# State Bank Of Patiala Business Loan – Interest Rate & Eligibility- 2017

The State Bank Of Patiala provides a business loan to the MSE units to accelerate the business and follow up the proposed business plans hanging due to insufficient funds. The funds can be utilised for various business needs. The loans are available for the maximum amount of Rs.10 crores. The loan is extended for the highest tenure of 15 years and nominal processing fee is charged as per bank's guidelines. The rate of interest ranges from 10.15% p.a. – 16.65% p.a. However, the tenure and rate of interest are not uniform on all schemes provided by the bank. For more information read the article below :

## State Bank Of Patiala Business Loan Details

ParticularsDetails
Interest Rate10.15% p.a. – 16.65% p.a.
Loan AmountUp to Rs. 10,00,00,000
TenureUp to 15 years
Processing FeeAs per bank norms

How To Apply

The eligible candidates can apply for the business loan online or by visiting the nearest bank branch. Or can even call on the customer care number to get the detailed information. Once the application has been filled the bank will carry forward the further procedure.

### State Bank Of Patiala Business Loan EMI Calculator

The reliable way of calculating the EMI is using the EMI calculator. The EMI calculator is a device that makes the calculation of EMI quick and simple. It helps in computing the value of interest payable on the loan taken. To know the EMI value the user must put in the amount of loan, tenure and the rate of interest in the calculator. The EMI calculator computes the installment amount using the formula mentioned below :
E = P.r.  (1 + r)n / (1 + r)n -1

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where,

E = EMI
P = the Principal Loan Amount
r = the rate of interest calculated on a monthly basis
n = the tenor/duration of the loan

For Instance, A doctor wants to open up a clinic but due to lack of funds he decides to avail a loan of Rs. 6,00,00,000 which he will pay off during the tenure of 10 years. His computed EMI amount will range from Rs. 7,97,897 – 10,29,517 at the interest rate ranging between 10.15% p.a. – 16.65% p.a.

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.)
6,00,00,00010.15% - 16.65%152,79,140 - 54,62,32433,49,680 - 54,62,3246,33,49,680 - 6,55,47,890
6,00,00,00010.15% - 16.65%227,72,851 - 29,56,45565,48,433 - 1,09,54,9276,65,48,433 - 7,09,54,927
6,00,00,00010.15% - 16.65%319,40,259 - 21,28,72798,49,340 - 1,66,34,1686,98,49,340 - 7,66,34,168
6,00,00,00010.15% - 16.65%415,26,081 - 17,20,4571,32,51,881 - 2,25,81,9357,32,51,881 - 8,25,81,935
6,00,00,00010.15% - 16.65%512,79,256 - 14,79,8861,67,55,334 - 2,87,93,1757,67,55,334 - 8,87,93,175
6,00,00,00010.15% - 16.65%611,16,094 - 13,23,0772,03,58,780 - 3,52,61,5578,03,58,780 - 9,52,61,557
6,00,00,00010.15% - 16.65%710,00,727 - 12,14,0432,40,61,108 - 4,19,79,5878,40,61,108 - 10,19,79,587
6,00,00,00010.15% - 16.65%89,15,219 - 11,34,7792,78,61,025 - 4,89,38,7418,78,61,025 - 10,89,38,741
6,00,00,00010.15% - 16.65%98,49,602 - 10,75,2743,17,57,063 - 5,61,29,6099,17,57,063 - 11,61,29,609
6,00,00,00010.15% - 16.65%107,97,897 - 10,29,5173,57,47,592 - 6,35,42,0469,57,47,592 - 12,35,42,046

Amortization Table

YearPrincipal
(in Rs.)
Interest
(in Rs.)
Balance Amount
(in Rs.)
125,53,233 - 36,51,53559,23,229 – 98,00,9715,63,48,465 – 5,74,46,767
230,12,337 - 40,39,90655,34,858 – 93,41,8675,23,08,559 – 5,44,34,430
335,53,990 - 44,69,57951,05,185 – 88,00,2144,78,38,980 – 5,08,80,440
441,93,043 - 49,44,95446,29,810 – 81,61,1614,28,94,026 – 4,66,87,397
549,47,004 - 54,70,88641,03,878 – 74,07,2003,74,23,140 – 4,17,40,393
658,36,537 - 60,52,75735,22,007 – 65,17,6673,13,70,383 – 3,59,03,856
766,96,513 – 68,86,01928,78,251 – 54,68,1852,46,73,870 – 2,90,17,837
874,08,738 – 81,24,21321,66,026 – 42,29,9911,72,65,132 – 2,08,93,624
981,96,712 – 95,85,04713,78,052 – 27,69,15790,68,420 – 1,13,08,577
1090,75,112 – 1,13,22,6665,06,269 - 10,45,649

Business Loan Schemes, Eligibility, Quantum of Loan and Tenure

Collateral Free LoansNew and existing Micro and Small Enterprises engaged in Manufacturing and Service sectorUp to Rs. 1 crore7 years
Doctor PlusAvailable for qualified medical practitioners belonging to all medical streams viz. Allopathy, Homeopathy, Ayurvedic, Dental & Physiotherapist etc.Up to Rs. 10 crores5 years – 15 years
SBP Easy LoanMicro &Small enterprises (both manufacturing as well as services ) including small business, retail traders, professionals/ self employed persons and small road & water transport operatorsUp to Rs. 5 crores7 years
Business CorrespondentBusiness Correspondents (BCs) and Kiosk Operators who have valid agreement with service providers engaged by SBPFrom Rs. 25,000 – Rs. 2.50 lacs-
SBP Shoppe SchemeIndividuals /firms / partnerships / trusts / franchiseesUp to Rs. 1 crore3 years – 7 years

Documents Required

Following is the list of requisite documents required at the time of loan application:

• PAN Card
• Identity Proof
• Residence/Office ownership proof
• Passport Size Photographs of all applicants and co-applicants

### State Bank Of Patiala Business Loan Features

• Hassle free processing
• Quick approval and minimum formalities
• Collateral free loan up to Rs. 1 crore
• Reasonable rate of interest

### Factors Affecting Business Loan Eligibility

The eligibility of the applicant is judged on the basis of following factors

• Past Repayment Record
• Credit Performance
• Repayment Capacity of the customer