Business Loans in Chennai

Business Loans in Chennai: Chennai is an industrial hub with a large variety of industrial set-up in and around the city. With large variety in the business opportunities banks have scaled up to provide financial assistance for all kinds of business set-up through various business loan scheme and products.

Business Loan Scheme and Products come with a variety of feature depending on the business you are trying to run some of which are enlisted below:

• Business loans can be availed for starting your business set-up of any kind as well as for the purpose of expansion of your existing business.
• Loan amount upto Rs.75 Lakhs can be availed to start your business at a rate of interest ranging between 18% to 22 % p.a. for a period of maximum 5 years depending on your loan structure and eligibility.
• You can avail your business loans in Chennai without providing any guarantor or collateral.
• You can choose to make a part prepayment with adding on an additional cost towards your loan.
• You can also choose to make the entire payment without bearing any fore-closure charges towards your loan.

Check Your Eligibility

You are considered eligible for business loans in Chennai if you meet the following criteria

• You are a - Limited or Private Limited Organization
• You are a - Proprietorship or Partnership Firm
• You are a - Self Employed Professional/ Chartered Accountant

Customer profile that can avail Business Loan products in Chennai are enlisted as under

☞List of Self Employed Professionals (SEP) who have been practicing their profession for a substantial amount of time including
• Allopathic doctors
• Chartered Accountants
• Company Secretaries
• Architects
☞Self Employed Non Professionals (SENP) include
• Traders
• Manufacturers
☞Entities
• Partnerships
• Limited Liability Partnership
• Private Limited
• Closely held Limited companies.

Documents required for availing Business Loans in Chennai

• A duly filled application form
• You photograph along with your Co-Applicant’s photograph.
• Income Details duly audited by CA which includes: IT returns, Balance sheet & P/L account statement for the last 2 years along with Annexure, Form 16 A
• KYC documents of yourself and your co-applicant
• Bank account statements for the last 3 months
• Business vintage for 5 years
• Highest Qualification obtained in case you are a professional applicant.
• Business proof: Certificate of practice

How to apply for business loans in Chennai

• You can now avail business loan at your doorstep by simply signing up on Letzbank
• Letzbank is an online portal that simplifies your search for business loans by displaying on its website comparative business loans offers available in your city on a single window.
• All you need to do is to pick and choose from various business loan options available on the portal and fill in a simple application format.
• After applying online out customer care with get back to you for further assistance and facilitating your loan.
• Applying online will help you get away with additional Service Fee applicable on your loan, for you to enjoy our services absolutely free of cost.

Apply for Business loans in Chennai, at letzbank