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Here are a few factors
Location | 85Km from Branch |
CIBIL Score | 680+ |
Processing | Offline |
Applicant Type | Any Self Employed |
Whether Co-Applicant Mandatory | Yes |
Buisness Vintage | minimum 3 years |
Minimum Salary Per Month | Based on Lender's Eligibility Criteria |
Loan Amount and Tenure | 10 Lakhs - 50 Lakhs |
Rate of Interest (Type) | 16%-18% (Reducing) |
Processing Fee | 2% |
Forclosure Charges | 4% |
Part Payment Allowed | No |
TAT | Sanction 5 days , Disburse 7 days |
USP | No Financial Upto 30 Lakhs |
About Federal Bank Business Loan
Federal Bank extends customized finance solutions to the business owners in order to fuel entrepreneurial growth and innovation. Federal Bank helps small and medium enterprises, start-ups, and established businesses through its business loan offerings that offer financial flexibility. Federal Bank offers these loans based on different business purposes - working capitals, expansion plans, upgradation of infrastructure, purchases of equipment, and more.
Federal Bank will be the trusted partner of businesses seeking to uplevel their business by providing them with competitive interest rates, easy application processes, and customer-centric financial planning. Their business loans act as a bridge between ambition and achievement to help focus on what they are best at: building and growing.
Documents Required for Federal Bank Business Loan
Photograph ,Adhaar Card ,>Pan Card
Income Tax Return (Last 1 year)
GST ,1 business Video
Rent Agreement for Rented House
Electricity bill for Own House
FREQUENTLY ASKED QUESTIONS
It varies with the applicant's financial profile, creditworthiness, and business requirements. In general, the bank will consider this profile before fixing the loan limit.
The repayment tenure varies between some months to several years. Again, that depends on the kind of loan and amount. Federal Bank provides flexible repayment options according to the business needs.
The bank offers secured and unsecured business loans. Loan amounts of higher value may require collateral or security, with smaller loans provided without collateral depending on the applicant's creditworthiness.
The required documents usually include identity proof and address proof, financial statements, business registration proof, income tax returns, and bank statements. The complete list may vary on loan amount and type.