Saurashtra Gramin Bank Business Loan Interest Rate at 10.75% - 11%

Note: Updated on 10 Feb 2023, for latest interest rates, please visit bank website.

About Saurashtra Gramin Bank

Saurashtra Gramin Bank is a bank in india established on 1978. It has headquarter in Rajkot and address is Wing-2, 1st Floor, LIC, Jeevan Prakash Building, Tagore Road, Rajkot - 360001 Gujarat, India. it has 565 branches across the state.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Saurashtra Gramin Bank Business Loan Interest Rates, Business Loan at 10.75% - 11% Updated on 07 Jun 2023. Apply for Business Loans Online. Find purpos, Eligibility, Margin, Repayment of Business Loan ,Security, Documents Required for Business Loan below.

Other Products of Saurashtra Gramin Bank:

Saurashtra Gramin Bank Business Loan Purpose

The scheme provides SME Loan having tangible security more than total exposure .

Saurashtra Gramin Bank Business Loan Document Required

1. Completely Filled Business Loan Application Form
2. PAN Card - For Individual / Partnership Firm / Company
3. Identity Proof - Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
4. Address Proof - Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
5. Ownership proof of either residence or office either in the name of applicant or jointly with family members
6. Business Continuity Proof - Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
7. Proof of Vintage eg. Shops & Establishment certificate/VAT/Sales Tax Registration Certificate, etc
8. KYC documents of Applicant/ Co-Applicant/ Promoters/ Guarantor
9. Passport Size Photographs of all applicants and co-applicants
10. Financial Projection for 2 years
11. Last 3 year Financial Statement including latest 2 years Audited Statements along with all schedules
12. Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
13. Any other document as required by the bank based on the status of the applicant.

Saurashtra Gramin Bank Business Loan Margin

margins

Saurashtra Gramin Bank Business Loan Repayment

Maximum 60 EMI

How to Manage your Business Loan Properly?

1. Follow a financially disciplined attitude. You also need to manage your income and expenses well.
2. Switch to loan having Lower Rate of Interest. Always be watchful about what rate of interest other lenders are charging. If you find considerable difference in the interest charge, you must think of switching you existing loan to the lender who is offering the loan at lower interest rate.
3. Pay Higher EMI in case you are able to do so with ease and currently having no monetary issue. It will lower down you Business Loan amount and also lower your interest outgo.
4. Opt for Partial Pre-payment. Whenever you receive extra funds by any means, you must try to make partial pre-payment of loan. It will reduce your debt marginally.
5. Do not Avail Unnecessary Loan. If you can manage some small expenses out of the funds in your hand then you must not opt for any kind of loan.
6. Pay your EMIs on Time. Do not make any delay in payment of your loan EMI and never ever miss your EMI. Delay in payment may attract penalty or extra charges. Also it will impact your credit score negatively.
7. Make higher down payment. In that case, you will need lower loan which you can manager efficiently by repaying it on time and with ease.
8. Try to repay other small loans, if possible. It will reduce your debt burden and so as your interest cost.

Tax Benefits Available in Business Loan

Interest paid on a business loan is tax deductible expense which means interest paid is an expense for the business and is deducted from gross income. However, the principal amount is not tax deductible because repayment of principal means paying back the money borrowed, hence cannot be considered an expense.

As the tax is paid on the net income earned by a businessman in a financial year. So the interest can be subtracted from the gross income in order to compute the net income. After deducting the interest expenses from the gross income, net income is arrived at, on which the income tax is paid.

As after deduction of interest from the gross income of the business, the net taxable income, on which tax is to be paid, reduces and hence the businessman needs to pay less income tax.

Contact details of Saurashtra Gramin Bank, Saurashtra Gramin Bank SMS balance check number, Saurashtra Gramin Bank SMS banking, Saurashtra Gramin Bank mobile banking, Saurashtra Gramin Bank toll free number,Saurashtra Gramin Bank toll free number 24*7, Saurashtra Gramin Bank miss call number.

• MISSED CALL NUMBERS - 9289200123
• CUSTOMER CARE NUMBERS - 0281-2482421, 2482422, 18005327444, 18008331004
• CONTACT NUMBERS - 0281-2482421, 2482422, 18005327444, 18008331004, Fax-0281-2371127

Saurashtra Gramin Bank Contact Details

• BANK OFFICIAL WEBSITE - https://www.sgbrrb.org
• CONTACT NUMBERS - 0281-2482421, 2482422, 18005327444, 18008331004, Fax-0281-2371127
• EMAIL ID - enquiry@sgbrrb.org
• MISSED CALL NO. - 9289200123
• CUSTOMER CARE NO. - 0281-2482421, 2482422, 18005327444, 18008331004
• TOTAL BRANCHES - 565
• HEADQUARTER - Rajkot
• BANK ADDRESS - Wing-2, 1st Floor, LIC, Jeevan Prakash Building, Tagore Road, Rajkot - 360001 Gujarat, India

Saurashtra Gramin Bank EMI Calculator  Saurashtra Gramin Bank Branches  
Saurashtra Gramin Bank Business Loan FAQs  Business Loan Document Required

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