Overview
Want a Business Loan in Bihar? You have landed on the right page! Apply for a Business Loan in Bihar with Poonawalla Fincorp and invest in expansion or even renovation to fit the current economic and cultural scenario. Avail of this collateral-free loan with minimal documentation and zero hidden charges. What are you waiting for? Apply now!
Business Loan in Bihar EMI Calculator
Use the Business Loan EMI Calculator to compute EMI outgo. Enter the loan amount, interest rate and tenure and the calculator will instantly display the EMI amount.
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EMI Amount = *
Interest Rates and Other Charges
Here is a detailed overview of the interest rate and other charges:
| Types of Fee | Applicable Charges |
| Business Loan Interest Rates | 15% p.a onwards. |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% plus applicable taxes |
| Lowest EMI per month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 - 48 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Interest | 2% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Business Loan in Bihar Eligibility Criteria and Required Documents
Business Loan in Bihar Eligibility Criteria
Here are the eligibility criteria for Business Loan in Bihar:
- Age: Applicant must be between 24 to 65 years.
- Business Vintage: The business must have been operational for at least 2 years.
- Financial Performance: The business must have a minimum annual turnover of ₹6 Lakh.
Note: The above-mentioned Business Loan eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Documents Required for a Business Loan in Bihar
Here are the necessary documents required:
| Document Category | Business Loan in Bihar Documents |
| KYC Documents |
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| Financial Documents | Bank account statement for last 6 months |
| Business Address Proof | Utility bills/ Rent agreement |
Note: The above-mentioned Business Loan documents list is indicative. Additional documents may be required during loan processing.
Features and Benefits of a Business Loan in Bihar
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High Loan Amount
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Collateral-Free
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Competitive Interest Rates
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Minimal Documentation
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Flexible Loan Tenure
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Online Application Process
- Higher Loan Amount: Get up to ₹50 Lakh.
- Collateral-Free: Avail the loan without pledging any collateral.
- Competitive Interest rates: Get interest starting at 15% p.a.
- Minimal Documentation: Provide business address proof, KYC and financial documents.
- Flexible Loan Tenure: Choose repayment tenure of up to 48 months.
- Online Application Process: Apply online from our official website.
How to Apply for a Business Loan in Bihar
Apply for a Business Loan in Bihar in 3 simple steps:
- Step 1: Click on the ‘Apply Now’.
- Step 2: Fill out the application form.
- Step 3: Upload all necessary documents.
Once your loan request is approved, the funds will be disbursed instantly.
Frequently Asked Questions
No, you are not necessarily required to visit the physical branch of Poonawalla Fincorp to apply for the Business Loan. You can simply apply for the loan in a few easy steps from the convenience of your home.
No, you do not have to pledge collateral to apply for a Business Loan from Poonawalla Fincorp. You just need to meet the basic eligibility criteria and possess the relevant documents.
You can choose between a loan repayment tenure, ranging from 6 to 48 months based your repayment capability.
*Terms & Conditions Apply
