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Dhan Laxmi Business Loan Interest Rate Jul 2020

Dhan Laxmi Bank Business Loan Interest Rates India

Last Updated 06th Jul 2020

Dhan Laxmi Bank offers Business Loan starting at interest rate of 12.90%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Interest Rate 12.90%
Tenure From 12 months to 60 months
Lowest EMI per lakh ₹ 2,270
Loan Amount Min ₹ 10 Lakh and Max ₹ 5 Cr
Part Prepayment, Charges Allowed after 6 EMI's, 3%
Early Foreclosure, Charges 2 - 5%

Dhan Laxmi Business Loan

Dhan Laxmi Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Dhan Laxmi Bank:

  • You can prepay part of your loan anytime after paying 1 % prepayment charges
  • You can foreclose your entire Business loan anytime after paying 0 EMI's at foreclosure charges - 2 - 5%
  • Dhan Laxmi Bank has over 280 branches in India where you can avail service

Dhan Laxmi Bank Business Loan Interest Rate Calculator

There are multiple factors on which basis 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 amount can be lower resulting in lower EMIs.
  • CIBIL Score: Dhan Laxmi Bank offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from Dhan Laxmi Bank, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: Dhan Laxmi Bank will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 0.
  • Time in Business: Dhan Laxmi Bank offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from Dhan Laxmi Bank is 48 months.

Dhan Laxmi Bank Business Loan Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age: 23 to 65 years
Minimum Turnover ₹ 0
Business Existence (in months) 48 months
ITR (months) 24 months
Loan Amount ₹ 10 Lakh to ₹ 5 Cr
Loan Tenure 60 months
Owned House or Place of Work Required
CIBIL Score 750 and above

Dhan Laxmi Bank Business Loan Eligibility Calculator

Eligibility of Business loan in Dhan Laxmi Bank relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. Dhan Laxmi Bank offers 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, bank gives you loan 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: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. Dhan Laxmi Bank requires profit for minimum 2 years and minimum business turnover of ₹ 0.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Dhan Laxmi Bank requires 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 loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 24 months and bank statement for minimum 12 months will be required by Dhan Laxmi Bank.
  • CIBIL Score: When checking loan eligibility, Dhan Laxmi Bank will look at the complete CIBIL report. Dhan Laxmi Bank will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

Dhan Laxmi Bank Business Loan EMI Calculator

Dhan Laxmi Bank Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by Dhan Laxmi Bank is ₹ 0.01 Lakh per lakh loan amount. EMI of Dhan Laxmi Bank depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 60 months loan from Dhan Laxmi Bank at an interest rate of 12.90% per annum, EMI will be ₹ 0.01 Lakh per Rs. one lakh loan amount. At an interest rate of 16.10% for the same loan, the EMI will be ₹ 0.01 Lakh.
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 12.90% per annum, the EMI on Dhan Laxmi Bank business loan would range from ₹ 0.01 Lakh to ₹ 0.01 Lakh for loan tenure ranging from 12 to 60 months.
  • Amount Borrowed: Dhan Laxmi Bank Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 10 Lakh, the EMI at 12.90% for 60 months would be ₹ 0 Cr. Similarly for amount borrowed ₹ 5 Cr, the EMI at 12.90% for 60 months would be ₹ 0.05 Cr.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of Dhan Laxmi Bank helps you to calculate your monthly EMI at different rate of interest
  • Dhan Laxmi Bank EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

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

Description

  • Business loan for professional purpose by Dhan Lakhami bank is offered to self -employed people like chartered accountants, lawyers, and doctors, amongst others
  • Laon amount can range from Rs 10 lakhs to Rs 5 crore.
  • The loan can be taken to upgrade an existing business or to purchase business equipment.

Who is eligible?

  • Minimum work experience of five years with four years in the current business.
  • This loan can be taken by self-employed professionals.
Loan for Business Expansion

Description

  • 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.
  • This loan is taken by businesses and entrepreneurs to scale up their business.

Who is eligible?

  • You can take business loan for expansion if you have been in the current business for five years with four years in the current venture.
  • This loan can be taken by partnership firms, sole proprietors, private limited companies, or trusts, whether involved in sectors like manufacturing, trading or services.
Loan for New Venture

Description

  • Loan for a new venture can be taken by a businessman to start a new business or expand the existing business.
  • You can take business loan for a new venture to purchase new inventory/equipment or for working capital needs.

Who is eligible?

  • Sole Proprietorship Firms, Partnership Firms, Private and Public Limited Companies engaged in manufacturing, trading and servicing business.
  • The tenure of the loan can range from 12 months to 60 months.
  • Manufactures, Traders and Service Providers are eligible to take the credit for a new business venture.

Other 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 with applicable service tax

Documents required

  • 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

FAQs

Why to take business loan from Dhan Laxmi Bank?

Bank offers loan at 12.90% rate with the lowest EMI of ₹ 1,075 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Dhan Laxmi Bank.

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

Interest rates on Business loan in Dhan Laxmi Bank are very attractive starting from 12.90% to 16.10%. Bank offer various offer for self employed professionals to get loan at 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 ₹ 1,075.

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 echo 60 months.

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

Dhan Laxmi Bank offers you loan if you need a minimum amount of ₹ 10 Lakh to a maximum amount of ₹ 5 Cr.

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

Dhan Laxmi Bank charges a processing fee of with applicable tax.

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

Yes, age is an important eligibility factor to get 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 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%.

Dhan Laxmi Bank Business Loan Customer Care Number, Email, Application Status, Branches
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
Bangalore 1800-425-1747
Bhilai 1800-425-1747
Bhilwara 1800-425-1747
Bhiwadi 1800-425-1747
Bhopal 1800-425-1747
Bhubaneswar Cuttack 1800-425-1747
Bikaner 1800-425-1747
Chandigarh 1800-425-1747
Chennai 1800-425-1747
Cochin 1800-425-1747
Coimbatore 1800-425-1747
Dehradun 1800-425-1747
Delhi 1800-425-1747
Durg 1800-425-1747
Faridabad 1800-425-1747
Gandhinagar 1800-425-1747
Ghaziabad 1800-425-1747
Goa 1800-425-1747
Greater Noida 1800-425-1747
Gurgaon 1800-425-1747
Guwahati 1800-425-1747
Gwalior 1800-425-1747
Hyderabad 1800-425-1747
Indore 1800-425-1747
Jabalpur 1800-425-1747
Jaipur 1800-425-1747
Jalandhar 1800-425-1747
Jodhpur 1800-425-1747
Kanpur 1800-425-1747
Karnal 1800-425-1747
Kolhapur 1800-425-1747
Kolkata 1800-425-1747
Kota 1800-425-1747
Kozhikode 1800-425-1747
Lucknow 1800-425-1747
Ludhiana 1800-425-1747
Madurai 1800-425-1747
Meerut 1800-425-1747
Mehsana 1800-425-1747
Mohali Sas Nagar 1800-425-1747
Mumbai 1800-425-1747
Mussoorie 1800-425-1747
Nagpur 1800-425-1747
Nashik 1800-425-1747
Noida 1800-425-1747
Noida Extn 1800-425-1747
Panipat 1800-425-1747
Patna 1800-425-1747
Pondicherry 1800-425-1747
Pune 1800-425-1747
Raipur 1800-425-1747
Rajkot 1800-425-1747
Ranchi 1800-425-1747
Rohtak 1800-425-1747
Roorkee 1800-425-1747
Salem 1800-425-1747
Shimla 1800-425-1747
Sonipat 1800-425-1747
Surat 1800-425-1747
Trichy 1800-425-1747
Udaipur 1800-425-1747
Vadodara 1800-425-1747
Varanasi 1800-425-1747
Vijaywada 1800-425-1747
Vizag 1800-425-1747

Dhan Laxmi Business Loan News - Jul 2020
  • 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.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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