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If you are the owner of a small business enterprise, requiring immediate funds for your business requirements, such as meeting the working capital and cash flow requirements, purchasing new machinery, expanding your business, and more, you can zero in the Bandhan Bank Business Loan. With a simple online application process, reasonable interest rates and hassle-free documentation, this loan can bolster your financial stability and help you enhance your business productivity. Read on to know the different facets of the Bandhan Bank Small Business Loan.

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Bandhan Bank Business Loan Details

Foremost, you must keep in mind that Bandhan Bank provides different types of short-term collateral-free business loans for small enterprises. These include:

  • Small business loans for working capital requirements or creation of assets.

  • Small business loans as term/demand loans.

Here’s a look at the details of Bandhan Bank small business loans:

Particulars

Details

Loan amount

Rs. 25 Lakhs

Tenure

  • 5 years on term/demand loans.

  • Payable on demand (at bank’s discretion) on working capital loans.

Interest rate

  • 15% to 19.50% per annum (varies based on the borrower’s profile), if linked to MCLR.

  • 12% interest rate per annum, if linked to the bank’s base rate.

Processing fee

  • 1% of the loan amount plus applicable taxes.

Loan margin percentage


  • 25% for term business loans.

  • 25% for working capital loans.

**Disclaimer: Interest rates and charges are subject to market conditions and bank’s discretion.

Bandhan Bank Business Loan Features & Benefits

Competitive rates of interest

This business loan comes with the key feature of affordable interest rates, ranging from 15% to 19.50% per annum.

Hassle-free application process

Instead of making repeated branch visits, you are merely required to fill and submit a simple online application form.

Zero waiting time

The Bandhan Bank Business Loan comes with a zero waiting period. If you fulfill the eligibility conditions, the amount will be disbursed shortly.

Easy eligibility conditions

The Bandhan Bank Business Loan eligibility conditions are simple and easy to meet. Along with age and income requirements, you just have to furnish proof for business ownership. What’s more, multiple c Read Moreategories of applicants, such as self-employed professionals, sole proprietors, partnership firms, companies etc. can apply for this loan. Read Less

Simple documentation

Are you worried about inconvenient and burdensome paperwork and documentation? You need not stress because the Bandhan Bank Business Loan comes with the feature of minimal documentation. You are merely Read More required to submit a few basic documents. Read Less

Zero collateral requirement

You are not required to pledge your business assets to avail of this business loan.

Flexible repayment tenures

You can choose a repayment tenure of your convenience. The Bandhan Bank small business loans have flexible repayment tenures, up to a maximum of 60 months.

Can aid informed decision making

Before applying for the business loan, you can use the Bandhan Bank Business Loan EMI calculator to know your credit obligation in advance. This can help you select the right loan amount and repayment Read Moretenure. Read Less

Bandhan Bank Business Loan Interest Rates

Before availing a Bandhan Bank Business Loan, you should know about the interest rate and associated charges. You can refer to the table given below:

Particulars

Details

Small business loan interest rate

Between 15% and 19.50%

Minimum loan amount

Rs. 1 Lakh

Maximum loan amount

Rs. 25 Lakhs

Maximum loan tenure

5 years

Other compulsory charges

1% of the loan amount along with applicable taxes as processing fees.

**Disclaimer: Interest rates and charges are subject to market conditions and bank’s discretion.

Factors Affecting Bandhan Bank Business Loan Interest Rates

Wondering what determines the Bandhan Bank Business Loan interest rate? Well, there is no one factor and the bank, typically, considers multiple factors before determining the interest rate. Read on to know about the key considerations:

  • Nature of your business: If your business venture is part of a fast-growing sector in the country’s economy, you can be offered competitive rates of interest.

  • Credit score: A good credit score can provide you with business loans at affordable rates of interest. A poor credit score, in contrast, can affect the chances of your business loan’s approval. If a loan is still approved, you can be offered a higher interest rate.

  • Business vintage: If your business is well-established, having experience of several years, the interest rates can be reasonable and competitive.

  • Annual turnover: With a high annual turnover, you can expect not only a high loan amount but also a comparatively lower interest rate.

  • Profitability: A profitable business showing a good track record can help you secure a business loan at affordable rates of interest. On the contrary, a business venture that has repeated losses or is in debt can get you a business loan, only at higher rates of interest.

  • Repayment history: If you have repaid your earlier debts on time, you can secure a business loan at competitive rates of interest.

  • Banking relationship: If you are already an existing customer of the bank, you can be offered reasonable rates of interest on a business loan.

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Bandhan Bank Business Loan Eligibility

To avail a Bandhan Bank’s small business loan, you must fulfill the stipulated eligibility conditions. Here’s a look at the Bandhan Bank Business Loan eligibility criteria:

  • Nationality: Only Indian citizens can apply for this loan.

  • Age: The minimum age to apply for a loan is 23 years. The maximum age should not exceed 60 years i.e., during the maturity of the loan.

  • Types of business owners/entities: Sole proprietors, entrepreneurs, partnership firms, and companies can apply for this loan.

  • Age of business: Business owners, self-employed individuals or entrepreneurs should be engaged in the business venture/enterprise for a minimum of two years. However, even startups can get a business loan at the bank’s discretion.

  • Business performance: The business should exhibit a credible performance for the last two years.

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How to Apply for Bandhan Bank Business Loan

You can apply for a Bandhan Bank Business Loan both offline and online.

  • To complete the application process online, you are required to:

  1. Visit the Bandhan Bank’s official website for business loans. After selecting the option of ‘Apply Now,’ you will be redirected to a page where you have to provide your personal details, such as name, phone number, city, organization name, email id etc. Fill in the details and select the option to ‘Submit.’

  2. A bank representative will shortly contact you to help you complete the documentation process.

  3. Upon successful verification of your form and documents, the loan amount will be disbursed.

  • To apply for a Bandhan Bank Business Loan offline, you can physically visit the nearest branch office. A bank official will then guide you through the application process.

Read More

Documents Required for Bandhan Bank Business Loan

For successful approval of your Bandhan Bank Business Loan, you are required to complete the mandated documentation process. The list of Bandhan Bank Business Loan documents are as follows:

 

1. Application form: Foremost, you have to submit the online/offline form after filling in the personal and professional details.

2. Photographs: You are required to submit three recent passport-sized photographs. For companies and partnership firms, the director and partner also need to submit three passport-sized photographs each.

3. KYC Documents: To complete the compulsory KYC process, you can submit documents, such as Aadhaar card, PAN card, driving license, voter’s id, passport etc.

4. Business ownership: Depending upon the type of your business ownership, you need to submit various documents. Here’s a look:

  • For sole proprietorship: Trade license, GST registration etc.

  • For partnership: Partnership deed.

  • For companies: Memorandum of Association (MoA), Articles of association etc.

5. Income and business proof: Here’s a list of documents that can be submitted as proof of your income:

  • Bank statements for the last 12 months.

  • Recent Income Tax Returns (ITRs).

  • GST returns.

  • CA-certified copy of balance sheet for the last two years.

  • CA-certified copy of profit and loss account for the last two years.

6. Other documents: Before approving your loan application, the bank can ask for additional documents also. These could be regarding the vintage, address or income of your business.

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DISCLAIMER

 The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs on Bandhan Bank Business Loan

How can I calculate interest/EMI on a Bandhan Bank Business Loan?

The interest rate being charged depends upon your individual profile. Factors like the loan amount, credit score, and more, can impact the interest rate being charged. You can use the online Bandhan Bank Business Loan EMI calculator to calculate your EMI instantly.

Can I prepay the outstanding amount and pre-close my loan account?

Yes, Bandhan Bank provides the facility of pre-closure. For pre-closing your loan account the bank doesn’t levy any additional charge.

How can I pay my Bandhan Bank Business Loan EMI?

To pay the EMIs for your Bandhan bank small business loan, you can issue standing instructions to your bank.

How can I get a collateral-free MSME loan from Bandhan Bank?

You can apply online for an MSME business loan from Bandhan Bank. The small business loans from Bandhan bank don’t require pledging of collateral.

How do women entrepreneurs get a business loan from Bandhan Bank?

Women entrepreneurs can make an online application for a Bandhan Bank Business Loan. Subject to fulfilling the eligibility conditions, the loan amount, up to a maximum of Rs. 25 Lakhs, will be disbursed.

How can I get a small/startup business loan from Bandhan Bank?

You can get a small/startup business loan from Bandhan Bank for a loan amount ranging between Rs. 1 Lakh and Rs. 25 lakhs. For availing this loan, you can make an online loan application. Once you fulfil the stipulated conditions and submit the stipulated Bandhan Bank Business Loan documents, the loan amount will be disbursed.

How does your credit score impact your Bandhan Bank loan application?

Credit score plays a key role in getting your loan approved. A good credit score can get you a Bandhan Bank Business Loan at competitive rates of interest. On the contrary, a poor credit score can result in higher interest rates.

How can I get in touch with Bandhan Bank customer care?

You can contact Bandhan Bank customer care on the toll-free number 1800-258-8181. Alternatively, you can send an email to customercare@bandhnabank.com

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