Apply for business loan

  • 15% - 17%

    Interest Rate Range

  • Max 2.5%

    Processing Rate Range

  • 75K - 55 L

    Loan Amount

  • 1 Year - 3 Years

    Tenure Range

General information

Rs
Rs
Rs
Rs
Rs

business information

+91
Code Verified

Current Addrsss details

I have read terms & conditions *

Company Information

Rs
  • Yes
  • No

Documentation

1.  Pan card (individual / firm / company)
  • Pan card (individual / partners / directors )
2. Residence  Address Proof: Any One from the following:
  • Utility Bills / passport copy/Aadhar card / Driving license/ Voter card ( any One )
3. Office Address Proof: Any One from the following:-
  • Property Documents
  • Utility Bills
  • Any  registration of (industrial /firm/company)
4. Office / Residence Ownership Proof (if any): Any One from the following:-
  • Property Documents
  • Electricity Bills
5. Business Existence Proof Any One from the following:
  • Shop Establishment Act
  • Any Tax Registration Copy
  • Company Registration license
  • Company MOA& ROC return
  • Partnership Deed ( if partnership firm )
6. Income Proof:-
  • Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
  • Last 12 months bank statement current / limit.
7. Required Documents for Balance Transfer (Existing Bank):-
  • Foreclosure letter from the bank.
  • Loan statements

Terms & Conditions

  1. Stamp duty at actual as per applicable law.
  2. Interest rate of sub. (subject to change as per terms and conditions /agreement) as per lender (monthly reducing)
  3. Processing charge of the borrower will be according to the lender.
  4. Govt. tax and levy as per applicable government laws would be charge on all fees and charges.
  5. Cheque/SI/ECS return charges (without prejudice to the civil and criminal rights and remedies of the bank for the dishonor)  As per lender
  6. Default interest / late payment charge: as per lender
  7. Legal repossession and incidental charges: At actual
  8. Duplicate amortization/ repayment schedule: as per lender
  9. Cheque /Si/ESI swapping charges: As per lender
  10. Details of security  As per lender
  11. Taxes at actual, applicable presently or in future.
  12. Date on which annual outstanding balance statement will be issued:31st may
  13. Loan cancellation charges:  As per lender Interest would be charged for the interim period between the date of disbursement and date of loan cancellation
  14. Gap interest will be recovered from disbursement amount where the number of the days between account credit date (i.e. of the disbursement amount ) and first EMI date is more that 30/31 days

You're probably eligible for a Loan if you are

  • At Least 23 Years Old

  • Less Than 65 Years Old

  • Minimum Net Annual ITR 1.5 Lakh

  • Must have a 6 month old current account

  • Business must be 2 years old

  • No Collateral required

Get Business Loan for New Business in India - Apply Online

Every business enterprise requires some finance either for its establishment, or expansion, or normal day-to-day operations. Irrespective of the size, there is a necessity of having an adequate amount of funds for the business's smooth functioning. So, owners/entrepreneurs look for financing options which they can avail themselves of at reasonable terms and conditions and fulfill their business requirements. In such cases, a business loan is the best financing option that they can avail of. Many big banks and financial institutions offer business loan at quite attractive terms and conditions to the interested customers. The customers can apply for business loan after considering various necessary factors.  

What is a business loan? 

A business loan is a type of unsecured loan that banks or financial institutions grant to business owners or enterprises so that they can meet the day-to-day business requirements. The borrowers are not supposed to pledge any asset as collateral security as it is an unsecured type. 

The borrower can utilize these funds for purposes like business expansion, purchase of machinery or equipment, purchase of inventory/ raw material and to manage cash flows, etc. This loan has no minimum limit criteria for the borrower; the customer can avail of the loan up to Rs 1 crore with flexible repayment options. 

What are the features or advantages of availing of the business loan? 

The following are some of the interesting features of business loan which are quite beneficial for interested customers: 

  • Collateral free loan- The business loan is a type of unsecured loan, which means that banks or financial institutions offer loans without asking customers to pledge an asset as collateral security. The banks or financial institutions do ask for profit and loss statements, balance sheets, and other essential documents before granting the business loan. 
  • Fixed-rate of interest- The banks or financial institutions charge a fixed rate of interest from their customers for business loans throughout their tenure. The rate usually ranges from 13.50% to 33.50%.
  • Maximum loan amount- The customer can avail of a loan amount of Rs. 1 crore provided they must possess a good credit score for the same.
  • Flexible repayment options- The repayment option under the business loan is flexible and can be customized, which means that the customer can choose its repayment schedule.
  • Meeting business purposes- The customer can use the business loan money to meet the capital requirement of a new business or expand its existing business. The money can be put to use for a new product's introduction, new market avenue, etc. 

Eligibility criteria for the application of business loan- 

The interested customer must fulfill the following criteria to become eligible for the business loan: 

  • He must lie in the age group of 25 to 65 years.
  • The applicant must be a sole proprietor or run a partnership firm, private limited company/ trust/ LLP. He must be in the business of manufacturing, trading, or services.
  • He should be in business for at least 3 years.
  • The business turnover should be at least Rs 1 crore, and the business must generate profit for a minimum of 1 year. 

Required documents for the application of business loan- 

  • Identity proof
  • Address proof
  • Firm constitution i.e., Partnership deed/ MOA/ GST registration certificate
  • Establishment certificate or tax registration, i.e., VAT/GST/Service tax registrations. 

Why should we apply for a business loan online? 

Applying for a business loan online can save a lot of effort, time, and costs. Customers can apply for a business loan through Aapka Bank. The online business loan application has the following benefits: 

  • Easy comparison for rates and terms- While applying for a business loan online, the applicant gets an opportunity to check the terms and conditions, interest rates, and tenure related information of various banks and financial institutions. He can select a lender who is offering business loans at reasonable terms and rates of interest.
  • Accessibility to necessary information- While applying for the loan online, the customer gets to have vital information about a business loan like eligibility and documents required, etc. such information is really helpful for the applying customers.
  • Minimum documentation- In the online application, the customer can apply for a business loan with minimum documentation. The online application involves quick approval and disbursal, which further helps in saving the time, cost, and efforts of the applicant.
  • Easy of tracking the business loan processing- With the online application, the customer gets easy to track all the essentials of a business loan. The customer can track transactions, EMIs due date, and other important details. 

Why choose Aapka Bank for online application of business loan? 

Aapka Bank is a leading financial service provider that offers various financial products of reputed banks and financial institutions to its customers. We at Aapka Bank provide financial services like personal loans, home loans, business loans, and education loans, etc. Our financial services are known for the following good features: 

  • We provide our financial services in real quick time with the assurance of 100% customer satisfaction.
  • We offer the best deals on various financial solutions for reputed banks and financial institutions.
  • We also offer a reasonable rate of interest on our various financial products.
  • Our loan processing includes quick approval and disbursal. 

How to apply for a business loan at Aapka Bank? 

The customer must follow the following steps to apply for a business loan through Aapka Bank: 

  • The interested customer must visit our site Aapka Bank.
  • Select a business loan and fill in the required information.
  • After filling in necessary asked information like loan amount, nature of employment, etc., the customer will be asked to provide details about earlier taken loans and credit card details, etc.
  • Later the applicant has to tap on proceed, and he will have the best business loan offer of various banks or financial institutions.
  • Finally, the customer can select the one that is most considerable to him and proceed with that accordingly. 

The interested applicants who want to avail of the business loan for meeting business requirements must apply the same through Aapka Bank as we are one of the best business loan providers in India.

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