State bank of india is the largest bank in India in terms of assets and liabilities. SBI has largest network of branches present all over India. SBI offers home loans to its customers and non customers at attractive rate of interests compared with other banks. in this article, we would look into rate of interest  offered for  SBI home Loan for your reference.

SBI Home Loan Interest rate card for structure (Floating)

• For Home Loan amount up to Rs 30 lakhs Effective rate would be in between 6.80% to 7.10%
• For SBI Home Loan amount greater than 40 Lakhs, Effective rate would be 7.05% to 7.40%
• For Loan amount greater than 75 Lakhs, effective rate of interest would be 7.15% to 7.50%

These home loan interest rates are for salaried individuals, for non salaried individuals a premium of 15 bps would be charged over and above this.

SBI Home Loan Interest rate card for other scheme

• For tribal plus home loan, an additional premium of 10 bps would be charged over and above these rates
• For CRE Home Loans, premium of 15 bps would be charged

SBI Home Loan Interest rate card for other Realty loans

• For Loan amount up to Rs 30 Lakhs, effective base rate of 7.50%
• For loan amount between 30 to 75 lakhs, effective base rate of 7.60% would be charged by SBI
• For Home loan amount greater than 75 Lakhs, rate of interest would be 7.70%

SBI Home Loan Interest rate card for Top up loans

• Rate of interest varies from 7.50% to 9.55% for loan amount varying from Rs 20 lakhs to Rs 5 Crores
• For insta top up home loan, rate of interest that is 155 bps over and above standard rate would be charged

SBI Home Loan interest rates 2022

Various SBI Home Loan schemes

• SBI regular Home Loan
• SBI balance transfer home loan
• SBI flexipay Home Loan
• SBI Privilege Home Loan
• SBI Shaurya Home Loan
• SBI Pre approved Home Loan
• SBI Realty Home Loan
• SBI Home Top up Loan
• SBI Young Insta Home Top up loan
• SBI Corporate Home Debt
• SBI Non salaried offering
• SBI Reverse Mortgage
• SBI LAP

In this post, we have looked into rate of interest offered by various SBI Home Loan schemes. if you are interested in details of various SBI Loan schemes such as documents required, eligibility, tenure etc, then you can visit our post here.

HDFC Consumer Loan

HDFC Bank is one of the largest private sector banks in the country. HDFC consumer loan is one of the best options to finance your consumer goods. In this article, we would look into various features of a consumer loan from a HDFC Bank in detail.

Benefits of a HDFC Consumer Loan –  You can avail a loan with no extra cost with leading brands such as LG, Sony and other major consumer brands. Moreover, you get a offer to pay loan amount in tenure between 6 months to 24 months from HDFC bank. Bank follows a easy processing and documentation including KYC. Consumer can get financing up to 100% of the cost of the product with no down payment needed for HDFC consumer loan.

Eligibility criteria – Salaried employee between age of 21 to 60 and self employed individual between 26 to 65 years old are eligible to apply for a consumer loan. Minimum salary required for a HDFC loan is 15000 per months and for a self employed individual ITR of 1.5 Lakhs have to be filled in previous year. Minimum loan amount offered is 10000 and maximum loan amount can go up to 5 lakhs.

Fees and charges – HDFC bank charges various fees and charges on its personal loan. Cheque bouncing charges of minimum 550 would be charged for a every cheque bounced by customer. Other charges include late payment charges and pre closure charges of 3% of balance payment. Processing fee for HDFC consumer loan is 750 plus GST.

Documentation – Loan form HDFC have  a quite simple documentation process and would include following documentation to be completed for availing this loan-

• Proof of Identity such as Adhar card, voter ID, PAN card, Driving licence, passport etc.
• Proof of address such as Aadhar card, Voter ID, Driving license, passport, identity card issued by central and state government, pension card issued by authorities etc.
• Latest 3 months salary slips and Form 16
• ITR of a self employed
• Application form and Loan agreement post disbursement

With increasing income level and great product choices to choose from, people are are increasingly buying new and updated consumer products. However, sometimes consumers are sometime not able to pay in cash for the desired product due to lack of cash at the time of purchase. During these times, a loan from a reputed financier like HDFC is a great choice for a consumer. If you are interested in availing a business finance for your business then you can check out our page on business loan here.

Bank of Baroda Personal Loan

A personal loan from Bank of Baroda is a great financial product for personal use by end customer. In this article, we would be looking into details of various features of BOB Personal Loan.

Eligibility – Every individual who is working in a private or a public limited company is eligible for a personal loan from Bank of Baroda. Self employed individuals who have a continuous business vintage of more than 1 years are also eligible for a personal loan from Bank of Baroda. Age should be more than 21 years and lower than 65 years at the time of personal loan application. Maximum loan up to 15 Lakhs can be availed from Bank of Baroda with processing fee of 2% plus GST on loan amount. Individuals eligible for Bank of Baroda loan are mentioned below-

• Employees of central/state Government/autonomous bodies/public/joint sector undertakings, public limited companies/MNCs & educational institutions with minimum continuous service for 1 year.
• Employees engaged in proprietorship, partnership firms, private limited companies, trust with minimum work experience of 1 year
• Insurance agents doing business for more than 2 years
• Self employed professionals with minimum vintage of 1 year are also eligible for Bank of Baroda personal loan

Interest rates and charges – Personal loan from Baroda bank entails different charges and interest rates depending upon profile of the applicant. Minimum rate of interest for a Bank of Baroda customer is 10.5 and for non Bank of Baroda customer, it is 12.5%. Processing fees are charged uniformly at 2% on loan amount. Loan tenure offered is for 48 to 60 months.

Documents required for Bank of Baroda personal loan- 

In this article, we have discussed in detail about various features of a loan from Bank of Baroda.

If you want to read more about business loans offered by other major banks then you can visit following articles.

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan
• Axis Mudra Loans
• PNB Business Loan
• Kotak Mahindra Business Loan
• Yes Business Loan
• Bank of Baroda Business Loan

Bank of Baroda is one of the largest banks in India. Bank of Baroda is known for its overseas bank operations apart from tremendous branch network in India. A business can gets its financing needs fulfilled by a Bank of Baroda Loan. Bank of Baroda offers various types of loan products to serve business financing needs of all type of customers. Let us look at various types of Loans offered by Bank of Baroda in this article-

Digital mudra Loan – BOB offers Mudra Loans to MSMEs established in India. Loan up to 10 lakhs can be availed under this scheme. This loan is availed by entities involved in trading, manufacturing and services sector. Basic requirements for this loan includes PAN details, GSTIN number, last 6 months banking statement, proof of identity and proof of address. Bank of Baroda Mudra Loan can be availed by proprietor, private limited company or a partnership etc.

Digital MSME Loan – Digital MSME loans are an unique offering by Bank of Baroda for its MSME customer. These loans are given to micro, Medium and Small enterprises for a tenure of 12-60 months. Loan eligibility criteria is similar to Bank of Baroda Mudra Loans.

Baroda Energy Efficiency Project (BEEP) Finance – This is a loan that is offered to Energy service companies or ESCOs. maximum loan amount that can be availed under this Baroda Loan is 15 Crores. This loan is guaranteed by SIDBI and minimum collateral required for this loan is 25% of loan amount. payments and receipts for these loans are routed through Escrow account.

PM Svanidhi Scheme – Maximum loan amount of Rs 10,000 is provided to street vendors identified in survey and in possession of Certificate of Vending / Identity Card issued by Urban Local Bodies (ULBs).

Baroda arogyadham loan – This loan is provided to setup or renovate a hospital or a medical facility. Additional requirement fulfilled by this loan is purchase of medical equipment and stock of medicines.

Bank of Baroda Artisan credit  card – Artisans involved in manufacturing/production process are eligible for this loan. Maximum credit limit of Rs 2 Lakhs is provided to artisans registered with local commissioner

Bank of Baroda loan is a one top solution for all of your financing needs and these loans are offered to virtually every business registered in india. Bank of Baroda has a pretty simple appraisal process with easy documentation and application.

If you want to read more about business loans offered by other major banks then you can visit following articles.

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan
• Axis Mudra Loans
• PNB Business Loan
• Kotak Mahindra Business Loan
• Yes Business Loan

Yes Bank Business Loan

Yes Bank is one of the largest private sector banks in India. Yes Bank has PAN India presence with branches located all over India. Yes bank is known for fast and easy loan processing for business clients. Yes  business Loan is a one stop solution for all of your business financing needs. Let us look at various features of Yes Loan in this article

Scorecard based lending – Scorecard based lending is the lending product designed for trading, service and manufacturing sector. In Scorecard based lending, your loan amount is decided on the basis of turnover of your business. Yes Bank is pretty flexible on the the collateral point of view.

Smart Edge – Yes bank offers a business loan product without requirement of any financial document such as profit and loss and balance sheet. In this product, you are required to submit your GST returns and Bank statement for analysis of loan from Yes bank. One can get a loan amount up to Rs 3 Crores under this scheme

Smart Overdraft – is aimed at MSMEs engaged in manufacturing , trading and professionals like Doctors, Chartered Accountants, Engineers and Architects. providing working capital limit up to INR 1.5 Cr without balance sheet. You would not be required to submit a balance sheet and loan amount is based on your banking transaction. You might be asked to submit a collateral in the form of a property to secure your loan. You can get loan up to 1.5 crores under this scheme. However, minimum loan amount offered is Rs 20 Lakhs by Yes Bank.

Yes spark – It is one of the best loan products for startup funding. Under Yes Spark, you can get a loan up to .25 and 5 crores for your startup registered with DPIIT. It has relaxed eligibility criteria compared to other banks such as lower vintage and banking turnover

Supply chain financing – Yes Business loan is also available to vendors of leading manufacturers in india. Under this scheme, receivables of vendors are financed by Yes Bank. Dealer financing is also available to dealers of leading manufacturers in india. Documents required for a Yes Bank Supply chain finance is similar to all other Yes Business Loan.

Yes GST Loan – Post implementation of the GST regime, most of the business above a certain turnover have to move to GST regime mandatorily. Yes GST Loan is simple product offered to GST registered business across india. Yes GST loan is offered with 6 months of GST returns and there is no requirement to submit financials and bank statement with the bank. You can get more information on Yes Business Loan here.

If you want to read more about business loans offered by other major banks then you can visit following articles.

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan
• Axis Mudra Loans
• PNB Business Loan
• Kotak Mahindra Business Loan

Kotak Mahindra Business Loan

Kotak Mahindra Bank is one of the largest private sector banks in india. It offers variety of loan offers to its customers and general public. In this article, we would look into various features of Kotak Mahindra Business Loan. Let us look at the various features of Business loan here-

Business Loan Amount – Kotak offers business loan from Rs 3 Lakhs to Rs 75 Lakhs to all the eligible business people. Business loan amount is decided on the basis of credit worthiness of the business and businessman. Kotak business loans are unsecured business loan which means that you would not be required to offer any collateral for your loan.

Loan Tenure – Kotak offers business loan up to 48 months. Loans from Kotak are processed in a relatively faster pace compared to public sector banks such as SBI, PNB and others

Loan eligibility – Basic eligibility criteria for a loan from Kotak Mahindra Bank are mentioned below-

• Business has to have a vintage of at least 3 years with minimum turnover of 40 lakhs in past one year
• Business should be profitable in at least one of the past 3 years taken for business vintage
• The applicant should be a Sole Proprietor / Partnership firm / Private Ltd Co. / Trust / LLP involved in the business of Manufacturing, Trading or Services
• Applicant’s age should be between 25 years and 65 years

Loan fee and charges – Processing fee is 2% of total loan amount. Documentation charges varies between 3500 to 6500 for depending on loan amount.

Business Loan documents 

Business Loan EMI – Kotak business loan EMI depends upon 3 factors viz Loan amount required, Loan tenure, rate of interest etc. You can use following business loan emi calculator for calculate your EMI.

If you want to read more about business loans offered by other major banks then you can visit following articles.

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan
• Axis Mudra Loans
• PNB Business Loan

PNB Business Loan

Punjab National Bank is one of the largest public sector banks in India. PNB offers various loan for businesses across india. PNB business loan is offered at a lower rate of interest compared to private sector banks in India. In this post, we would look into various features of a business loan from Punjab national Bank.

Credit facility – PNB offers business loan in fund based as well as non fund based limits. Fund based limits would include facilities such as working capital loan, Term Loan, CC and overdraft limit. Whereas, non fund based limit would include facilities such as letter of credit and letter of guarantee etc.

Loan Amount – From PNB, you can get a loan up to 5 Crores for your business needs. Loan tenure can range from 12 months to 60 months. Interest rate on PNB loans is benchmarked against a standard rate known as RLLR and PNB charges a spread over it. Usually for business loans, PNB charges a rate of interest between 8%-15% per annum on reducing principal.

End use – PNB Business loan can be used for variety of end uses such as purchase of machinery, purchase of raw materials, working capital requirements etc.

Secured or unsecured – Punjab National bank offers its variety of business loan in both secured and unsecured manner. Main security that is taken for a business loan is in the form of a property.

Charges and fee – PNB charges variety of charges and fee for its loan processing. For complete list of charges by Punjab national bank, you can visit this link

Application form – You can complete online application for a business loan from Punjab National bank from these links-

Punjab National Bank business loan up to Rs 1 Crores

Punjab National Bank business loan up to Rs 2 Crores

Punjab National Bank business loan greater than  Rs 2 Crores

Documents required for PNB Business Loan

1. Bank statement – Bank statement for the past 12 months is usually required by a bank for verifying business credits, equity infusion, salary paid to employees, EMI deduction etc. care should be taken to submit bank statement not older than 15 days from the date of application. If possible, bank statement should directly be downloaded from bank’s website in a PDF format. Current account statement should be shared with the bank.
2. Business Registration Proof – A business registration proof must be provided in business loan documents. With the implementation of GST rule, banks can take GST registration as a valid proof of registration for a business loan. Other registration proofs such as IEC code, MSME certificate, Udyam registration are also valid registration documents for a business loan
3. PAN card copy – PAN card copy of all the directors is a mandatory requirement for a business loan. A business loan is an financial transaction and PAN is mandatory to be provided for inputting data to credit burau for the directors as well as establishing identity of the individual. Though, it is to be noted that a PAN card is not a valid proof of address.
4.   Aadhar card copy – A valid Aadhar card copy should be presented along with other business loan documents mentioned above. Aadhar is a valid proof of residence as well proof of address under Indian law
5. Company PAN card – For a business loan , PAN card of the company should be generated along with other documents required for a business loan.
6. Audited Financials – Banks will also ask for audited financials of the company for past 3 years to establish financial viability of the firm.

If you want to read more about business loans offered by other major banks then you can visit following articles.

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan
• Axis Mudra Loans

Axis Mudra Loan

Axis Bank is one of the top 5 private banks in India. It offers all the fincial products required by a business in India. The Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of Government of India launched in April 2015 for facilitating funding to the non-corporate i.e. small and micro enterprises in non-farm sector. In this post, we would look into various features of Axis Mudra Loans-

Categories of Mudra Loans

Axis Mudra loan follows Mudra Loan categorization as set by Government of india. Mudra Loan is offered in three categories namely  Shishu, Kishore and Tarun. Shishu loans are loan upto 50,000, Kishore up to 50000 to 5 Lakhs and Tarun from 5 Lakhs to 10 Lakhs.

Nature of Mudra Loans

Mudra loans are offered by Axis Bank without the requirement of having any collateral such as property. These loan can be taken in the form various fund based products such as Working capital Loan, Overdraft, Cash credit as well as non fund based credit such as letter of credit and letter of guarantee.

Eligibility for Axis Mudra Loan

To avail a Mudra Loan, a firm must be either categorized as a micro or small enterprise and have a running cash generating business. Maximum loan amount offered in this scheme is up to Rs 10 Lakhs and if your enterprise has a loan requirement that is greater than 10 lakhs then you can apply for other loans from Axis.

Axis Mudra Loan application form

You can download application for Mudra loan from Axis website. Basic details mentioned below needed to be filled for application for the loan-

1. Business Information – Common business information such as name of the enterprise, nature of firm, Business address, Business activity, Registered office address need to be filled in the application form
2. Background information – Information such as name, date of birth, sex, academic qualification, PAN card details need to be filled in background information
3. Existing credit facility details –Existing credit facility details (if any) taken need to be filled in this section
4. Credit facility proposed – Nature and amount of credit facility proposed such as working capital loan or term loan should be mentioned in this section
5. Past performance details – You would be needed to fill revenue, profit and net worth details for past years here.
6. Statutory obligations – Statutory obligations such as Registration under Shops and Establishment Act, Registration under MSME (Provisional /Final), Drug license etc.
7. Self declaration – Applicant need to complete self declaration and attach a photo in the application form

Axis Mudra Loan is relatively easy financial product that is offered by Axis Bank to serve financing needs of a small enterprise. Mudra scheme was launched by Government of india for underserved section of the country. If you want to read more about business loans offered by other major banks then you can visit following articles.

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan

Axis Business Loan

A Business Loan from Axis Bank is an one stop solution for all of your business finance requirements. Axis Bank is among the top 5 private sector banks in India and has reach pan India with its exhaustive branch networks that spans over every major city in India. Let us look at various features of Axis loan in this article.

Collateral Free

Loan from Axis Bank  is a collateral free loan that is provided to all entities and you can get loan up to Rs 50 lakhs without providing any property or collateral security to the bank.  Moreover, this loan can be availed for period of 6 to 36 months and is structured in easy to pay EMI each month.

Eligibility

Eligibility criteria for an loan is pretty simple. All you need to have a business which is at least 3 years old. Business turnover should be at least 30 lakhs in last year and applicant should be between age of 21 and 65 years. Following entities are eligible to apply for a business loan from Axis Bank-

• Individual (with business registration)
• Proprietorship Firm
• Partnership
• Limited Liability Partnership
• Pvt ltd Companies
• Unlisted Public Ltd. Companies
• Trust & Societies (for educational institutes / Hospitals)

Documents required for a business loan

Following documents are required by Axis Bank for speedy appraisal of your business loan application-

• Duly filled in application form signed by the customer
• Relevant financial documents
• Bank account statement of last 6 months
• PAN card/Form 60
• Business Proof

Axis loan EMI Calculator

If you want to know more about your monthly EMI for a business loan then you can calculate the same from AXIS EMI Calculator

Application process

Business can apply for a loan from Axis bank by following one of the three mentioned process-

• Download the application from Axis website, fill it an dsubmit it to the nearest Axis bank branch
• Visit the nearest Axis Bank branch and fill the application form in the branch itself
• Fill the application form online and submit respective documents here

Charges and Fees

Axis bank charges following charges and fees for your business loan –

• Processing fees for your loan application which can vary between 1.25% to 2% of the loan or overdraft amount
• Login fee up to Rs 5000 is charged for every loan application login
• Renewal processing fee of 1% plus relevant taxes
• Stamp duty and other statutory charges
• ROC filing charges up to 1200 Rupees
• Check Book issuance charges
• Other charges including penal interest, Pre payment, Foreclosure, partial repayment, CERSAI charges, NOC charges etc.

Loan selection by Axis Bank

Axis Bank follows a simple and transparent process for credit appraisal of business loan application. Following are the main criteria for for selection f your loan application-

• Healthy cash flows
• Professionalism in management.
• Satisfactory track record, integrity, corporate governance etc.
• Previous repayment track record
• Complete documentation

In this post, we have seen various features of a business loan from Axis Bank. If you are interested in Business loan from other major banks then you can visit following links for further information-

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan

ICICI Business Loan

ICICI bank is a major bank private sector bank in India. It offers various lending products to business for their various business needs. In this article, we would look into various ICICI Business Loan products that are offered by the bank.

Working capital Loan – ICICI Bank offers various working capital loans for your working capital requirements. Working capital loan includes Export Credit, Overdraft facility, Bank Guarantees and other products.

Term Loan – ICICI loan offers various term loan for expansion of your business. Term loan is offered with flexible tenure and assessment is based on future cash flows. Tenure for ICICI Term loan is upto 7 years and loan upto Rs 7 Crores is offered by ICICI.

GST Business Loan – ICICI bank offers business loan the basis of GST returns filed by a business. ICICI GST business loan is offered in the form of a overdraft facility. Loan upto Rs 1 Crores can be offered in paperless journey format with no requirement to visit the ICICI Bank branch. This overdraft is offered on the basis of self occupied residential/commercial property. If you want to get a ICICI GST business loan greater than Rs 1 Crores then you would be needed to visit your nearest ICICI bank branch.

ICICI Insta OD – ICICI offers an Insta Overdraft facility up to Rs 15 lakhs in a complete paperless fashion without any collateral or guarantee.

ICICI loan for new business – ICICI bank offers business loan for new entities with vintage of at least 1 year. However, this loan would require an additional collateral in the form of self occupied residential or commercial property. iCICI loan to new entities can be offered to following entities-

• Sole Proprietorship Firms
• Partnership Firms
• Private Limited Companies
• Public Limited Companies

Interest loan is charged on the basis of risk and income assessment of the business

ICICI Loan without financials – This loan is offered to MSME business with vintage of at least 3 years. There is no requirement for audited financials to avail this loan from ICICI. Only Sole Proprietorship Firms, Partnership or Private limited companies having a current account with us or with another bank for 2 years or above are eligible for a business loan for new entities. You can apply for loan from ICICI from this link.

ICICI loan is one of the most sough after loan by business across India. However, if you are interested in getting a business loan from HDFC or SBI then you can visit our following articles-

• HDFC Business Loan
• SBI Business Loan