United Bank Business Loan Interest Rate Apr 2019

United Bank of India Business Loan

United Bank of India 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 United Bank of India:

• 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% of Outstanding Balance
• United Bank of India has over 2,014 branches in India where you can avail service

United Bank of India 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 United Bank of India depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum Rs. 5 Lakh to upto Rs. 50 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
• CIBIL Score: United Bank of India offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from United Bank of India, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
• Revenue: United Bank of India 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 Rs. 0 .
• Time in Business: United Bank of India offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from United Bank of India is 24 months.

United Bank of India 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:	25 to 65 years
Minimum Turnover	Rs. 0
Business Existence (in months)	24 months
ITR (months)	24 months
Loan Amount	Rs. 5 Lakh to Rs. 50 Lakh
Loan Tenure	60 months
Owned House or Place of Work	Not Required
CIBIL Score	750 and above

United Bank of India Business Loan Eligibility Calculator

Eligibility of Business loan in United Bank of India 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. United Bank of India offers loan to those who are at least 25 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 Rs. 5 Lakh to Rs. 50 Lakh. 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. United Bank of India requires profit for minimum 2 years and minimum business turnover of Rs. 0 .
• Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. United Bank of India requires minimum business track record of 24 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 0 months will be required by United Bank of India.
• CIBIL Score: When checking loan eligibility, United Bank of India will look at the complete CIBIL report. United Bank of India 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.

United Bank of India Business Loan EMI Calculator

United Bank of India 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 United Bank of India is Rs. 2,275 per lakh loan amount. EMI of United Bank of India depends on factors like:

• Interest Rate: Higher the interest rate, higher will be the EMI. For a 60 months loan from United Bank of India at an interest rate of 13.00% per annum, EMI will be Rs. 2,275 per Rs. one lakh loan amount. At an interest rate of 13.00% for the same loan, the EMI will be Rs. 2,275 .
• Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 13.00% per annum, the EMI on United Bank of India business loan would range from Rs. 8,932 to Rs. 2,275 for loan tenure ranging from 12 to 60 months.
• Amount Borrowed: United Bank of India Loan EMI will be high if you apply for a high loan amount. For amount borrowed Rs. 5 Lakh, the EMI at 13.00% for 60 months would be Rs. 11,377 . Similarly for amount borrowed Rs. 50 Lakh, the EMI at 13.00% for 60 months would be Rs. 1.14 Lakh.

• Business loan EMI calculator of United Bank of India helps you to calculate your monthly EMI at different rate of interest
• United Bank of India 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

United Bank of India 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:

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. United Bank of India allows prepayment of loan after paying 0 EMI’s with prepayment charges - 2% of Outstanding Balance
• Processing Fee- United Bank of India asks for a processing fee of 1.15% with applicable service tax

• 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

Compare United Bank of India Business Loan with other banks

FAQs on Business Loan United Bank of India

City	Customer Care Number
Agra	1800-345-0345
Ahmedabad	1800-345-0345
Ambala	1800-345-0345
Anand	1800-345-0345
Aurangabad	1800-345-0345
Bangalore	1800-345-0345
Bhilai	1800-345-0345
Bhilwara	1800-345-0345
Bhiwadi	1800-345-0345
Bhopal	1800-345-0345
Bhubaneswar Cuttack	1800-345-0345
Bikaner	1800-345-0345
Chandigarh	1800-345-0345
Chennai	1800-345-0345
Cochin	1800-345-0345
Coimbatore	1800-345-0345
Dehradun	1800-345-0345
Delhi	1800-345-0345
Durg	1800-345-0345
Faridabad	1800-345-0345
Gandhinagar	1800-345-0345
Ghaziabad	1800-345-0345
Goa	1800-345-0345
Greater Noida	1800-345-0345
Gurgaon	1800-345-0345
Guwahati	1800-345-0345
Gwalior	1800-345-0345
Hyderabad	1800-345-0345
Indore	1800-345-0345
Jabalpur	1800-345-0345
Jaipur	1800-345-0345
Jalandhar	1800-345-0345
Jodhpur	1800-345-0345
Kanpur	1800-345-0345
Karnal	1800-345-0345
Kolhapur	1800-345-0345
Kolkata	1800-345-0345
Kota	1800-345-0345
Kozhikode	1800-345-0345
Lucknow	1800-345-0345
Ludhiana	1800-345-0345
Madurai	1800-345-0345
Meerut	1800-345-0345
Mehsana	1800-345-0345
Mohali Sas Nagar	1800-345-0345
Mumbai	1800-345-0345
Mussoorie	1800-345-0345
Nagpur	1800-345-0345
Nashik	1800-345-0345
Noida	1800-345-0345
Noida Extn	1800-345-0345
Panipat	1800-345-0345
Patna	1800-345-0345
Pondicherry	1800-345-0345
Pune	1800-345-0345
Raipur	1800-345-0345
Rajkot	1800-345-0345
Ranchi	1800-345-0345
Rohtak	1800-345-0345
Roorkee	1800-345-0345
Salem	1800-345-0345
Shimla	1800-345-0345
Sonepat	1800-345-0345
Surat	1800-345-0345
Trichy	1800-345-0345
Udaipur	1800-345-0345
Vadodara	1800-345-0345
Varanasi	1800-345-0345
Vijaywada	1800-345-0345
Vizag	1800-345-0345