SBI Business Loan | Interest Rates Dec 2016 | Documents | Information

SBI Business Loans ✓ Get Details on Documents ✓ Interest Rates ✓ EMI ✓ Processing Charges on SBI Business loans Online.

Interest Rate 11.20% – 16.30%
Lowest EMI Rs. 2,594 per lakh
Tenure 1 Year to 4 Years
Loan Amount Min Rs. 500,000 and Max Rs. 1,000,000,000
Part Prepayment Charges Nil Prepayment Charges after 6 EMI’s
Early Foreclosure Charges Nil Prepayment Charges after 6 EMI’s

Apply Business Loan

Loan Amount

SBI Advantage on Business Loans:

  • Low interest rates. Further, SBI will charge interest on a daily reducing balance!
  • Low processing charges; only 2%-3% of loan amount
  • No hidden costs or administrative charges.
  • No security required ……which means minimal documentation…something that you had always wanted.
  • No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan before 6 months)
  • Long repayment period of up to 48 months.

Purpose
The loan will be granted for any legitimate purpose whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability, such as marriage of son/daughter, defraying educational expenses of wards, meeting margins for purchase of assets etc.)

Eligibility

You are eligible if you are a Salaried individual,  self employed engineer, doctor, architect, chartered accountant, or a  MBA with minimum 2 years experience.

Loan Amount
Your personal loan limit would be determined by your income and repayment capacity.
Minimum  :

  • Rs.24,000/- is offered in metros and urban centres.
  • Rs.10,000/- in rural/semi-urban centres

Maximum : 12 times Net Monthly Income for salaried individuals and pensioners  subject to a ceiling of Rs.10 lacs in all centres

Documents Required:

Important documents to be furnished while opening a Personal Loan Account:

  • For existing bank customers(only) Passport size photograph

Repayment  Options:
The loan is repayable in 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.

Security – NIL

Processing Fee
Processing charges are 2-3% of the loan amount. This is amongst the lowest fees in the industry. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.

Source: State Bank of India Official Website

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Average rating:  
 11 reviews
by Vikash kumar
business loan

i want a new business mahindra 4 wheeler showroom in sheikhpura bihar you can help me .mai chattha hu jamin dikhakkar loan lena , can you help me urgent.

by Parthiban
business loan

New business loan, can i apply for loan online.

by Rahul kr manjhi
existing bank customers(only)

I want to opening my own business for opening mahindra powerol dg service center in purnia bihar.

by ramesh kumar
I want to take abusiness loan for starting a company

pls give details for it, i need a loan

by AfAab Alam
urgent need a business loan in ranchi jharkhand' I'm eligible 4 all types of loan

I want urgent loan for my business in ranchi jharkhand? can any one help me

by naresh paremeshwar gosalwad
bank loan

Good service. Best bank for self employeds

by subham singh
lon

Loan required to run a new business!!!

by avej pathan
loan

How much l can get loan for big garnal shop.please told me.

by sanjeeb gupta
loan

For business purpose, but it seems like rates are on higher side & processing time is relatively longer than private banks.

by K.kameshwaran
owen business

Own business ..Fashion. Dressings shop.. How much loan amount i can get.

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