What are the mandatory documents required?
- Company ROC as a proof of minimal 3 years business existence
- 2 Passport sized photographs
- Latest 1 year Bank Statement
- Office address proof
- Personal identity & residential proof
| Bank Name | Min Interest Rate | Processing Fee | Max Tenure (Month) | Forclosure Charge | |
|---|---|---|---|---|---|
|
9.35%
|
0.25%
|
12
|
2%
|
|
|
9.50%
|
025%
|
12
|
2%
|
|
|
9.00%
|
0.25%
|
12
|
2%
|
|
|
9.00%
|
0.25%
|
12
|
2%
|
|
|
9.75%
|
0.25%
|
12
|
2%
|
|
|
9.45%
|
0.25%
|
12
|
2%
|
|
|
9.50%
|
0.20%
|
12
|
2%
|
|
|
9.00%
|
0.25%
|
12
|
2%
|
|
|
9.50%
|
0.25%
|
12
|
2%
|
|
|
9.70%
|
0.25%
|
12
|
2%
|
|
|
9.45%
|
0.25%
|
12
|
2%
|
|
.png)
|
9.80%
|
0.25%
|
12
|
2%
|
|
|
9.00%
|
0.25%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
|
9.00%
|
0.50%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
|
9.20%
|
0.50%
|
12
|
2%
|
|
|
9.00%
|
0.50%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
.png)
|
9.60%
|
0.50%
|
12
|
2%
|
|
|
9.00%
|
0.50%
|
12
|
2%
|
|
|
9.00%
|
0.50%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
|
10.50%
|
0.50%
|
12
|
2%
|
|
|
9.00%
|
0.50%
|
12
|
2%
|
|
|
10.00%
|
0.50%
|
12
|
2%
|
|
|
9.00%
|
0.50%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
|
9.50%
|
0.50%
|
12
|
2%
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
9.35% |
|
|
|
9.50% |
|
|
|
9.00% |
|
|
|
9.00% |
|
|
|
9.75% |
|
|
|
9.45% |
|
|
|
9.50% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
9.70% |
|
|
|
9.45% |
|
|
|
9.80% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
9.50% |
|
|
|
9.20% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
9.60% |
|
|
|
9.00% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
10.50% |
|
|
|
9.00% |
|
|
|
10.00% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
9.50% |
|
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 Criteria depends on various factors like age of individual, business sales/turnover, total work experience & CIBIL Score ..etc.
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.
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.
What are the mandatory documents required?
How much Credit Score required for Working Capital Loan?
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.
How much will be the Working Capital processing fee?
Usually, Lender impose an fee for processing loan applications which would be 0.50% - 2% of total loan amount vary from banks to banks.
What will be the maximum loan amount for Working Capital Loan?
There are various factors that determine maximum loan amount ,in case to case things get varied.
Does NBFC’s provide Working Capital Loan?
Yes, Multiple NBFC’s provide loan for business expansion & for their management system through financial support.
Is I am eligible for Working Capital Loan?
To know your eligibility, you need to check the common eligibility criteria of Capital Loans: -
What is the major benefits of getting Capital Loans?
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.
What is Working Capital Loan?
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.
Is Getting Working Capital Loan from banks are good?
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.
Want to get financial service? Advise by CA Vikas Jain
CA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreCA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
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