Why Aditya Birla Business Loan?
Aditya Birla finance limited is one of the largest private non-banking finance company (NBFC) in India. Aditya Birla Business Loan has amazing features. Aditya Birla Business loan is an unsecured loan that means you don’t need to keep any security or mortgage with the lending institution. The unsecured business loan is also available for even startups even for those who don’t even have any income proof. Interest rates are so minimum and fixed, it doesn’t take so much time to approve and it is so hustling free. And the more exciting thing is customized EMIS are available.
Eligibility Criteria of Aditya Birla Business Loan
Following are the eligibility criteria that is required for applying for Aditya Birla Business Loan–
- Self employed entrepreneurs. (Traders, Non-Individual Entrepreneurs, Individual Entrepreneurs, Companies, Manufacturers).
- Minimum age-27 years at loan sanctioning, maximum age 65 years at loan maturity.
- Minimum cash profit RS.10LAKHS
- Business should be running from the last 3 years.
- Clear repayment history from all running and previously closed loans.
- Credit score between 650-800.
Documents Required for Aditya Birla Business Loan
- The first and foremost document will be the application form.
- Passport Photograph.
- Proof of identity (PanCard, Voter Card, Adhaar Card).
- Address proof ( Ration Card, Electric Bill, Telephone Bill, Rental Agreement, Passport copy, Bank passbook or statement, Driving License)
- Audited financials and income tax returns filed for the last two years.
- Bank statements from the last 6 months.
- Proof of Business Registration.
- Proof of business existence.
Now we are giving a brief about interest rate and other charges of Aditya Birla Business Loan
|
Rate of Interest |
14.00%-26.00% |
|
Loan Amount |
Rs. 50,000-1crore |
|
Loan Tenure |
3 years |
|
Age |
27-65 |
|
Minimum Credit Score |
650 |
|
Processing Fees |
2% of loan+ GST |
|
Prepayment Charges |
NIL |
|
Turnaround Time |
It takes 5 minutes to approve the loan if documents are fine. |
Features of Aditya Birla Business Loan
- The minimum loan amount is 50,000 where the maximum loan amount is 1 crore all small startup and big business both can take this loan.
- Individual get 12 months to 36 months time to repay the loan.
- The individual can make partial prepayment without any penalties.
- With the help of this loan, one can pay their existing loan.
- People can apply for the loan online for avoiding paperwork.
