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Business Loan FAQ

What do banks look in for to give a Business Loan?

Type of Business / Profession
Profit shown in the ITR,

  • Turnover
  • Depreciation
  • Business Vintage
  • Company Profile
  • Qualification
  • Ownership of Residence / Place of Business
  • Type of Accommodation
  • Residence Locality
  • Loan Repayment History.
  • Personal loans to professionals such as Doctors, Chartered Accountants, Engineers, and Architects can be at special rates as offered by the banks at that point of time.

    Rate of Interest Band for various categories of Customers

    Self Employed Professionals 15% to 18%
    Self Employed Non Professionals 17% to 24%

    How much amount dose a bank fund?

    Business Person & Professionals – Rs.1 lacs to Rs. 30 lacs

    How much tenor does a bank give?

    Business Person & Professionals – 1year to 3 years

    Age band for Business Loan.

    Self employed – minimum entry age is 25 years and maximum exit age is 65 years.

    Geo Limits for Business Loan.

    Every bank’s have demarcated their Geo Limits and are comfortable lending in those areas this is mainly due to collection restrictions.

    Points to be considered for Evaluation of various Business Loan offers.

  • Applicable Rate of Interest.
  • Type of Interest [reducing / flat].
  • Tenor.
  • Processing fee.
  • Part payment charges, terms & conditions.
  • Fore Closer charges, terms & conditions.
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