Bandhan Bank Business Loan Details and Application Procedure

Bandhan Bank Business Loan Details and Application Procedure

A business loan may help people identify what they are planning to do with that money. Even though it can only be used for business, people may get confused about the purpose for taking that money on interest. Bandhan Bank has helped people identify their passion for business and gives them funds.

Bandhan Bank through its business loan helps people expand their business which was not happening because of lack of funds. For this, the applicants should be able to justify it to the bank that they need loan for genuine reasons. Also, they will have to submit relevant documents to prove this. There are mainly two types of SME loans at Bandhan Bank - Working Capital Loan and SME Loan. Both of them have a different purpose to serve and yet make sure that the needs of people is fulfilled. In this article, we have given details on Bandhan Bank Business loan which will help you identify whether or not it is suitable. You can apply for the loan online which is going to take a few minutes.

Bandhan Bank Samriddhi Business Loan ● Bandhan bank provides business loan to help in generating income assets and encourage productivity. ● They provide MSME loans to enhance the small & medium enterprises. Samriddhi business loan is designed in a way to offer convenience & ease to the customers. ● Few out of many features are mentioned further.

Eligibility Criteria for Bandhan Bank Business Loan ● Individuals, proprietorship, partnership firm can apply for the loan. ● To apply for Bandhan bank business loan minimum age should be 23 years & maximum age at the time of loan maturity should not exceed 60 years. ● Minimum of 2 year experience in same business is required.

However, eligible new entrepreneurs will be considered. ● For non – individuals satisfactory two years track record in the same business is required.

Features & Benefits of Bandhan Bank Business Loan ● ● ● ● ●

Easy repayment Minimum documentation procedure Low processing fee Hassle – free loan disbursal process Attractive interest rates

Bandhan Bank Business Loan ● Loan amount - ₹ 25 lakhs (Maximum) ● Loan Tenure - 5 years Including moratorium period of maximum 3 months ● Margin Working capital – 25% ● Term loan – 25% ● Repayment period - 60 months (EMI) ● Base Interest rate - 12.00%

Bandhan Bank Business Loan Documents The following documents are required along with your Business Loan application: ● ● ● ● ● ● ●

PAN Card – For Company/Firm/Individual A copy of any of the following documents as identity proof: Aadhaar Card Passport Voter ID Card PAN Card Driving License

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A copy of any of the following documents as address proof: Aadhaar Card Passport Voter ID Card Driving License Bank statement of the previous 6 months Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited ● Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate) ● Other Mandatory Documents [Sole Prop. Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]

How can you apply for Bandhan Bank Business Loan The loan application procedure is very simple and quick if you do it online. You only have to fill in basic details such as personal and professional details in the form and also how much loan amount you need.