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Poonawalla Credit Pvt Ltd Business Loan

Poonawalla Credit Pvt Ltd
4.5

If you are into business, you would know that you need to spend money to grow your business. And if you are well managing other expenses in that business, including capital can be a wise thing to do for its growth. However, getting that much capital can be a real challenge to deal with! So why not consider taking a Business loan? After all, it is known as the most common way to raise capital for a profitable business. Poonawalla Credit Pvt Ltd understands how even a small amount of money can help you reach your aspired business goals. So what are you waiting for? Apply for Poonawalla Credit Pvt Ltd business loan and get a suitable rate of interest that might help you to run your business without worrying about the capital.

  • Poonawalla Credit Pvt Ltd
  • Business Loan
Loan Amount:₹1L - ₹30L
Interest Rate:15% - 26%
Processing Fee: Up to 2%
Tenure:3 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Poonawalla Credit Pvt Ltd

15% - 26%

Up to 2%

₹1L - ₹30L

Tenure(1 - 3 Years)

Details

Features and Benefits of Poonawalla Credit Pvt Ltd Business Loan

Any bank or financial institution that offers a hassle-free, seamless experience while lending a business loan is undoubtedly the best one. Take Poonawalla Credit Pvt Ltd, for example; you should know that this bank offers a wide range of features that can compel you to opt for a business loan. If you are thinking of expanding the business, a business loan is just the answer for you. Here are some features and benefits of the Poonawalla Credit Pvt Ltd business loan.

  • There is no need for collateral or to pledge to any security when applying for the loan.
  • Poonawalla Credit bank offers attractive interest rates on a business loan.
  • The bank has a flexible repayment tenure period of three years
  • The bank does not levy any hidden charges on the business loan. You can expect complete transparency regarding the fees.
  • The bank offers a paperless and hassle-free application process for the loan. 
  • To enjoy the benefits of low-interest rates, all you need to do is to take over the high-cost loan.

Poonawalla Credit Pvt Ltd Business Loan Overview

If you are into business, you would know that you need to spend money to grow your business. And if you are well-managing other expenses in that business, including capital can be a wise thing to do for its growth. However, getting that much capital can be a real challenge to deal with!

So why not consider taking a Business loan? After all, it is known as the most common way to raise capital for a profitable business. Poonawalla Credit Pvt Ltd understands how even a small amount of money can help you reach your aspired business goals. So what are you waiting for? Apply for Poonawalla Credit Pvt Ltd business loan and get a suitable rate of interest that might help you to run your business without worrying about the capital.

Eligibility Criteria for the Poonawalla Credit Pvt Ltd Business Loan

You need to be eligible enough to get a business loan. For instance, Poonawalla Credit Pvt Ltd business loan eligibility goes like this.

  • The applicant's minimum age needs to be twenty-two years, and the maximum age should be sixty-seven years. 
  • The annual business turnover needs to be at least forty lakh if you want to apply for a business loan.
  • Your business should be in existence for at least thirty-six months.

Poonawalla Credit Pvt Ltd Business Loan Fees and Charges

The applicable charges on a business loan are the essential factor you need to consider while borrowing. When you unknowingly pay high fees or a high rate of interest, it might increase your debt. So before applying for a business loan, you need to know all of the fees and charges regarding the business loan.

  • Poonawalla Credit bank offers a one-time processing fee of 2%, but this is only applicable only after the bank disburses the loan amount. Therefore, prepayment in a business loan is one of the most innovative ways to keep costs low.
  • The minimal amount of prepayment is 5% of the outstanding principal with additional tax charges.

Poonawalla Credit Pvt Ltd Business Loan Interest Rate

If you want to get leverage, a business loan can help you manage the business's financial part. At that point, the rate of interest becomes one of the essential parts. However, a perfect business loan with a meagre rate of interest can be very hard to find. Poonawalla Credit Pvt Ltd offers business loans with a lucrative rate of interest starting from 15% to 26%. On the other hand, you can also avail of a loan of up to thirty lakhs with a maximum tenure period of three years.

Factors affecting Poonawalla Credit Pvt Ltd Business Loan

As the interest rate is considered as the most attractive part of any loan, you need to keep in mind that there are several factors that can affect the rates of interest. So picking up the best one becomes essential. 

These are the factors affecting Poonawalla Credit Pvt Ltd business loan interest rate:

  1. Annual Turnover

Your business' annual turnover may affect the rate of interest. If the annual turnover of your business is high, the bank will offer a low rate of interest. But if the turnover turns out to be poor or not up to that mark, the bank can charge you with higher interest rates.

  1. Experience in your Business

The bank counts experience in business while offering a reasonable rate of interest. For example, if you have a well-established business that is more likely to be a secured one, the bank might end up providing you with a lower rate of interest. At the same time, you need to remember that banks generally charge a higher rate of interest for set-up businesses because of non-payment opportunities. Thus, the business experience can significantly affect deciding the rate of interest.

  1. Business Nature

The nature of your business is the first and foremost factor that affects the rate of interest. Only your business nature can tell what kind of business you are involved in. If that stands out positive, the bank will offer you a lower rate of interest because while deciding the rate of interest in the business loan, the bank thoroughly examines the previous nature of business, whether it is making profit or loss.

  1. Brief History of Repayment

Another prime factor that can affect the rate of interest in your business loan is your repayment history. If your repayment track turns out to be good, the bank might end up offering you with a low rate of interest. Even when your credit score is good, but the history of repayment is bad, the lender bank will charge the higher rate of interest.

Poonawalla Credit Pvt Ltd Business Loan Customer Care Number

Need advice regarding business loans? Here is the customer care number +91 8822 200 200. Call anytime to know more about Poonawalla Credit Pvt Ltd business loan requirements.

Documents Required for Poonawalla Credit Pvt Ltd Business Loan

Documents play an essential role while choosing any loan from a bank. These documents are the proof of your identity. Below mentioned are the documents required for the Poonawalla Credit Pvt Ltd business loan

  • KYC documents like pan card, Voter ID, and Aadhar card.
  • Documents that show monthly or annual income amount
  • Proof of GST returns
  • Last two years' income tax return amount
  • Bank statement 
  • Certificate of your business existence
 

And if you are applying online for business loan, you must fill the Poonawalla Credit Pvt Ltd business loan online application first.

FAQs

From refinancing to reducing your interest, we have the answers right here.

How to apply for Poonawalla Credit Pvt Ltd business loan?

You can simply visit the bank and ask the executives to help you with the loan. 

What is loan foreclosure in the case of a business loan?

Loan foreclosure is when you pay for your previous loan in a single payment rather than multiple EMIs.

Who is eligible to apply for a Poonawalla Credit Pvt Ltd business loan?

Partnership firms, sole proprietors, and self-employed persons can apply for a loan.

Does Poonawalla Credit Pvt Ltd offers a business loan at the best rate?

Yes. Poonawalla Credit Pvt Ltd offers business loans at an affordable interest rate of 26%.

What are the KYC documents I need to submit while applying for the loan?

To apply for the loan, you need to submit an Aadhar card, pan card, Voter ID, Driving Licence etc.

How much loan amount can I draw from Poonawalla Credit Pvt Ltd for a business loan?

An individual can avail up to ten lakhs for a business loan from this bank.

What is the final tenure period for repaying the loan provided by Poonawalla Credit Pvt Ltd?

The maximum tenure period for repayment is three years.

What other loans does Poonawalla Credit Pvt Ltd offer?

Besides the business loan Poonawalla Credit Pvt Ltd also provides personal loans and professional loans to its customers. 

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