RBL Bank Business Loan
RBL Bank offers business loans in India with the motto of providing financial help to fulfil the requirements of short term business and working capital needs. Business financial requirements are capably addressed via these kinds of unsecured loans relying on business growth for the timely repayment of the loan. RBL Bank Business Loan may be either working capital loan or a demand loan with the repayment tenure of up to three years.
The loan is offered to businesspersons or entrepreneurs having the wish of improving existing business related infrastructure or expanding their business. So, these loans are used for various business requirements by the people of India.
Loanbaba.com provides all the information about RBL Bank Business Loans:
Eligibility required availing the loan:
Any individual, sole proprietorship, partnership firm, professional and Pvt. Ltd. companies that also includes closely held public ltd. companies, with a business having enough revenue and profit from last three years.
The minimum age of the applicant must be 27 years at the time of sanctioning of the loan and maximum 65 years when the loan is matured.
He/she should possess at least five years of experience in same business line with at least 3 years of operation and establishment in same city. If the applicant is a self employed professional, then he/ she must possess at least four years of post qualification experience
The yearly turnover of the business should be minimum one core rupees, and in service/professional sector, the total receipts of the applicant should be at least a total of sixty lakh rupees.
The applicant should own either an office or residence in his/her name or jointly with members of the family or should be staying at a place that is owned by any immediate member of the family.
RBL Bank Business Loans limits:
On the basis of applicant's credit worthiness, documents' validity and securities' value, the bank can offer loan that can range from ten lakh to thirty five lakh rupees.
Documentation required availing RBL Business Loan:
PAN Card for Individuals, Companies and Partnership Firms
Proof of Identity- Driving License, Voter ID, or Aadhaar Card or Passport.