gives the facility of business loan to the people who need finance to expand their business. There are some benefits of taking business loan from :
You can prepay part of your loan anytime after paying % prepayment charges
You can foreclose your entire Business loan anytime after paying the forclosure charges
business loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Business loan interest rates offered by are fixed as well as floating
Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in benchmark rate and should be chosen only if you believe that the rates will not hike in future
In contrast to this are floating rates which changes with a single change in benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Business Loan Interest Rate depends upon
business loan amount: Business loan rate in depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
CIBIL Score: offers business loan at higher interest rate if your CIBIL score is poor or vice versa
Monthly Revenue: will avail you business loan at lower interest rate if you have higher monthly revenue
Time in Business: offers business loan at lower rates if you are doing business since long time
Business Loan Charges
Business Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. allows prepayment of business loan after paying EMI’s with prepayment charges
Business Loan EMI Calculator
Business Loan EMI is a fixed amount that you pay each month towards the repayment of your business loan till the end of tenure. Lowest EMI offered by is 0 per lakh loan amount. business loan EMI depends on factors like:
Interest Rate: Higher the interest rate, higher will be the EMI. For a months business loan from at interest rate of % per annum, EMI will be Rs. 0 per Rs. one lakh loan amount.
Loan tenure: Longer the loan tenure, lesser your monthly EMI. At interest rate of % per annum, the EMI on business loan would range from Rs. 0 to Rs. 0 for loan tenure ranging from to months
Amount Borrowed: business loan EMI will be high if you apply for a high loan amount. For amount borrowed 0, the EMI at % for months would be 0.
What are the benefits of calculating business loan EMI?
EMI calculator of Business loan helps you to calculate your monthly EMI at different rate of interest
Business loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Business Loan Customer Care Number, Email, Application Status
Contact Details of Business Loan Branches
Customer Care Number
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at firstname.lastname@example.org to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
08th Oct 16 Small Scale Industries - RBL Bank, NeoGrowth and OPIC sign pact to finance SME in India
RBL Bank, Neo Growth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the U.S. Government development finance institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank loan will allow Neo Growth to provide loans ranging from Rs. 200,000 to 7,500,000 to the retail SMEs.
04th Oct 16 Axis Bank sells Rs 1000 cr of Essar Steel debt to Edelweiss ARC
Axis Bank sold its loans to Essar Steel worth Rs. 1000cr to Edelweiss Asset Reconstruction Company at the discount of 45 per cent. Axis becomes the forth bank after HDFC( 550cr), ICICI( 1,600cr) and Federal bank( 70cr) to sell its loans to Essar steels raising the total amount of funds to Rs. 2,220 cr.
18th Sep 16 Haryana to give startups collateral-free loan up to Rs 1cr: CM Manohar Lal Khattar
On the occasion of Haryana golden jubilee year the Chief Minister has set up a Rs 1,000 crore corpus for the industry sector, particularly MSME sector. Under the provision for start ups collateral free loans up to Rs 1 crore will be given to entrepreneurs. In the scenario where the cost of capital is 16 percent, the startup fund is a welcome move.
17th Sep 16 SBI eyes 12 per cent SME loan growth in FY17
State Bank of India (SBI) is targeting12 percent growth in SME loans in the current financial year. This target is set in line with a massive growth of SME sector and muted demand for corporate loans. The bank is switching from balance sheet-based financing for SMEs to cash flow-based financing.
04th Sep 16 PNB current a/c holders to pay more for not having minimum balance - 04 Sept
Punjab National Bank will charge fine from October on current general account and PNB Smart Banking current account holders for not upholding the quarterly average balance as per the revised tariff. The charges for PNB Smart Banking silver account holders (QAB - Rs 1 lakh) hiked to Rs 500 per quarter. For gold account holders (QAB - Rs 2 lakh), the charges increased to Rs 1,000 and diamond account holders (QAB - Rs 5 lakh) will have to pay Rs 2,000 if their balance fall below Rs 5 lakh. Platinum account holders will have to pay Rs 4,000 if they fail to maintain Rs 10 lakh balance per quarter. For current general accounts, the bank has raised the initial deposit requirement as well as QAB for rural, semi urban and urban sectors.