Vijaya Bank Business Loan

Business Loan 2045 views

Business Loan

Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility

    Almost done, few more details required.


     

    The Vijaya Bank extends it’s service in the domain of business loans. The bank has introduced the business loan to aid the flourishing business units in expanding their business. Under the cover of business loan, the applicant can avail the loan up to the maximum limit of Rs. 5 crores. The bank has categorised the loan for the traders and MSMEs so that the applicant can avail the maximum benefit as per his needs.

    Vijaya Bank Business Loan Details

    ParticularsDetails
    Interest Rates10.20% p.a – 13.70% p.a
    Loan AmountUp to Rs. 5,00,00,000
    Minimum Tenure1 year
    Maximum Tenure10 years

    How To Apply

    The interested candidate can apply for Vijaya Bank Business Loan by visiting the nearest branch office. The loan application is accepted at all the bank branches. The bank executives will provide the necessary insight and assist in accomplishing the process.

    Must Read  Aditya Birla Finance Business Loan

    Vijaya Bank Business Loan EMI Calculator

    EMI is the amount the borrower has to pay to the lender to pay off his debt. This amount includes the portion of principal value and the interest amount. This amount can be computed easily via EMI calculator. The calculator helps the borrower to know the exact EMI amount he has to pay each month. It works on a simple principle. On entering the loan amount, tenure and the rate of interest, the calculator reveals the result. The result displayed is accurate and can help you plan your monthly budget.

    For example, a borrower takes a loan of Rs. 5,00,00,000 at the rate of interest ranging from 10.20% p.a – 13.70% p.a. He decides to pay off his debt during the tenor of 10 years. He has to pay Rs. 6,66,304 – Rs. 7,67,339 per month for the period of 120 months to repay the loan.

    Table Showing EMI, Total Interest Amount, Total Repayment Amount

    Loan AmountRate Of Interest (p.a.)TenorEMITotal Interest AmountTotal Amount (Principal + Interest)
    Rs. 5,00,00,00010.20% – 13.70% 1 yearRs. 44,00,447 - Rs. 44,82,301 Rs. 28,05,360 - Rs. 37,87,614Rs. 5,28,05,360 - Rs. 5,37,87,614
    Rs. 5,00,00,00010.20% – 13.70% 2 yearsRs. 23,11,865 - Rs. 23,93,564Rs. 54,84,749 - Rs. 74,45,537Rs. 5,54,84,749 - Rs. 5,74,45,537
    Rs. 5,00,00,00010.20% – 13.70% 3 yearsRs. 16,18,058 - Rs. 17,01,605Rs. 82,50,102 - Rs. 1,12,57,786Rs. 5,82,50,102 - Rs. 1,12,57,786
    Rs. 5,00,00,00010.20% – 13.70% 4 yearsRs. 12,72,937 - Rs. 13,58,811Rs. 1,11,00,976 - Rs. 1,52,22,941Rs. 6,11,00,976 - Rs. 6,52,22,941
    Rs. 5,00,00,00010.20% – 13.70% 5 yearsRs. 10,67,279 - Rs. 11,55,651Rs. 1,40,36,760 - Rs. 1,93,39,037Rs. 6,40,36,760 - Rs. 6,93,39,037
    Rs. 5,00,00,00010.20% – 13.70% 6 yearsRs. 9,31,343 - Rs. 10,22,272Rs. 1,70,56,670 - Rs. 2,36,03,596Rs. 6,70,56,670 - Rs. 7,36,03,596
    Rs. 5,00,00,00010.20% – 13.70% 7 yearsRs. 8,35,235 - Rs. 9,28,734Rs. 2,01,59,765 - Rs. 2,80,13,650Rs. 7,01,59,765 - Rs. 7,80,13,650
    Rs. 5,00,00,00010.20% – 13.70% 8 yearsRs. 7,64,010 - Rs. 8,60,060Rs. 2,33,44,945 - Rs. 3,25,65,784Rs. 7,33,44,945 - Rs. 8,25,65,784
    Rs. 5,00,00,00010.20% – 13.70% 9 yearsRs. 7,09,361 - Rs. 8,07,928Rs. 2,66,10,964 - Rs. 3,72,56,177Rs. 7,66,10,964 - Rs. 8,72,56,177
    Rs. 5,00,00,00010.20% – 13.70% 10 yearsRs. 6,66,304 - Rs. 7,67,339Rs. 2,99,56,438 - Rs. 4,20,80,642Rs. 7,99,56,438 - Rs. 9,20,80,642
    Must Read  HDB Business Loan

    Amortization Table

    YearPrincipal PaymentInterest OutgoBalance Amount
    1Rs. 2,511,917 - Rs. 3,034,930Rs. 4,960,718- Rs. 6,696,151Rs. 46,965,070- Rs. 47,488,083
    2Rs. 2,878,499 - Rs. 3,359,382Rs. 4,636,266- Rs. 6,329,569Rs. 43,605,688- Rs. 44,609,584
    3Rs. 3,298,586 - Rs. 3,718,522Rs. 4,277,126- Rs. 5,909,482Rs. 39,887,166- Rs. 41,310,998
    4Rs. 3,779,977 - Rs. 4,116,053Rs. 3,879,595- Rs. 5,428,091Rs. 35,771,113- Rs. 37,531,021
    5Rs. 4,331,619 - Rs. 4,556,088Rs. 3,439,560- Rs. 4,876,449Rs. 31,215,025- Rs. 33,199,402
    6Rs. 4,963,769 - Rs. 5,043,160Rs. 2,952,488- Rs. 4,244,299Rs. 26,171,865- Rs. 28,235,633
    7Rs. 5,582,307 - Rs. 5,688,173Rs. 2,413,341- Rs. 3,519,895Rs. 20,589,558- Rs. 22,547,460
    8Rs. 6,179,091 - Rs. 6,518,295Rs. 1,816,557- Rs. 2,689,773Rs. 14,410,467- Rs. 16,029,165
    9Rs. 6,839,672 - Rs. 7,469,566Rs. 1,155,976- Rs. 1,738,502Rs. 7,570,795- Rs. 8,559,599
    10Rs. 7,576,410 - Rs. 8,568,260Rs. 424,771- Rs. 648,404Rs. 0

    Features and Benefits

    • Loan available for the maximum amount of Rs. 5 Crores
    • Tenure lasting up to 120 months
    • Attractive rate of interest
    • Less paperwork

    Vijaya Bank Business Loan Eligibility Criteria:

    The candidates belonging to following categories are eligible to apply for Vijaya Bank Business Loan –

    • Applicants having either sales tax registration or trade/ business license/ permit
    • The traders engaged in buying and selling of goods either as retailers or wholesalers
    • The Micro, Small and Medium Entreprises [MSMEs]

    Vijaya Bank Business Loan Application Form

    To avail the business loan from Vijaya Bank you are required to submit the duly filled application form. The forms are available at all the branches. Visit the closest branch and submit the form along with the requisite documents.

    Must Read  Andhra Bank Business Loan

    Documents Required

    The documents that are to be presented at the time of application are as followed:

    • Application form with a recent photograph
    • Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
    • Address Proof (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
    • Age proof (PAN Card, Passport, any other certificate from a statutory authority)
    • Proof of business existence
    • Bank Statements (Bank statement / Bank Passbook for last 6 months)
    • Profit and loss statement for last 3 years
    • Balance sheet for last 3 years
    • Income Tax Returns for last 3 years (for self and business) duly certified by a CA

    Vijaya Bank Customer Care

    For more details regarding the product contact the customer care helpline. You can call on the toll- free number 1800 425 5885 and get the answer to all your queries and doubts. Or you can visit the nearest branch. There the bank representative will impart all required information.