Private Loans for Business

I want to apply for Business Loan in RBL Bank Ltd. so can you please tell me the Eligibility & Criteria top apply for this loan?

[Kiran Chandar]

RBL Bank Limited is a scheduled commercial bank headquartered in the Kolhapur, Maharashtra. It was established in 1943.

Business Loan

RBL Bank Business Loans are a perfect solution to service your short-term finance and working capital requirements.

Eligibility & Loan Criteria

Business Loans can be provided to self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies with a profitable business for the past 3 years.

Applicant’s age should be minimum 27 years and maximum 65 years

Minimum 5 years of experience required in the same line of business with at least 3 years of business establishment & operation in the same city.

For self-employed professionals, minimum 4 years of post-qualification experience is required.

Minimum business turnover required is Rs. 1 Crore and for Professional / Service Sector, applicant’s gross receipts should be at least Rs. 60 Lakhs.

Applicant must own either residence or office in his name or jointly with family members or resides in a residence owned by an immediate family member.

Product Features-

Loan amount from Rs. 10 Lakhs upto Rs. 35 Lakhs

Convenient loan repayment option of 12 to 36 months

No security or collateral required to avail this loan

Documents Required-

Identity Proof – Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)

PAN Card – for Individual / Partnership Firm / Company

Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)

Business Continuity Proof – Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)

Ownership proof of either residence or office either in the name of applicant or jointly with family members

Letter certifying end use of the business loan funds on Business Letterhead

Passport Size Photographs of all applicants and co-applicants