| Bank Name | Maximum Loan Amount | Monthly EMI ( Principal amount only ) |
|---|
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
8% | 1% | 100 | 84 |
|
|
Bank of India
|
9% | 1% | 100 | 84 |
|
|
Bank of Maharashtra
|
9% | 1% | 100 | 84 |
|
|
Canara Bank
|
9% | 1% | 100 | 84 |
|
|
Central Bank of India
|
8% | 1% | 100 | 84 |
|
|
Indian Bank
|
8% | 1% | 100 | 84 |
|
|
Indian Overseas Bank
|
9% | 1% | 100 | 84 |
|
|
Karnataka Bank Ltd.
|
9% | 1% | 100 | 84 |
|
|
Punjab & Sind Bank
|
8% | 1% | 100 | 84 |
|
|
Punjab National Bank
|
9% | 1% | 100 | 84 |
|
|
State Bank of India
|
9% | 1% | 100 | 84 |
|
|
UCO Bank
|
9% | 1% | 100 | 84 |
|
|
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Union Bank of India
|
9% | 1% | 100 | 84 |
|
|
United Bank of India
|
9% | 1% | 100 | 84 |
|
|
Startup India loan are specially designed to encourage entrepreneurs for boosting their business, wherein loan for startup help to achieve it by removing the gap of cash flow like purchasing hi-tech equipment, renovating infrastructure, working capital of business..etc. There will be few mandatory criteria you require to meet them.
Startup business loans Eligibility CriteriaEligibility Criteria depends on several factors like repayment history, business sales/turnover& Creditworthiness ...etc.
Eligibility Criteria
Note: - You can get up to 50 Lakh as a maximum loan amount.
What are the factors generally affecting Startup business loans Eligibility Criteria?There are top factors that generally affects startup India loan eligibility criteria as given below: -
Lack of Business plan- For availing startup loan, lender want to know about your business plan to evaluate the goal achievement level. If you didn’t have a business plan to forecast on what & how much you spend with point out the revenue generating system will led to lower your eligibility.
Negative Cash Flow- A Financial management of business reflect the cash flow, if a company spend much money over a specified period will affect the cash flow after the expenses cost take place & reduces the chances of getting loan.
What are the ways to increase Startup business loans eligibility?To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Avoid applying from several lenders: - You might have a good credit score but even though it can be affected by applying from several lenders, as each time when you apply respectively each time lender raise credit score to check range through credit bureau which badly hit your credit score, therefore by avoding applying from several lender will save you from lowering your credit score & enhance
>Cut-down unnecessary expenses: - There are various ways to cut down unnecessary business expenses like outsourcing HR dept,Hire Intern, prefer to provide remote work, pay bill on time to avoid penalty, spend on digital marketing as it will cost less than offline marketing & help you to save money which makes a good cash flow management as well as boost eligibility.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER IPAN CARD, ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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The current Interest Rate for Startup Loan India starts from 10.00% to 22.00% depending on applicant credit profile & earlier repayment history.
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Startup Loan charge processing fee which ranges 0.50% to 3.00% on loan amount.
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Under Startup Loan borrower can get up to 10 lakhs as a maximum loan amount.
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There are several scheme developed for Startup Loan for business as given below-
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To get a Startup Business Loan, you need to ensure that you match eligibility criteria to avoid any kind of loan rejection. Once checked then apply to their preferred banks & get application form to fill with attaching all relevant documents then finally submit it. After reviewing your application banker will contact you for final discussion to proceed further for disbursement.
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Startup Business Loan for women's in India by Government has been implemented in recent times to encourage their participation towards self-employment & entrepreneurship.
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Startup Loan India offers you the benefits of below given: -
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If you are planning to get finance to expand your business scale, make sure you meet basic criteria as your age limit should be in-between 23 – 65 years, your business continuity should be above 3 years & finally your credit score range should be above 700.
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Startup Loan are specially designed for entrepreneurs to meet their financial needs in setting up new business or fuel their existing business through the help of funding provided by various Banks & NBFC’s.
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Startup business loan for women's in India are specially developed to encourage women participation towards self-employment & entrepreneurship.
CA Vikas Jain - Our Mentor
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