Every startup and small-scale business units need sufficient funds to maintain their existence. Business is a pool of fluctuations, so, in many cases, the organization requires immediate financial support. With the emergence of Internet and e-commerce, it is possible to get the Business Loan worth up to INR 75 Lakhs at the low-interest rates starting from 9.65 – 14.20% per annum from Indian Bank. You can execute your small business into the international level with Indian Bank without frustrating through filling the lengthy process of documentation and verification. Well, you need to stay in this blog to know other potentialities of Indian Bank.
Why do you need to select Indian Bank for availing the business loan?
In Indian Bank, you can apply for Business Loan in any ranges of between INR 1-75 Lakhs without giving any collateral, guarantor or safety quickly. Apart from this advantage, the Indian Bank has designed the tremendous support by offering the unique schemes of credit to all women business aspirations that have adequate capabilities to hit the goals. Through the minimal documentation and less EMI options, it is easy to avail the Business Loan within twenty-four hours.
How do the EMI calculator work for borrowers?
Indian Bank EMI calculator is the foremost part for calculating the EMIs along with the interest rates. Once inserted the amount, tenure and interest rate in the calculator, then you can see the overall estimates the Business Loan.
What Eligibility Criteria should you have at Indian Bank?
1. Age of the applicant should be between 18 to 60 years.
2. The applicant should have the good source of financial strength for repaying the Business Loan.
3. You need to have in your Business from at least three years.
What is the Documentation you required to Submit at Indian Bank?
1. Applicant must have the all valid documents like proof of continuity business/ partnership deed (in case of running the partnership firm)/ annual sales turnover/CA audited based balance sheet & a few more.
2. Applicant should have the valid ID like aadhaar card, voter’s ID card, driving license, passport &, etc. proof with having the passport size photographs.
3. Should also have the latest bank statements of at least six months.
4. PAN card in the name of your company or firm. However, the applicant can also submit their PAN card as well.
You can apply for Indian Bank Business Loan through the Rupee Station; where you will experience the hassle-free environment. Rupee Station is the online lending marketplace where allows you to access the details of numerous leading banks and other non-banking financial companies and apply through minimal documentation and other lengthy features. Once the documents were accepted, and other formalities are okay by the end of the applicant, then the loan amount will be disbursed directly in the bank account within two working days.