What are the parties involved in Project Loan?
- Sponsors
- Off Takers Host Government
- Banks/Financial Institutions
- Suppliers & Contractors.
| Bank Name | Min Interest Rate | Processing Fee | Max Tenure (Month) | Forclosure Charge | |
|---|---|---|---|---|---|
|
7.50%
|
1 %
|
84
|
2 %
|
|
|
8.00%
|
1 %
|
84
|
2 %
|
|
|
8.00%
|
1 %
|
84
|
2 %
|
|
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|
8.75%
|
1 %
|
84
|
2 %
|
|
|
7.50%
|
1 %
|
84
|
2 %
|
|
|
7.50%
|
1 %
|
84
|
2 %
|
|
|
9.00%
|
1 %
|
84
|
2 %
|
|
|
9.00%
|
1 %
|
84
|
2 %
|
|
|
9.00%
|
1 %
|
84
|
2 %
|
|
|
8.00%
|
1 %
|
84
|
2 %
|
|
|
7.50%
|
1 %
|
84
|
2 %
|
|
|
5.50%
|
1 %
|
84
|
2 %
|
|
|
9.00 %
|
1 %
|
84
|
2 %
|
|
|
10.00%
|
1 %
|
84
|
2 %
|
|
.png)
|
9.00%
|
1 %
|
84
|
2 %
|
|
|
9.00%
|
1 %
|
84
|
2 %
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
7.50% |
|
|
|
8.00% |
|
|
|
8.00% |
|
|
|
8.75% |
|
|
|
7.50% |
|
|
|
7.50% |
|
|
|
9.00% |
|
|
|
9.00% |
|
|
|
9.00% |
|
|
|
8.00% |
|
|
|
7.50% |
|
|
|
5.50% |
|
|
|
9.00 % |
|
|
|
10.00% |
|
|
|
9.00% |
|
|
|
9.00% |
|
Project loan is one such loan dedicatedly provided to corporate borrowers for their business & capital expenditure like setting up new project or growing up existing business project. Before applying for loan, make sure that you meet specific eligibility criteria as required like you need to prepare project report for bank loan & CMA earlier while availing project loan.
Project loan Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.
There are top factors that generally affects Project loan Eligibility Criteria as given below: -
Avoid applying multiple loan & credit card: - It is one of the key factor you should consider that avoid applying for multiple loan & credit card as it will harm your credit score & reduces your eligibility level.
Past Credit History: - Do you know, your past credit history can impact your present & future loan appearing chances. Due to lack of score you fail to avail a project loan.
Newly existing business: - Usually, not every business is eligible to get loan, as lenders have some fix terms & policies, one of them was newly existing business are ineligible as they don’t know your past performance on business.
To increase Project loan eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Build a high credit score: - This is one of the best way to increase eligibility of project loan, because lenders generally check your credit score as much as higher the score, your chances of loan approval increases.
Include all sources of income: - Your regular source of income plays a critical role in evaluating loan application, if it seems as low then probably your chances of rejection increase but if you add all your possible income sources then it will help you to increase your eligibility.
What are the parties involved in Project Loan?
How can I take Project Loan?
You can take loan from Private or Government bank or financial institute.
What is the advantage of Project Loan?
There are some advantages of Project Loan given below
Who are eligible for Project Loan?
Eligibility Criteria for Self-Employed Individuals, companies, and partnership firms.
What are the types of Project Loan?
What is Project Loan?
When we take loans for any project like an industrial project, public services, infrastructure, construction and innovation, etc.
What the things banks check before giving a Project Loan?
Bank will check your repayment capacity, collateral, capital, character, and conditions.
What are the charges we have to pay on Project Loan?
The charges are project-appraisal, legal services, commitment, non-utilization, Competitive processing fees etc.
When I have to do repayment of Project Loan?
You can repay your Project Loan normally in 6 months or 12 months.
What are the documents required for Project Loan?
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Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
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