, not employed elsewhere and are income tax assessee for last two yearsMinimum- Rs. 2 LacsMaximum – 10 years
    Maximum – 1 crore 
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    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 DocumentsFinancial Documents
    Valid PassportIncome Tax Returns receipts of the last two years
    Voter's Identity CardLatest 6 months bank statements
    Valid Driving LicenceBanking and Loan payment history
    Aadhaar Letter/CardProfit & Loss Statements of the last two years
    NREGA CardLatest 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 Business Loan Interest Rate

    The business loan rate of interest is linked to 1 year MCLR and is liable to change from time to time. At present, the MCLR is 9.40%. The interest is calculated by adding certain % to the MCLR.

    Interest Rate Table

    Tenure ROI
    Up to 3 years 10.90% p.a.
    Above 3 years 11.40% p.a.

    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.