FAQ
Most frequent questions and answers
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest.
To avail a business loan, an applicant needs to provide the following documents as per the lender’s requirements.
- Identity Proof: Driving License / PAN Card / Passport / Voters ID Card / Aadhaar Card.
- Address Proof: Ration Card /Telephone Bill / Electricity Bill / Passport / Trade license / Lease agreement / Sales Tax certificate.
- Income Proof: Bank Statement of Last 2 Years.
- Financial Documents: Last 2 Years ITR along with computation of Balance Sheet, income & Profit & Loss a/c for the last 2 yrs.
- Proof of Business Continuation
- Business Ownership[ Proof: Other Mandatory Documents such as Sole Proprietorship Declaration, Certified true copy of Memorandum & Articles of Association
- Last 3 years audited financials.
- and do remember that a CIBIL score above 700 is required.
It is a matter of your location, it could from 3 to up to 5 business days to disbursement.
Simply put, it is an unsecured loan taken by salaried individuals from a bank or a non-banking financial company (NBFC) to meet their personal needs.
To avail a personal loan, an applicant needs to provide the following documents as per the lender’s requirements.
- Identity Proof: Driving License / PAN Card / Passport / Voters ID Card / Aadhaar Card.
- Address Proof: Ration Card /Telephone Bill / Electricity Bill / Passport / Trade license / Lease agreement / Sales Tax certificate.
- Income Proof: Bank Statement of Last 6 months.
- Financial Documents: Last 3 months salary slip with 2 Years ITR along with form 16 (if applicable).
- Proof of Job Continuation : Office ID card.
- Job Details Proof: Joining Letter
- and do remember that a CIBIL score above 700 is required.
No, there is no fee even after you get the loan. This Service is totally free of Cost.