Business Loan in Chennai
Business loan in Chennai is offered to professionals and business persons. Chennai is a metropolitan city in India and it is a big commercial centre because of strong infrastructure support. A variety of businesses (small, medium and large) are set up here in various sectors.With increasing population along with constantly reforms in infrastructure, businesses are also growing, and many are opting for business loan in Chennai from banks and NBFCs to fund their company’s financial needs.
|Business Loan in Chennai Details Updated|
|Loan Amount||Rs. 1 Lakh to Rs. 1 Crore|
|Loan Tenure||6 Months to 5 Years|
|Interest Rate||13.00% Onwards|
Today, a number of private financial institutions and banks offer financial help to people by providing business loans. Our website, Loanbaba.com will provide you all details about Business loan Chennai.
Why Apply for Business Loan Chennai on Loanbaba.com?
At Loanbaba, you can compare and apply for business loans online. You can check out several business loan schemes and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. We even offer you Business Loan EMI calculator free-of-cost, through which you can understand the instalment to be paid every month.
You can also quickly apply for Business Loan online on our website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
Get Business Loan Online in Chennai
Besides traditional sectors such as fabrics, jewellery and manufacturing, many new trades are being established in the sectors such as food, IT and retail. Financial help to run and expand these trades can be availed as business loans offered by all the NBFCs and banks and also by private finance companies and top business loan provider in Chennai such as SBI, Axis Bank, ICICI Bank etc. So, one can easily get financial help via Business Loans in Chennai. But for this, one has to meet the eligibility criteria decided by the financial institution or the bank.
Business Loans Interest Rates in Chennai
The rates can start at as low as 13%. The business loans interest rates in Chennai depends on the loan amount, tenure, financial position of the firm, and other factors, such as credit score of the applicant, co-applicant profile, income, business turnover and profit etc.
How Do I Get a Business Loan with the Lowest Interest Rate in Chennai?
Here are some of the ways you can get lowest interest rate business loans for yourself.
- Compare interest rates and offers on our website to know the lowest business loan rates.
- Maintain a clean record on repayments so that the financial institution readily offers you best interest rate on the loan.
- Strive to keep your company credit above 750, which is considered as a good credit score for business loan.
- Do not default on existing loans otherwise it will be difficult to get business loan approval or lower rates.
- Take benefit of seasonal offers by banks and NBFCs, specifically those that offer slashed interest rates.
Business Loan Eligibility in Chennai
The eligibility for Chennai business loan differs from one financial institution to other. But, basic requirements include ownership of the business, minimum profit generation as specified by the lending institute, age requirement of the applicant etc. You can also use free-of-cost Chennai business loan eligibility calculator at Loanbaba.com.
Documentation required for Chennai Business Loan
The documentation needed to avail Business Loan, Chennai includeproof of address , IT return of last 3years, audit report of finances, bank statements, ID proof of the company etc.
NBFCs and Banks providing business loans in Chennai:
- HDFC Bank: It is largest bank in private sector in India and there are almost 91 branches of the bank in the city.
- ICICI Bank: It is the 2nd largest bank in private sector in the country and it has almost 84 branches (full & part service) in Chennai.
- Axis Bank: It is the 3rd largest private bank in India and it has approximately 60 branches in Chennai.
- Kotak Bank: It is a renowned private bank in the country and it has almost 16 branches in Chennai.
- Citibank: It is a reputed bank and operating with one branch in Chennai.
- Bajaj Finserv: It is among the reputed NBFCs in the country and has five branches in the city.
- Tata Capital: It is also a renowned NBFC with two branches in the city.
- Fullerton: It operates in the city with its two branches.
One can also search for private finance to avail financial help to fulfil the entrepreneurial dreams via business loan in Chennai atloanbaba.com. To know more details and information about the entire process, get in touch with us by filling all the details in our application form.
How to Apply for Business Loan in Chennai on Loanbaba?
You can apply for Business loan Chennai with top banks and NBFCs at Loanbaba.com.