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Get business loans that are best matched to your credit profile
RBL Bank is one of India’s older private commercial banks and was incorporated in 1943. It offers an array of specialized services and banking products in the wholesale and retail sector. It has a network of 197 branches across India.
Is your business facing setbacks due to restricted cash flow? Do you need some financial support for expanding the business, investing in office or factory space, buying equipment or machinery or expanding inventory? Almost all business owners know the pain of getting a business loan sanctioned. Are you one of those facing issues in getting your business loan approved? A Business Loan from RBL might put you on track. Read on to know more about RBL Bank Business Loan offers.
There are various features that makes taking a business loan from RBL beneficial:
You are eligible for a Business Loan from RBL if you are a:
You must be in a profitable business for the past 3 years.
You should be a minimum 27 years of age at the time of RBL Business Loan application and maximum 65 years at the time of maturity of the loan.
You must have a minimum experience of 5 years in the current line of business, with at least 3 years of profitable business establishment & operation in the same city.
For self-employed professionals, a minimum of 4 years of post-qualification experience is necessary.
Minimum business turnover should be Rs. 1 crore and for Professional / Service Sector, applicant’s gross receipts should be at least Rs. 60 lakhs.
The applicant should own either residence or office in his name or jointly with family members or reside in a residence owned by an immediate family member.
RBL offers attractive interest rates on its business loans. It depends on a host of eligibility criteria which might include but is not limited to - your credit history, current outstanding loans / EMIs, and other factors that reflect your financial capability and behavior. It is best to contact the bank directly for the most up to date interest rates.
The documentation required is simple and straightforward. Following are some of the documents which will be required:
For Self-Employed Individuals / Sole Proprietorships
For Self-Employed Professionals
For Partnership Firms / Private Limited Companies
What is the minimum and maximum amount that I can get for my business?
You can get anywhere from Rs. 10 lakhs up to Rs. 35 lakhs.
How much time does it take to process my application?
It depends on the completeness of the documents furnished. Once everything is found to be order, the processing could take between two to four weeks.
What is the available tenures of the loan?
RBL offers flexible tenure options which can range from between 12 months to 36 months.
On what basis, will my loan limit be determined?
Your loan amount will be decided as per your business revenue.
Is there any processing fee included?
Yes, a nominal processing fee would be levied which is communicated at the time of application for the loan.
The simplified processing formalities facilitates loan borrowings from RBL with ease. It offers an array of finance products to suit every need and budget. The loan is disbursed as soon as you are found to be creditworthy and your net worth is satisfactory.
You can get a business loan from RBL in the following ways:
Need help? If you think you need help with your RBL Business Loan Application and advice on loan eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.
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