| Bank Name | Min Interest Rate | Processing Fee | Max Tenure (Month) | Forclosure Charge | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Bank of Baroda
|
9.35% | 0.25% | 12 | 2% |
|
|
Bank of India
|
9.50% | 025% | 12 | 2% |
|
|
Bank of Maharashtra
|
9.00% | 0.25% | 12 | 2% |
|
|
Canara Bank
|
9.00% | 0.25% | 12 | 2% |
|
|
Indian Bank
|
9.75% | 0.25% | 12 | 2% |
|
|
Indian Overseas Bank
|
9.45% | 0.25% | 12 | 2% |
|
|
Central Bank of India
|
9.50% | 0.20% | 12 | 2% |
|
|
Punjab & Sind Bank
|
9.00% | 0.25% | 12 | 2% |
|
|
Punjab National Bank
|
9.50% | 0.25% | 12 | 2% |
|
|
UCO Bank
|
9.70% | 0.25% | 12 | 2% |
|
|
State Bank of India
|
9.45% | 0.25% | 12 | 2% |
|
|
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Union Bank of India
|
9.80% | 0.25% | 12 | 2% |
|
|
United Bank of India
|
9.00% | 0.25% | 12 | 2% |
|
|
Axis Bank Ltd.
|
9.50% | 0.50% | 12 | 2% |
|
|
Bandhan Bank Ltd.
|
9.00% | 0.50% | 12 | 2% |
|
|
City Union Bank Ltd.
|
9.50% | 0.50% | 12 | 2% |
|
|
DCB Bank Ltd.
|
9.50% | 0.50% | 12 | 2% |
|
|
Digibank (DBS)
|
9.20% | 0.50% | 12 | 2% |
|
|
Federal Bank Ltd.
|
9.00% | 0.50% | 12 | 2% |
|
|
HDFC Bank Ltd
|
9.50% | 0.50% | 12 | 2% |
|
|
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ICICI Bank Ltd.
|
9.60% | 0.50% | 12 | 2% |
|
|
IDFC First Bank
|
9.00% | 0.50% | 12 | 2% |
|
|
IndusInd Bank
|
9.00% | 0.50% | 12 | 2% |
|
|
Kotak Mahindra Bank
|
9.50% | 0.50% | 12 | 2% |
|
|
RBL Bank Ltd.
|
10.50% | 0.50% | 12 | 2% |
|
|
South Indian Bank Ltd.
|
9.00% | 0.50% | 12 | 2% |
|
|
YES Bank Ltd.
|
10.00% | 0.50% | 12 | 2% |
|
|
Equitas
|
9.00% | 0.50% | 12 | 2% |
|
|
Ujjivan Small Finance Bank Ltd.
|
9.50% | 0.50% | 12 | 2% |
|
|
Utkarsh Small Finance Bank Ltd.
|
9.50% | 0.50% | 12 | 2% |
|
|
Boost your business to next level of success through the aid of working capital limit facility offered by leading banks at attractive interest rate with flexible tenure. Even overdraft facility is offered, before applying ensure you meet specific eligibility criteria.
Working capital limit Eligibility CriteriaWorking capital limit Eligibility Criteria depends on various factors like age of individual, business sales/turnover, total work experience & CIBIL Score ..etc.
Eligibility Criteria for Self-Employed Individuals
There are top 4 factors that generally affects Working capital limit Eligibility Criteria as given below: -
Production process length: - If your organization is still practicing work by labour instead of machinery then, you will require more working capital which would lower your eligibility chance.
Business Nature of Company: - As stated above in eligibility criteria not every business is allowed to get working capital as only those business which are involved in trading & manufacturing will be able to enjoy this facility.
Past buyer history: - Lender will check your past buyer history whom & how regularly they utilize your services & make payments. If suppose any default found on past payment, then you will not be able to get more working capital.
Accessibility of Raw material: - If Accessibility of raw material unable to get easily then in this case you will look for more working capital which will not possible.
What are the ways to increase Working capital limit eligibility?To increase Working capital limit eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.
Minimize your operating cycle: - Usually, operating cycle are measured from the date of purchasing raw materials for project to receive payment. Therefore, you required to complete this operating cycle by minimizing its time period.
Cut-Down unnecessary expenses: - Not only your credit affects your eligibility even you customer credit history needs to check properly before supplying goods & services ,know whether they can afford to pay bill on time or not. If your customer credit history seems to be bad then, avoid proceeding further with them, it would help you to increase eligibility.
Check well your customer credit: - Try to avoid unnecessary expenses spending in business, set a limit of rules & regulations upon business expenditure. Let utilize that money for business daily operational expenses.
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
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 I CARD ,PAN ,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
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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For getting Capital Loans you must have Credit Score above 750 as much as the higher Credit Score is that much possibility of getting loan increase with that it also provides you the benefit to negotiate better rates & terms.
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Usually, Lender impose an fee for processing loan applications which would be 0.50% - 2% of total loan amount vary from banks to banks.
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There are various factors that determine maximum loan amount ,in case to case things get varied.
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Yes, Multiple NBFC’s provide loan for business expansion & for their management system through financial support.
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To know your eligibility, you need to check the common eligibility criteria of Capital Loans: -
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This type of facility comes under Unsecured category which give you the relaxation of not pledging Collateral/Assets to get loan not only that due to its a short-term loan it won’t give you the tense of more documentation with that online application is also available.
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Working Capital are generally borrowed to cover day to day business operational costs which include management, purchase of goods, rental expenses, employee salary or wages & other office related expenses.
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Yes, there would be various NBFC's too providing Capital Loans but majorly compared to many terms Government or Private Banks are far better to avail loan.
CA Vikas Jain - Our Mentor
9863-02-02-02