NeoGrowth Business Loan – Eligibility & EMI Calculator

Business Loan

NeoGrowth Credit Pvt. Ltd. is a private finance company that provides a business loan in all major cities of the country. The company extends funds to the online sellers and retailers with EDC/ POS machine. The loans are disbursed for the minimum amount of Rs. 2 lacs and for the period extending from 6 months to 24 months. The customers have the option to repay the loan before the tenure ends. The customer can prepay the loan as and when in a position to without paying any prepayment charges. For more product based information read below :

Neo Growth Business Loan Details

ParticularsDetails
Interest RateCustomized
Loan AmountStarting from Rs. 2,00,000
Tenure6 months – 24 months
Processing FeeNot Specified
Prepayment ChargesNil

How To Apply

The candidate can apply online by filling the online application form available at the official website. Once the application form is submitted the company representatives will visit you to collect the requisite documents. After the evaluation of documents the loan will be disbursed in your account.

Neo Growth Business Loan EMI Calculator

EMI stands for Equated Monthly Installment. It is the convenient monthly amount that the borrower has to pay to settle the loan availed. The EMI consists of both principal and interest amount. This amount can be computed using the EMI calculator, a device designed specifically to help the borrower know his monthly installment amount. It's working is very simple. Just the information regarding the loan amount, tenure and rate of interest is to be filled in the calculator. Then, it will automatically calculate the result. And will reveal the total interest amount charged on the loan alongwith the total repayment amount.

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For Example – An owner of E- Commerce company avails a loan of Rs. 5,00,000 for the period of 2 years at the rate of interest say 16% p.a. then his computed EMI value will be Rs. 24,482.

Table Showing EMI, Total Interest Amount and 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.)
5,00,00016%145365443855,44,385
5,00,00016%224482875575,87,557

Amortization Table

YearPrincipal
(in Rs.)
Interest
(in Rs.)
Balance Amount
(in Rs.)
  
12,30,180636042,69,820
22,70,14223952

Eligibility Criteria

Neo Growth provides business loan to

  • Online Sellers and Retailers with EDC/ POS Machine
  • Having minimum 2 years of business experience
  • Minimum 1 year of credit card/ debit card swipe machine usage
  • Average monthly card sales of over INR 2 lakhs per month

Documents Required

  • VAT certificate of the business
  • Business PAN Card
  • Address Proof (Both Residential and Business) – Passport, Voter's ID Card, Rent Agreement, Aadhar Card
  • VAT certificate of the business

Features & Benefits

  • Completely online procedure
  • Pick-up of documents by company representative
  • Flexible repayment based on your daily sales
  • Amount directly credited to your bank account

Neo Growth Contact Number

For further details and product information contact the executives on 91- 2249219999. The experts are available on all working days during the working hours. So, the customer care service can be availed on any of the working days.

Neogrowth Credit Pvt. Ltd. is located currently in all major cities. The applicant living in the following location can avail the benefit of business loan:

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  • Delhi
  • Ahmedabad
  • Jaipur
  • Mumbai, Maharashtra
  • Chennai
  • Banglore
  • Hyderabad
  • Kolkata
  • Pune
  • Chandigarh