Nabfins Business Loan

Business Loan

Business Loan

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    Nabard Financial Services Private Limited (NABFINS) is a Non-Banking Financial Company registered with RBI. It aims at providing credit and other facilities for promotion, expansion, commercialization and modernization of agriculture and allied activities. The company extends a loan to the people engaged in agriculture and non-farm sectors. It helps by providing micro-finance service to the needy and disadvantageous sections of the society for securing their prosperity in both urban and rural areas. The company offers the loan up to Rs. 25,00,000 at the rate of interest ranging between 14% p.a. – 16.90% p.a. The company charges 1% of the loan amount as the processing fee and 15% of the processing fee as service tax.

    Here, are the details of the loan provided by the company :

    Nabfins Business Loan Details

    ParticularsDetails
    Interest Rate14% p.a. - 16.90% p.a.
    Loan AmountUp to Rs. 25,00,000
    TenureAgriculture and allied services : 5 years
    Others : 3 years
    Processing Loan1% of the loan amount
    Service Tax15% of the processing fee
    Penal ChargesNil
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    How To Apply

    The loan can be availed from the branches or through the company agents.

    Nabfins Business Loan EMI Calculator

    To make the repayment of loan convenient and pocket- friendly the total repayment amount is divided into parts that are termed as EMIs. EMI stands for Equated Monthly Installment and is payable per month till the loan tenor ends. This amount comprises of the principal amount and the interest amount. Though it’s calculation is tough but it can be simplified using the EMI calculator. The device provides the accurate information in the shortest time possible. The user just needs to feed the information regarding the loan amount, tenure and the rate of interest. On insertion of the relevant values the calculator will compute the EMI and the total repayment amount.

    For Example – A farmer takes up a loan of Rs. 25,00,000 for the period of 5 years then his monthly installment will range from Rs. 58,171 – 61,997. His total repayment amount at the rates ranging between 14% – 16.90% will be Rs. 34,90,238 – 37,19,826.

    To know the EMI and total interest payable on the loan amount of Rs. 25,00,000 availed for different time period at same rate of interest see the table below :

    Table Showing EMI, Total Interest Amount, Total Repayment Amount

    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.)
    25,00,00014% - 16.90%12,24,468 - 2,27,8931,93,614 - 2,34,71926,93,614 - 27,34,719
    25,00,00014% - 16.90%21,20,032 - 1,23,4863,80,773 - 4,63,65428,80,773 - 29,63,654
    25,00,00014% - 16.90%385,444 - 89,0075,75,987 - 7,04,26830,75,987 - 32,04,268
    25,00,00014% - 16.90%468,316 - 72,0087,79,177 - 9,56,40032,79,177 - 34,56,400
    25,00,00014% - 16.90%558,171 - 61,9979,90,238 - 12,19,82634,90,238 - 37,19,826
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    Amortization Table

    YearPrincipal
    (in Rs.)
    Interest
    (in Rs.)
    Balance Amount (in Rs.)
    13,47,574 - 3,71,2773,26,775 – 3,96,39021,28,723 – 21,52,426
    24,11,080 - 4,26,7232,71,329 – 3,32,88417,02,000 – 17,41,346
    34,86,196 - 4,90,451 2,07,601 – 2,57,76812,11,549 – 12,55,150
    45,63,698 – 5,75,0351,34,354 – 1,68,9296,47,851 – 6,80,115
    56,48,521 – 6,80,97650,170 - 63,853

    Eligibility Criteria :

    The company provides a loan to the following categories of candidates :

    • Individuals/ Farmers/ Artisans
    • Joint Liability Group (JLG)
    • Small and marginal producers group
    • Self Help Group (SHG)/ SHG Federations
    • Micro and small enterprises
    • Producers’ Companies (particularly those of the small and marginal segment)
    • Souharda & other Cooperative Societies
    • Mutually Aided/ Trusts / Societies
    • Organisations that support production/ aggregation/ marketing in sectors like agriculture, sericulture, handlooms, handicrafts
    • Companies/ corporate bodies/ partnerships engaged in agriculture, non- farm activities mainly with focus on poor / disadvantaged sections of the population, remote geographies etc

    Documents Required :

    • PAN Card – For Individual / Partnership Firm / Company
    • Identity Proof – Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
    • Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
    • Ownership proof of either residence or office either in the name of applicant or jointly with family members
    • Business Continuity Proof – Any one document (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
    • Letter certifying end use of the business loan funds on Business Letterhead
    • Passport Size Photographs of all applicants and co-applicants

    Features and Benefits

    • Loans to assist the poor and disadvantaged solution of society
    • Low processing fee and other charges
    • Availability of funds up to Rs. 25 lacs
    • Loans extended either through branches or agents
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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

    Nabard Customer Care

    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 on the following numbers :

    • Toll- Free number: 1800 1024 205
    • Telephone : + 91 80 26970500
    • Fax : + 91 80 26970504

    You can even contact the executives by visiting the branch offices. The Nabfins Head Office is in Bengaluru, Karnataka.