Dhanlaxmi Bank Business Loan
Last Updated : May 28, 2021, 9:12 p.m.
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
| Particulars | Details |
|---|---|
| Rate of Interest | 12.13% p.a. -14.60% p.a. |
| Loan Amount | Rs. 10,00,000 – Rs. 5,00,00,000 |
| Tenure | 12 months – 60 months |
| Late Payment Charges | 2% 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 :
Business Loan 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.
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 Amount | Loan Tenure | Interest Rate | EMI | Total Interest Outgo | Total Amount (EMI+Interest) |
|---|---|---|---|---|---|
| Rs. 10,00,000 | 1 year | 12.13% p.a – 14.60% p.a | Rs. 88,910 - Rs. 90,070 | Rs. 66,915 - Rs. 80,836 | Rs. 10,66,915 - Rs. 10,80,836 |
| Rs. 10,00,000 | 2 years | 12.13% p.a – 14.60% p.a | Rs. 47,134 - Rs. 48,297 | Rs. 1,31,221 - Rs. 1,59,124 | Rs. 11,31,221 - Rs. 11,59,124 |
| Rs. 10,00,000 | 3 years | 12.13% p.a – 14.60% p.a | Rs. 33,276 - Rs. 34,470 | Rs. 1,97,952 - Rs. 2,40,912 | Rs. 11,97,952 - Rs. 12,40,912 |
| Rs. 10,00,000 | 4 years | 12.13% p.a – 14.60% p.a | Rs. 26,398 - Rs. 27,628 | Rs. 2,67,090 - Rs. 3,26,164 | Rs. 12,67,090 - Rs. 13,26,164 |
| Rs. 10,00,000 | 5 years | 12.13% p.a – 14.60% p.a | Rs. 22,310 - Rs. 23,580 | Rs. 3,38,612 - Rs. 4,14,829 | Rs. 13,38,612 - Rs. 14,14,829 |
Amortization Table
| Year | Principal Payment | Interest Outgo | Balance Amount |
|---|---|---|---|
| 1 | Rs. 146,508 - Rs. 154,843 | Rs. 112,877 - Rs. 136,452 | Rs. 845,157- Rs. 853,492 |
| 2 | Rs. 169,387 - Rs. 174,704 | Rs. 93,016 - Rs. 113,573 | Rs. 670,453- Rs. 684,105 |
| 3 | Rs. 195,842 - Rs. 197,113 | Rs. 70,607 - Rs. 87,118 | Rs. 473,340- Rs. 488,263 |
| 4 | Rs. 222,399- Rs. 226,428 | Rs. 45,321 - Rs. 56,532 | Rs. 250,941- Rs. 261,835 |
| 5 | Rs. 251,164- Rs. 262,119 | Rs. 16,793 - Rs. 21,169 | Rs. 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
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.
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