Dhanlaxmi Bank Business Loan – EMI Calculator & Eligibility- 2017

Business Loan

Business Loan

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    Now enjoy the facility of a business loan from Dhanlaxmi bank. The loans are provided for expansion and growth of business entities engaged in trading, manufacturing and services. The customer can avail loan up to Rs.  5 Crores. The interest rate varies from 12.13% p.a – 14.60% p.a. The overdue payment is charged at the penal rates that is 2% of the outstanding amount.

    Dhanlaxmi Bank Business Loan Details

    ParticularsDetails
    Rate of Interest12.13% p.a. -14.60% p.a.
    Loan AmountRs. 10,00,000 – Rs. 5,00,00,000
    Tenure12 months – 60 months
    Late Payment Charges2% of the outstanding amount

    How To Apply:

    The eligible candidates can apply for Dhanlaxmi bank business loan. The service can be availed either by applying online or by visiting the nearest branch office.

    Dhanlaxmi Bank Business Loan EMI calculator :

    EMI Calculator is a useful device designed to make calculations quick and simple. The calculator helps in computing the realistic EMI value and also reveal the amount of interest charged on the sanctioned loan amount. You get to know the total repayment amount you are liable to pay by the end of the loan tenure. Just feed the information regarding loan amount, tenure and rate of interest in the calculator to know your EMI amount.

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    For Example –   On a loan of Rs. 10,00,000 availed for the tenure of 5 years the monthly instalment would be Rs. 22,310 – Rs. 23,580 if interest is charged at the rate ranging from 12.13% p.a – 14.60% p.a.

    Table Showing EMI, Total Interest Amount, Total Repayment Amount

    Loan AmountLoan TenureInterest RateEMITotal Interest OutgoTotal Amount (EMI+Interest)
    Rs. 10,00,0001 year12.13% p.a – 14.60% p.aRs. 88,910 - Rs. 90,070Rs. 66,915 - Rs. 80,836Rs. 10,66,915 - Rs. 10,80,836
    Rs. 10,00,0002 years12.13% p.a – 14.60% p.aRs. 47,134 - Rs. 48,297Rs. 1,31,221 - Rs. 1,59,124Rs. 11,31,221 - Rs. 11,59,124
    Rs. 10,00,0003 years12.13% p.a – 14.60% p.aRs. 33,276 - Rs. 34,470Rs. 1,97,952 - Rs. 2,40,912Rs. 11,97,952 - Rs. 12,40,912
    Rs. 10,00,0004 years12.13% p.a – 14.60% p.aRs. 26,398 - Rs. 27,628Rs. 2,67,090 - Rs. 3,26,164Rs. 12,67,090 - Rs. 13,26,164
    Rs. 10,00,0005 years12.13% p.a – 14.60% p.aRs. 22,310 - Rs. 23,580Rs. 3,38,612 - Rs. 4,14,829Rs. 13,38,612 - Rs. 14,14,829

    Amortization Table

    YearPrincipal PaymentInterest OutgoBalance Amount
    1Rs. 146,508 - Rs. 154,843Rs. 112,877 - Rs. 136,452Rs. 845,157- Rs. 853,492
    2Rs. 169,387 - Rs. 174,704Rs. 93,016 - Rs. 113,573Rs. 670,453- Rs. 684,105
    3Rs. 195,842 - Rs. 197,113Rs. 70,607 - Rs. 87,118Rs. 473,340- Rs. 488,263
    4Rs. 222,399- Rs. 226,428Rs. 45,321 - Rs. 56,532Rs. 250,941- Rs. 261,835
    5Rs. 251,164- Rs. 262,119Rs. 16,793 - Rs. 21,169Rs. 0

    Features And Benefits

    • Loans available for the amount ranging from Rs. 10 lakhs to Rs. 5 Crores
    • Longer tenure lasting up to 5 years
    • Quick disbursal
    • Simplified documentation
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    Dhanlaxmi Business Loan Eligibility Criteria:

    The Dhanlaxmi business loans are available for existing enterprises. Only the entities covered under following profiles are funded:

    • Manufacturers
    • Traders
    • Retailers
    • Wholesalers
    • Contractors
    • Service Providers

    The applicant must stand on the following parameters :

    • The age of the applicant should be above 23 years
    • He should have the minimum wok experience of 5 years with 4 years continuation in same business

    Dhanlaxmi Business Loan Application Form :

    Fill in the following details in the application form to avail the loan benefit:

    • Loan Details ( Loan amount, tenure, reason of taking loan)
    • Non- individual details (if applicable)
    • Registered address and operating address of the entity
    • Contact Details
    • Financial Details
    • Individual Applicant Details ( Name, residential address, contact details)
    • Co- Applicant Details

    Documents Required :

    • Loan Application Form
    • KYC & Constitutional Documents
    • Audited Financial report
    • Borrower's & Key Personnel Profiles
    • Borrower's Existing Bank Sanction Letter
    • Borrower's Existing Bank Statements
    • Borrower's External Rating Report ( if available)
    • Key Personnel Net worth Statements

    List Of 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

    Dhanlaxmi Bank Business Loan Interest Rate

    The rate of interest is calculated using the below mentioned formula:

    Rate of Interest = 1 year MCLR + (1.78% 0r 4.25% )

     Where, 1 year MCLR = 10.35% 

     Therefore, the rate of interest varies from 12.13% p.a – 14.60% p.a depending on the amount of loan and tenure.

    Dhanlaxmi Bank Customer Care

    For any grievance or query contact the customer care executive. The customer care is operational at all the bank branches and regional centres. The executives will help you in the best possible way. You can also place a call on the customer care number 1800 425 1747.

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    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