|Allahabad Bank||8.45% to 15.40%||Maximum 7 years||Explore|
|Andhra Bank||Please contact bank branch||Maximum 7 years||Explore|
|Bank Of Baroda||9.50% to 11.50%||Maximum 15 Years||Explore|
|Bank Of India||10.20% to 12.95%||Maximum 5 years||Explore|
|Bank Of Maharashtra||Please contact bank branch||Maximum 10 Years||Explore|
|Canara Bank||9.85% to 10.60%||Maximum 10 Years||Explore|
|Canara Bank||9.85% to 10.60%||Maximum 10 Years||Explore|
|Central Bank Of India||13.25%||Maximum 5 years||Explore|
|Corporation Bank||10.10% to 11.60%||Maximum 7 years||Explore|
|Dena Bank||Please contact bank branch||Maximum 5 years||Explore|
|Idbi Bank||13% to 15%||Maximum 5 years||Explore|
|Indian Bank||Please contact bank branch||Maximum 5 years||Explore|
|Indian Overseas Bank||11.20% to 12.20%||Maximum 5 years||Explore|
|Oriental Bank Of Commerce||Please contact bank branch||Maximum 7 years||Explore|
|Punjab And Sind Bank||10.65% to 10.90%||Maximum 5 years||Explore|
|Punjab National Bank||12.60% to 15.60%||Maximum 7 years||Explore|
|State Bank Of India||11% to 16.65%||Maximum 5 years||Explore|
|Syndicate Bank||8.95% to 12.45%||Maximum 10 Years||Explore|
|Uco Bank||10.70% to 13.20%||Maximum 5 years||Explore|
|Union Bank Of India||10.10% to 13.85%||Maximum 5 years||Explore|
|United Bank Of India||13.15%||Maximum 5 years||Explore|
|Vijaya Bank||11.25%||Maximum 10 Years||Explore|
|Axis Bank||14.25% to 20.00%||Max. 3 Years||Explore|
|Bandhan Bank Limited||12.55% to 16%||Max. 7 Years||Explore|
|City Union Bank Limited||12.50% to 13.50%||Max. 5 Years||Explore|
|Dcb Bank Limited||Please contact bank branch.||Max. 15 Years||Explore|
|Dhanalakshmi Bank||11.43% to 13.90%||Max. 5 Years||Explore|
|Federal Bank||12.10% to 13.60%||Max. 10 Years||Explore|
|Hdfc Bank||15.50% to 18.30%||Max. 4 Years||Explore|
|Icici Bank Limited||Please contact bank branch.||Max. 7 Years||Explore|
|Idfc Bank Limited||Please contact bank branch.||Max. 5 Years||Explore|
|Indusind Bank||12% to 23%||Max. 5 Years||Explore|
|Jammu And Kashmir Bank Limited||12.05% to 12.55%||Max. 10 Years||Explore|
|Karnataka Bank Limited||12% to 13%||Max. 5 Years||Explore|
|Karur Vysya Bank||11.85%||Max. 7 Years||Explore|
|Kotak Mahindra Bank Limited||17% to 18%||Min. 3 Years||Explore|
|Laxmi Vilas Bank||9.90% to 10.15%||Max. 3 Years||Explore|
|Rbl Bank Limited||10.65% to 16.25%||Max. 3 Years||Explore|
|South Indian Bank||10.60% to 12.10%||Contact Bank Branch||Explore|
|Tamilnad Mercantile Bank Limited||9.65% to 12.20%||Contact Bank Branch||Explore|
|The Nainital Bank Limited||Please contact bank branch.||Contact Bank Branch||Explore|
|Yes Bank||Please contact bank branch.||Contact Bank Branch||Explore|
|Assam Gramin Vikash Bank||13.45%||Maximum 5 years||Explore|
|Bangiya Gramin Vikash Bank||9.75% - 11.50%||Maximum 5 years||Explore|
|Baroda Gujarat Gramin Bank||10.10% - 11.10%||Maximum 5 years||Explore|
|Baroda Rajasthan Kshetriya Gramin Bank||11% - 11.50%||Maximum 7 years||Explore|
|Bihar Gramin Bank||11.20% - 12.20%||Maximum 5 years||Explore|
|Chhattisgarh Rajya Gramin Bank||11.75% - 12.00%||Maximum 1 year||Explore|
|Dena Gujarat Gramin Bank||12.00% - 13.00%||Maximum 5 years||Explore|
|Jammu And Kashmir Grameen Bank||12.00% - 12.50%||Maximum 5 years||Explore|
|Jharkhand Gramin Bank||13.50% - 14.50%||Maximum 7 years||Explore|
|Karnataka Vikas Grameena Bank||11.50% - 12.00%||Maximum 5 years||Explore|
|Kashi Gomti Samyut Gramin Bank||10.00% - 12.75%||Maximum 5 years||Explore|
|Kaveri Grameena Bank||12.00% - 14.00%||Maximum 5 years||Explore|
|Kerala Gramin Bank||10.50% - 11.50%||Maximum 5 years||Explore|
|Madhya Bihar Gramin Bank||12.00%||Maximum 5 years||Explore|
|Madhyanchal Gramin Bank||13.00% - 13.50%||Maximum 5 years||Explore|
|Manipur Rural Bank||13.00% - 15.00%||Maximum 5 years||Explore|
|Meghalaya Rural Bank||11.00% - 13.50%||Maximum 7 years||Explore|
|Mizoram Rural Bank||13.00% - 13.75%||Maximum 5 years||Explore|
|Narmada Jhabua Gramin Bank||9.70% - 14.50%||Maximum 5 years||Explore|
|Paschim Banga Gramin Bank||12.70% - 14.20%||Maximum 5 years||Explore|
|Prathama Bank||11.00% - 12.50%||Maximum 5 years||Explore|
|Punjab Gramin Bank||11.50% - 12.00%||Maximum 5 years||Explore|
|Rajasthan Marudhara Gramin Bank||11.50%||Maximum 5 years||Explore|
|Sarva Haryana Gramin Bank||11.50% - 12.00%||Maximum 5 years||Explore|
|Saurashtra Gramin Bank||13.25%||Maximum 5 years||Explore|
|Sutlej Kshetriya Gramin Bank||10.50% - 11.00%||Maximum 5 years||Explore|
|Telangana Grameena Bank||12.50%||Maximum 5 years||Explore|
|Utkal Grameen Bank||13.50% - 14.50%||Maximum 5 years||Explore|
|Uttar Banga Kshetriya Gramin Bank||13.00%||Maximum 5 years||Explore|
|Uttar Bihar Gramin Bank||11.50% - 12.00%||Maximum 5 years||Explore|
|Vidharbha Konkan Gramin Bank||13.50% - 15.00%||Maximum 5 years||Explore|
Whether you have a running business or you are starting a business, you need to have enough amount of capital so that the business can run smoothly and the things can be done in a hassle free manner. You may require a Business Loan for running your business easily.
Indian Government has already come up with variety of business loan schemes and various programs to encourage entrepreneurs to start new business as the growth of business ultimately contributes a lot to the growth of economy. Under this, many types of different schemes are offered by public sector banks to give these types of business loans to small and medium enterprises (SMEs) such as Credit Guarantee Fund Scheme for Micro and Small Enterprises, Market Development Assistance Scheme for MSMEs, Mini Tool Room and Training Centre Scheme, Credit Link Capital Subsidy Scheme for Technology Upgradation, etc.
A Business Loan is a loan which is specifically extended for business purposes. It may be obtained from a bank and can be either secured or unsecured. For secured loans, banks will require collateral as a security for that loan. Hence, the borrower pledges an asset such as plant, equipment, stock or vehicles for availing a secured loan which may be used, if loan is not repaid by the borrower in due course. Unsecured Loan is not backed by any security though the bank (lender) will have a general claim on the borrower's assets, in case repayment is not made by the borrower in time.
Business Loan is a borrowed capital and the business needs to pay a regular interest and repay the whole principal at the end of the loan period.
Broadly, Business Loan has been divided into following 2 categories:Working Capital Business Loan: It is provided for running daily operations of a business smoothly. It is generally given for shorter term.
Broadly, Business Loan has been divided into following 2 categories:Secured Business Loan: This loan is backed by collateral. This loan is available at comparatively low interest rate, as the bank can sell the collateral in case of any default by the borrower. Unsecured Business Loan This loan is not backed by any collateral. This loan is available at comparatively high interest rate to the borrowers.
The Business Loan Application Form is to be filled up and submitted to get a business loan. The form requires the details of following items:
The Micro, Small and Medium Enterprises in Manufacturing and service sector are defined as under in MSMED ACT, 2006
|Enterprises*||Units engaged in manufacturing/ processing of Goods||Units engaged in providing/rendering of Services th>|
|Micro Enterprise||Investment in plant and machinery not exceeding Rs.25 lakhs.||Investment in equipment not exceeding Rs.10 lakhs.|
|Small Enterprise||Investment in plant and machinery exceeding Rs.25 lakhs but not exceeding Rs.5 Crores.||Investment in equipment exceeding Rs.10 lakhs nut not exceeding Rs.2 Crores|
|Medium Enterprise||Investment in plant and machinery exceeding Rs. 5 Crores but not exceeding Rs.10 Crores.||Investment in equipment exceeding Rs. 2 Crores nut not exceeding Rs.5 Crores|
Manufacturing Enterprises i.e. enterprises engaged in the manufacture or production, processing or preservations of goods with investment in Plant & Machinery as stated above.
Service Enterprises i.e. Enterprises engaged in providing or rendering services and whose investment in equipment as specified above. (Original cost excluding Land & Building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006).
Loans for food and agro processing will be classified under Micro and Small Enterprises, provided the units satisfy investments criteria prescribed for Micro and Small Enterprises, as provided in MSMED Act, 2006.
*All individual/s, firms/ company /LLP, etc.
2018 July 20 is a bank holiday in Nagaland due to Kharchi Puja.
2018 August 04 is a bank holiday in Nagaland due to Ker Puja.
2018 August 13 is a bank holiday in Manipur due to Patriots' Day.
2018 August 15 is a bank holiday in Andaman And Nicobar Island due to Independence Day.
2018 August 17 is a bank holiday in Daman And Diu due to Parsi New Year (Shahenshahi).
2018 August 22 is a bank holiday in Andaman And Nicobar Island due to Bakri Id (Id-ul-Zuha)/Karma Puja.