Business Loan in Tamil Nadu

Business Loan in Tamil Nadu

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Get the latest Business Loan interest rates for TamilNadu on BankVallet.com. See how Business Loan compares against other banks and apply instantly online.

Wondering how much you can borrow? We can help you with that. Your loan amount is determined by your Fixed Obligations to Income Ratio (FOIR) or Debt-Service Coverage Ratio (DSCR) or Banking Transactions or Repayment Track Record (RTR) implemented by banks and Financial Institutions. Reach out to us, so you can find out your loan eligibility quickly.

Gone are the days when you’d have to visit banks for your In-Principle Approval. We’ve streamlined the process to make it easier and faster for you to get one. Simply gather the required documents, submit everything to us and wait for approval.

Once you get your IPA, you’re all set for the next step – getting the best business loan in TAMILNADU. With the help of our knowledgeable Business Loan Specialists, you can be confident that you’ll be getting the highest loan amount at the lowest interest rates.

Banking and NBFC finance still remains the mainstay of India’s small and medium enterprises. Business loans help your small business grow, allowing you to invest in infrastructure, operations, and plant and machinery. Moreover, business loans can also be a veritable medium of maintaining Business for critical business operations. Customized business loans are a new category of business loans which are tailored to meet the specific needs of a new age business or startup. These loans offer your enterprise the opportunity to scale and give it the competitive edge necessary for success in today’s world.

Loan Amount

Collateral Free Loan

Quick Approvals in 24 hours*

Flexible Repayment

Balance Transfer Facility

Dropline Overdraft Facility

Door Step service

Banks/NBFCs offers business loan ranging from Rs.3 Lakhs to Rs.75 Lakhs for small, medium and large businesses.

Banks/NBFCs unsecured business loan which means you can fund your business without any collateral/guarantor.

Get quick approval on business loan from many Banks/NBFCs with hassle-free processing to meet immediate financial needs of your growing business.

Many Banks/NBFCs provides business loans with flexible tenures of upto 60 months to make repayment easy.

Transfer your existing business loan to other Banks/NBFCs for lower EMIs, lower Interest and processing fee waiver.

Many Banks/NBFCs provides Overdraft facility without any security. Limit is set in separate Current account which drops monthly till end of the tenure, pay the interest only on the amount utilized. Tenure ranging 12-72 months.

Along with your business, BankVallet also takes care of your convenience. Enjoy our doorstep services by availing our business loan.

Get up to Rs.25000 Gift Vouchers when you apply for your Business Loan through BankVallet!

In an overdraft facility, the business owner can withdraw a larger sum than the amount present in the account as a loan to meet his or her business needs. The maximum amount that can be withdrawn and the interest rate under this facility is based on a mutual agreement between the lender and borrower.

In case of a term loan, a borrower can avail a secured or unsecured loan to receive the funds according to the situation and requirement of the business. These loans are helpful in acquiring long-term assets. There are three types of term loans based on tenure namely short-term loan, long-term loan, and intermediate loan that can be repaid on a monthly or quarterly basis. While the rate of interest for such loans can be fixed or floating, it varies according to the loan repayment tenure.

When an entrepreneur withdraws a demand loan to meet the financial requirements of his or her business, the amount has to be repaid whenever the bank or non-banking financing company (NBFC) recalls it. Demand loans can be both secured and unsecured and are ideal to meet a short-term financial crisis. While the maximum term for this type of a business loan can be 12 months, the merchant can choose to renew it when the term has ended.

At the time of a financial crisis, a business can also decide to opt for a loan against its financial securities that are approved by the bank such as mutual funds, fixed maturity plans, insurance policies, savings bonds, demat shares, exchange-traded funds, etc.

The cash credit facility is an overdraft loan that can be availed by a business to finance its need for working capital by offering its current assets such as receivables, inventory, etc. as collateral. The maximum amount that can be withdrawn using this scheme is dependent on the stock margin fixed by the bank. The tenure of this loan can be renewed at regular intervals of 12 months.

Whether you own a public/private limited company or proprietorship/partnership firm, you can avail this pre-approved secured loan by offering residential, commercial, or industrial property as collateral. This financing scheme helps companies secure down loans, buy the required equipment, or cover any additional costs that will help the organization grow. In this kind of a business loan, the financing company promises to pay the stakeholders of the guaranteed business in case it defaults.

In a bid to promote women empowerment, numerous banks and NBFCs offer special loan schemes to existing and potential women entrepreneurs. These exclusive schemes offer a lot of benefits and special discounts in terms of quantum of loan, interest rate, security, etc. Furthermore, female entrepreneurs can also benefit from the consulting, training, and counseling offered by several lenders to help them learn about various aspects of the market and industry. However, these loans are only available to women who hold more than 50% shares of a company.

The applicant must be (any one):

The applicant can be (any one):

*Requirement of business loan documents might vary according to the scheme chosen. Banks/NBFCs may require additional business loan documents which will be intimated to you while processing your application.

Compare the lowest business loan interest rates starting from 16% p.a. and apply for the best business loan. Get the complete list of current business loan rate of interest in India from all leading banks and financial institutions.

This is a one-time non-refundable fee that is to be paid to the business loan provider after the loan application has been approved. The processing charge varies depending on the bank and the loan scheme you are applying for.

Prepayment penalty is the fee you will have to pay the lender if you plan on repaying your business loan before the completion of the loan tenure.

Foreclosure penalty is the fee you will have to pay the lender if you plan on foreclosing your business loan before the completion of the loan tenure.

The fee is levied when the loan provider find that a cheque issued by the borrower is found to be dishonored due to reasons such as insufficient funds in the borrower’s account.

This is a one-time non-refundable fee that is to be paid to the business loan provider after the loan application has been approved. Some Banks/NBFCs add this charge with the approved loan amount and deducted with EMIs.

Loan providers also charge a penalty on delayed repayments i.e. if you fail to make your Equated Monthly Installments (EMIs) or Pre-EMIs on time. The defaulting charges vary from one bank to another.

This charge covers for the expenses incurred by the bank to recover dues from a borrower who has failed to make his monthly installments on time.

Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.

This charge is applicable for Dropline Overdraft Business Loan. Banks/NBFCs are charged up to 2% of Annual/Additional Maintenance Charges on your sanctioned loan amount.

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At BankVallet, we have simplified the process of obtaining a business loan. You can visit our website and apply for the business loan by submitting your details. We will call you back and notify you if you are eligible. Thereafter, you can submit your documents to our representative who will visit either your home or office as per your convenience. We strive to process the complete application within 48 hours of complete document submission. If you have any questions regarding the business loan application process, please feel free to contact our customer care at 90470 45470 or write to us at wecare@bankvallet.com.

There are a number of factors that are taken into consideration before we approve your application for a business loan. These include:

Banks/NBFCs provide unsecured business loans without any collateral. There is also no need for any co-signee or guarantor either. Lenders provide you with business loans without security so that you can get easy access to credit for your business expansion needs.

Many Banks/NBFCs levy the reducing interest rate on our business loans. You will only need to pay interest on the outstanding principal amount.

You can get a business from a minimum of Rs. 3 lakh to a maximum of Rs. 75 lakh.

All lenders offer flexible tenures so that the EMI is always affordable and serves your needs instead of being a burden. You can choose loan tenure between 12 and 60 months when you take a Business Loan.

Yes, you can avail business loan with short term overdraft facility

An indicative broken period is the time gap between the disbursement of a personal loan and the time when the payment of EMI starts. Banks charge interest on the broken period which is called broken period interest. For example, the EMI of a particular personal loan has to be debited on the 5th of every month. Let’s say the loan has been disbursed on 1st of February, so on the 5th of February, you will have to pay interest of 5 days i.e. 1st to 5th February. The interest which you pay on 5th February does not include on your total outgo of the loan. Your EMI deduction will start from 5th of March onwards. In this way, the payment which you paid on the 5th of February was not considered towards loan repayment.

No, the interest rates offered by lenders vary.

Business loans are given in the name of businesses, and not individual names. There is no impact of closing a business loan early on your CIBIL score.

A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

We will be glad to help you with any questions regarding the Mortgage Loan. Please feel free to call our customer representative at
90470-45470 or email us wecare@bankvallet.com. If you have a more pressing matter to discuss, kindly fix an appointment with our representative at your convenient time/place.

At BankVallet, we give you an overview of the latest Business Loan packages available in the market. With just a few clicks, you’ll be able to compare the best interest rates from our Banks and Financial Partners.

From knowing your loan eligibility to getting your IPA, we’ll fill you in with all the pertinent details regarding Business Loan. Our Business Loan Specialists will help you throughout the process and give you unbiased advice.

Once you have your IPA, we can get started with your Business Loan application. We understand that this is a major life decision and we’re here to guide you. With our help, the Business Loan application process can be completed within 1 working day. Although, some banks and financial institutions may take up to 2 working days to complete.

I am a loan consultant at BankVallet. My team is here to help you make the right business loan choices. Book a call so that we can review your needs.

Leave your Business Loan research to us and we will break it down for you in simple terms. Our Business Loan Specialist will contact you directly so you can save time for other important things in life.

Feeling so spoilt for choice you cannot decide? Settling for the first option is like being forced to marry the first person you come across on a matrimony app. Don’t feel pressured. We compare across all banks in TamilNadu to ensure that you get the best deals.

Our service to you is free. But, of course we are not doing this for charity! All banks pay us a standard referral fee for our services and our awesome job done. We don’t take sides or give biased advice.

I got my business loan of ₹30 Lakhs from IIFL through BankVallet. I called BankVallet staff through one phone call. They directly visited my place and listen carefully about my requirements and they suggest most suitable business loan product which is compete my requirements. I am very impressed with their loan service. Finally I got my unsecured business loan without any headaches and without any delay and also without bank visit.

Good response and professional services! I got my business loan from HDFC Bank. BankVallet staffs helped me a lot to avail my loan in a quick manner. I love their approach and loan services.

I availed my business loan from HDFC Bank through bankvallet. Their services are fully free and transparent. I am very satisfied their services. So that I give 5 star. Now I handover my home loan project to them. I hope they will do well as like this.

Get up to Rs.25000 Gift Vouchers when you apply for your Business Loan through BankVallet! After you apply for a business loan, we will send you an email with detailed instructions how to claim your vouchers.

Here’s how much Gift Vouchers you will be rewarded with: