South Indian Bank Business Loan

South Indian Bank Business Loan is a major private sector bank. It provides unsecured business loan. The loan are offered to the eligible candidates without any collateral security. This loan is an EMI based business loan.The processing fee is charged upto 2% of the sanctioned loan amount.

South Indian Bank Business Loan Interest Rates

Rate of InterestMCLR (1Year) + 4.2%
Loan AmountRs. 5 Lacs to Rs. 100 Lacs
Processing Feeupto 2%
Tenure12 Month to 48 Months

South Indian Bank Business Loan Eligibility

  • The applicant minimum age is 21 years and maximum 65 at the time of loan maturity.
  • The applicant minimum CIBIL Score is 650.
  • Previous loan repayment track must be good.
  • Self-Employed Professionals
  • Self-Employed non-professional.
  • Manufactures, Traders and wholesalers.

Business Loan Features

  • You required minimal documents for loan process.
  • This loan process is totally hassle free.
  • Collateral Free loan.
  • Flexible Tenure
  • Simple Documentation.
  • Attractive Interest Rates
  • Customer Friendly Service

Purpose of Business Loan

Expansion Operation – You can use this loan for increase the daily business operation.

Purchase Equipment – You can buy new tools so that it helps to increase your output.

To Increase Working Capital – They will take short term loans as long as their own assets do not generate enough revenue to meet their operational need.

Improve Credit History – Ensure that individual or proprietors get short term loans and pay them on time to improve their credit history.

Purchase Inventory – Small business requires immediate capital to purchase inventory stock or raw materials.

People Also Look For  Business Loan for Kirana Store

Business Loan Documents Required

KYC Documents

  • Pan Card
  • Passport Size Photo
  • Identity Proof
  • Address Proof

Financial Documents

  • Company Pan Card
  • Last 3 years Audited/Provisional Financials, Balance Sheet & Profit and Loss Account.
  • Annexures and Schedules
  • Latest 6 month bank statement of firm.
  • Memorandum of Association.
  • Articles of Association.
  • Trust Deed.
  • Title Deed.
  • Tax Paid.
  • Professional qualification certificate and degree.
  • For acquisition of existing loan, produce approval order copies and account statement.

Leave a Reply

Your email address will not be published. Required fields are marked *

Personal Loan Interest Rates February 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates February 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%