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Dhan Laxmi Business Loan Jul 2021

Dhan Laxmi Business Loan Interest Rates India

Last Updated 30th Jun 2021

Dhan Laxmi Bank offers Business Loan starting at interest rate of 10.50%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Interest Rate 10.50%
Processing Fee Upto 3% of the loan amount
Tenure From 12 months to 60 months
Lowest EMI per lakh ₹ 2,149
Loan Amount Min ₹ 10 Lakh and Max ₹ 5 Cr
Part Payment Facility Allowed after 6 EMI's, 3%
Foreclosure Facility 2 - 5%
Apply for Business Loan @ 14.00%*

Dhan Laxmi Business Loan Details

Dhan Laxmi Bank offers multiple business loan products for self-employed professionals and non-professionals at low rates. Below-mentioned are the details of the business loan Dhan Laxmi Bank.

Key Features of Dhan Laxmi Business Loans
  • Purpose of Loan: You can avail Dhan Laxmi business loan to expand or modernise your business, purchase assets, set up new units etc.
  • Loan available for self employed professionals and non-professionals.
  • Borrowers within the age group of 23 and 65 years can avail Dhan Laxmi business loan.
  • Security: Both Secured & Unsecured
  • Loan Tenure can range from 12 to 60 years.
  • Dhan Laxmi business loan interest rates are in the range of 10.50% to 13.10 %.
  • Dhan Laxmi Bank business loan EMI per lakh starts from ₹ 2,149.
  • Processing Fee: Upto 3% of the loan amount
  • Special schemes: Some of the special business loan offers of Dhan Laxmi are:

Factors affecting Dhan Laxmi Business Loan Rates

There are multiple factors on which Dhan Laxmi Bank calculates your interest rate. Some of these factors are -

Loan amount

Business loan rate in Dhan Laxmi Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 10 Lakh to upto ₹ 5 Cr. Interest rate for high loan amounts can be lower resulting in lower EMIs.

CIBIL Score

Dhan Laxmi Bank offers business loans at higher interest rate if your CIBIL score is low or vice versa. However, to get a loan from Dhan Laxmi Bank, your CIBIL score should be at least 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.

Revenue

Dhan Laxmi Bank will offer you a loan at a lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least

Time in Business

Dhan Laxmi Bank offers loans at lower rates if you have significant business experience. Minimum business existence to get a business loan from Dhan Laxmi Bank is 48 months.

Lowest Dhan Laxmi Bank Business Loan Interest Rates

With effect from 30 Jun, 2021, Dhan Laxmi Bank offers business loans starting at 10.50%. The lowest business loan rates offered by Dhan Laxmi Bank have been dropped by 2.4%, from the earlier rate of 12.90%.

Dhan Laxmi Bank Business Loan Rate Trends of Last 1 Year

Last Updated Date Interest Rates
30 Jun, 2021 10.50%
02 Jun, 2021 12.90%
31 Mar, 2021 12.90%
25 Mar, 2021 12.90%
07 Jan, 2021 12.90%

Dhan Laxmi Business Loan Eligibility Criteria

To avail Dhan Laxmi Bank business loan, you need to fulfill the eligibility criteria as mentioned below:

  • Age : Dhan Laxmi Bank offers business loan to those who are at least 23 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount : Based on the loan amount eligibility, Dhan Laxmi Bank gives you loan amount ranging from ₹ 10 Lakh to ₹ 5 Cr. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue : Dhan Laxmi Bank requires profit for minimum 2 years and minimum business turnover of ₹ 0.
  • Business Stability : Dhan Laxmi Bank requires a minimum business track record of 48 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get a loan.
  • ITR and Banking : Dhan Laxmi Bank gives loan only after checking your income tax return and bank statements. The bank requires you to submit your ITR details and bank statements for a minimum of 24 months & 12 months respectively.
  • CIBIL Score : Dhan Laxmi Bank will check your repayment history for all current and past loans and credit cards. The Bank advises you to maintain a score of 750 and above to get loan approval.

Dhan Laxmi Bank Business Loan Products

Dhan Laxmi Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Business Loan for Professional Purpose
  • Business loan for professional purpose by Dhan Lakhami bank is offered to self -employed people like chartered accountants, lawyers, and doctors, amongst others. Loan amount ranges from Rs 10 lakhs to Rs 5 crores.
Loan for Business Expansion
  • Loan for business expansion can be taken by self-employed and individuals in a partnership or in a company to expand or scale up business operations.
Loan for New Venture
  • Loan for a new venture can be taken by a businessman to start a new business or expand the existing business.

Dhan Laxmi Bank Business Loan Fees and Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges : These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Dhan Laxmi Bank allows prepayment of loan after paying 0 EMI’s with prepayment charges - 2 - 5%
  • Processing Fee : Dhan Laxmi Bank asks for a processing fee of Upto 3% of the loan amount with applicable service tax

Documents Required for Dhan Laxmi Business Loan

To apply for Dhan Laxmi business loan, you need to submit the following documents:

  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

Dhan Laxmi Business Loan Eligibility Calculator

You can calculate your eligibility for Dhan Laxmi Bank business loan using an online Dhan Laxmi business loan eligibility calculator. It is an online tool that gives you an estimate about your loan eligibility, amount of loan and the best interest rate offer you can avail. It calculates the business loan eligibility on multiple factors. These factors include age, loan amount, loan tenure and Income etc. to calculate the loan amount eligibility of its borrowers.

How to Apply Dhan Laxmi Bank Business Loan Online at MyLoanCare?

  • In order to get the best offers on a business loan and compare Dhan Laxmi business loans with other banks, you can apply online through MyLoanCare here.  
  • MyLoanCare will give you a detailed comparison of business loan schemes of all banks, calculate your business loan eligibility and connect you to the customer representatives of the  Dhan Laxmi Bank.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

FAQs

Why to take business loan from Dhan Laxmi Bank?

Dhan Laxmi Bank is one of the largest Private Bank sector banks in the country that provides lowest business loans starting at 10.50%. The bank also charges a low processing fee starting from Upto 3% of the loan amount. Along with that, the bank also offers special business loan schemes such as Business Loan for Professional Purpose, Loan for Business Expansion & Loan for New Venture etc.

Has Dhan Laxmi Bank reduced the business loan interest rate?

Dhan Laxmi Bankhas reduced the lowest interest on business loan as effective from 30 Jun, 2021. Presently, Dhan Laxmi Bank offers the business loan starting at 10.50%, which is a decrease of 2.4% from the previous rates of 10.50%. Earlier, Dhan Laxmi Bank changed its gold loan rate on 02 06, 2021.

What is the interest charged on Dhan Laxmi Bank business loan?

Dhan Laxmi Bank offers business loans at attractive rates ranging from 10.50% to 13.10%.The bank also provides various customised offers for self employed professionals to get loan at a very low rate of interest.

What is the lowest EMI per lakh on business loan from Dhan Laxmi Bank?

If you apply for loan from Dhan Laxmi Bank, your lowest EMI per lakh will be ₹ 2,149.You can calculate your EMI on business loan for different tenures at min business rate starting at 10.50% using MyLoanCare business loan EMI calculator.

What is the minimum and maximum tenure of business loan in Dhan Laxmi Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 60 months.

How much business loan amount I can borrow from Dhan Laxmi Bank?

Dhan Laxmi Bank offers you business loan for loan amount ranging from ₹ 10 Lakh to a maximum amount of ₹ 5 Cr. Loan amount eligibility in Dhan Laxmi further depends upon your income, and repayment capability.

What is the processing fee charged by Dhan Laxmi Bank on business loan?

Dhan Laxmi Bank charges a processing fee Upto 3% of the loan amount with applicable tax.The processing can be negotiated if you are an existing customer or have a good track record.

Is age an eligibility factor to get loan for business from Dhan Laxmi Bank?

Yes, age is an important eligibility factor to get a business loan as you should be at least 23 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from Dhan Laxmi Bank?

Bank charges a prepayment fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Dhan Laxmi Bank is 2 - 5%.

What are the business products offered by Dhan Laxmi Bank?

Dhan Laxmi Bank offers various business products for self-employed professionals and non-professionals. These are listed below:

  • Business Loan for Professional Purpose
  • Loan for Business Expansion
  • Loan for New Venture
  • Loan for New Venture

What is the time period of repayment of business loans in Dhan Laxmi Bank?

Dhan Laxmi Bank provides business loans for a maximum tenure of 60 years. You must repay your loan at the end of this loan tenure to avoid any late payment penalty.

Dhan Laxmi Bank Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 1800-425-1747
Ahmedabad 1800-425-1747
Ambala 1800-425-1747
Anand 1800-425-1747
Aurangabad Bihar 1800-425-1747

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Dhan Laxmi Business Loan News - Jul 2021
  • 2021-06-01 : Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4
    Dhanlaxmi Bank reported a net profit of Rs 5.28 crore in the fourth quarter of FY2020-21, boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.
  • 2020-08-03 : Dhanlaxmi Bank Ltd Q1FY21 net profit at Rs. 6.09 crore
    Dhan Laxmi posted a net profit of Rs.6.09 crores for the period ended June 30, 2020, as against a net profit of Rs.2.60 crores for the period ended March 31, 2020. In addition to this, The bank reported a total income bolstered by retail loans home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.278.62 crores during the period ended June 30, 2020. Bank provisioning for bad loans and contingencies spiked to Rs 37.02 crore during the reported quarter of FY21 as against Rs 9.27 crore a year ago.
  • 2019-05-09 : Dhanlaxmi Bank reports a profit of Rs. 27.6 crores in Q4 of FY19
    Private sector lender, Dhanlaxmi Bank has reported strong growth of Rs. 27.6 crores in its net profit for the Q4 of FY19. The profit is boosted by strong growth across its retail loans segment including home loans and mortgage loans and SME loans.
  • 2019-01-30 : Dhanlaxmi Bank to focus more on gold loans, business loans and MSMEs this year
    One of the private sector lenders, Dhanlaxmi Bank intends to improve business by concentrating on its retail growth both in assets and liabilities. The main focus of the lender will be on gold loans, retail loans, business loans and MSMEs. Additionally, the bank has witnessed strong growth in its the micro-finance sector and have come out with specific products to facilitate women customers in the coming years.
  • 2017-08-25 : DHFL Pramerica Life Insurance ties up with Dhanlaxmi Bank
    DHFL Pramerica Life Insurance Company Limited (DPLI) has announced its tie up with Dhanlaxmi Bank for distribution of its portfolio of retail and group life insurance products. Under the arrangement, the bank will act as a corporate agent of the insurance company and will assist in making life insurance products more accessible to its customers. Going forward, the bank has further plans to achieve strong growth in its business loan segment in FY18.
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