Business Loan - Loan Kumar

About Business Loan

Business Loan is the best way to grow or set up your business. There are many reasons like managing daily operational costs, for purchasing of assets or equipments, business expansion etc. for which the business owners seek for the external funding. All the major banks offer loan up to 1 Crore with and without colletral.This loan amount can be paid in 24 months to 60 months.Business loans are unsecured loans which do not required any collateral while applying for the loan. To get the maximum benefits it is important to have all the information while applying for the loan. Loankumar is a leading Business Loan provider in Delhi-NCR and will help you to get the loan with best interest rates and benefits

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Features

Eligibility

Interest Rate & Charges

Documents Requirements

Features

Competitive interest rates
Flexible repayment schedule
Tenure up to 60 months
No hidden charges
No upfront fee

Eligibility

Age should be between 21-65 years old.
A Good cibil score (personal/professional)is must
A Convincing Business plan
Good Knowledge of Industry
Business should have a age of minimum 3 years
2 Years Audited ITR and P&L Account.

Interest Rate & Charges

Nature of Charges	Details
Processing Fees	Up to 2% (plus applicable tax) of facility amount
Interest Rate	For secured facilities: Up to I-MCLR-6M+4.75% For unsecured facilities (not under CGTMSE cover): Up to I-MCLR-6M + 8.50% For facilities backed by CGTMSE: Up to I-MCLR-6M + 4.0% The interest rate for every loan is determined based on evaluation of business, loan amount, financials and tenure.</p
Stamp Duty and other statutory charges	As per applicable State law The Commission on the Letters of Credit & Bank Guarantee Up to 2.5% p.a. commission will be charged on a pro-rata basis as per the tenure and amount of non-fund based facility being availed
Commitment fees	The average usage of about <50% – 0.50% p.a. on the difference between the actual utilization and average quarterly utilization of 50%. Charges will be imposed on quarterly basis. Applicable mainly for OD/CC facility
Foreclosure Charges	Charged up to 4% of total limits set-up in system, in case facilities are taken over by different bank during the contract of loan. These charges are applicable only in case of Balance Transfer (BT) Working capital facilities pre-paid or the closed ones from own sources will not attract foreclosure charges

Documents Requirements

Identity Proof	Aadhar Card
	PAN Card
	Voter ID
	Driving license
	Passport
Address proof	Aadhar card
	Registered Rent Agreement
	Driving license
	Lease or Passport
Income documents	Salary slips in case of salaried employees
Income documents	Income Tax Return in case of self-employed
Other documents	Loan application form
	Photographs
	Signature ID proofs