#1
5th November 2015, 08:53 AM
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Business Loans from State Bank of India
Can you tell me in details about the Business Loans facility offered by State Bank of India as I want to apply for a loan from the Bank to start up my new Business?
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#2
5th November 2015, 10:28 AM
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Re: Business Loans from State Bank of India
Traders Easy Loan scheme is begin by SBI to provide annoy free loan to Traders. Any businessman/ entrepreneur/ professional and self employed person can avail it. Loan under the scheme can be availed to meet normal business requirements and is sanctioned against equitable mortgage of property. SBI Advantage on Business Loans: Low interest rates Low processing charges; only 2%-3% of loan amount No hidden costs or administrative charges. Minimum security required No prepayment penalties. Long repayment period of up to 48 months Loan Feature Loan Amount Upto Rs 5 crore Interest Rate 12.50-13.00% Tenure Maximum 5 years Pre Payment Charges Not provided Service Charges Processing charges: 1% of the loan amount Eligibility Criteria: Business Loan Self Age Age criteria not provided Income Income criteria not provided Job Experience Job experience not provided Residence Proof Residence proof not provided Docs Required: Business Loan Self ID Proof PAN card/voters ID/ passport/driving license Address Proof Recent telephone bill/electricity bill/property tax receipt/passport/voters ID DOB Proof 10th class certificate Financial Docs Bank Statements (latest 6 months bank statement /passbook) Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA Qualification proof of the highest professional degree Other Charges: Business Loan N/A |
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