Manappuram Business Loan
Last Updated : Nov. 16, 2016, 8:48 a.m.
Looking for a secured funding solution to enhance your business performance? Why not avail a loan from Manappuram Finance Limited. The company provides SME loans of higher value to the entities that require funds to accelerate the business. The loans are offered to the eligible candidates against the collateral security of the property. The loans of the amount ranging from Rs. 5 lacs to 2 crores are given at an attractive rate of interest. The loans are to be repaid in the form of EMI within the tenure opted for. The details regarding tenure and loan amount are mentioned below :
Manappuram Business Loan Details
| Particulars | Details |
|---|---|
| Interest Rate | Customized |
| Loan Amount | Rs. 5,00,000 – 2,00,00,000 |
| Tenure | 24 months – 60 months |
| Processing Fee | As per company's policy |
How To Apply
To apply for the business loan login the official website and click on the “ Request A Call Back” option. The dialogue box will appear. Fill in the contact details and click on the submit button. The company executives will call you to guide you further.
Manappuram Business Loan EMI Calculator
The Business Loan EMI Calculator is a calculator designed to make the calculation of EMI quick and simple. It computes the realistic results in the shortest time. The calculator helps the user to know his/ her EMI value and plan for the future payments accordingly. The user can also learn about the amount of interest he/ she has to pay for the loan amount being taken. The calculator works on a simple principle. The user only needs to enter the loan amount, the rate of interest and the tenure of the loan.
For Example – A borrower takes a loan of Rs. 2,00,00,000 for the period of 5 years then his calculated EMI will be Rs. 4,70,566 . The total repayment amount will mount up to Rs. 2,82,33,937.
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.) |
|---|---|---|---|---|---|
| 2,00,00,000 | 14.5% | 1 | 18,00,451 | 16,05,411 | 2,16,05,411 |
| 2,00,00,000 | 14.5% | 2 | 9,64,989 | 31,59,725 | 31,59,725 |
| 2,00,00,000 | 14.5% | 3 | 6,88,420 | 47,83,104 | 2,47,83,104 |
| 2,00,00,000 | 14.5% | 4 | 5,51,559 | 64,74,835 | 2,64,74,835 |
| 2,00,00,000 | 14.5% | 5 | 4,70,566 | 82,33,937 | 2,82,33,937 |
Amortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 29,36,895 | 27,09,897 | 1,70,63,105 |
| 2 | 33,92,218 | 22,54,574 | 1,36,70,887 |
| 3 | 39,18,132 | 17,28,660 | 97,52,755 |
| 4 | 45,25,580 | 11,21,212 | 52,27,175 |
| 5 | 52,32,793 | 4,19,588 | 0 |
Eligibility Criteria:
- Self- Employed Professionals/ Non- Professionals
- Individuals/ Sole Proprietorship
- Partnership & Limited Companies
Documents Required:
| KYC Documents |
|---|
| Copy of PAN Card |
| Passport Copy |
| Aadhar Card |
| Electricity Bill |
| Registered Rent Agreement |
| Financial Documents Required | ||||
|---|---|---|---|---|
| Category | List of Documents | |||
| Individuals / Sole Proprietorships | Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.) Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet | |||
| For Self-Employed Professionals/ Non- Professionals | Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.) Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.) | |||
| For Partnership Firms / Limited Companies | Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.) Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet Partnership Deed and partnership authority letter for partnership firms Memorandum and Articles of Association and Board Resolution from the company Certificate of Incorporation (COI) for companies Latest shareholding patterns for Private Ltd. / Public Ltd. companies | |||
Acceptable Properties
Following is the list of properties that are accepted as collateral –
- Self Occupied Commercial or Residential Properties
- Land which extends more than 3 Cents in Corporation areas, 5 Cents
in Municipal areas and 10 Cents in Rural areas - Vacant Land and Plot with approach roads
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
Manappuram Loan Customer Care Number
For further information regarding the business loan or to know about other products and services provided by the company, contact the customer care. You can contact the customer care executive by:
- Calling on toll- free number 1800-420-22-33 active from Monday to Saturday, between 8:00 AM to 8:00 PM
- Sending an email to customer care mail id available on website
Manappuram Loan Branches
| State | Sme-Location |
|---|---|
| Andhra Pradesh | Vijayawada |
| Gujarat | Ahmedabad |
| Karnatka | Bangalore |
| Karnatka | Mysore |
| Kerala | Adoor |
| Kerala | Calicut |
| Kerala | Cochin |
| Kerala | Kollam |
| Kerala | Perinthalmanna |
| Kerala | Thrissur |
| Maharashtra | Mumbai |
| Maharashtra | Pune |
| Rajastan | Jaipur |
| Tamil Nadu | Chennai |