If you can relate to a situation where you have a business that is in need of funds for expansion or you have a big business order in hand and require funds for some working capital.Then a business loan is the right solution for you.
Many banks these days keep in mind certain aspects which may help them have as many customers possible and they are they give loans up to Rs. 30 Lakhs, the Tenor may range from 12 to 60 months, some may not require any guarantor/security, the banks these days deploy a person giving you convenience of doorstep service, they even offer attractive Rate of Interest, the main issue is to have minimum or hassle free documentation, the banks even give special offer for self employed Doctors, Chartered Accountants, Architects, and Company Secretaries.
There are certain Eligibility Criteria’s which the applicant needs to fulfill and they are: minimum age of applicant should be 22 years and the maximum age of applicant at loan maturity should be 65 years. When you are applying for unsecured business loan then the years in business should be minimum 3 years. Your Minimum Annual Income should be Rs. 1, 00,000 per annum for Metro cities and Rs. 75,000 per annum for other locations.