Overview
Jharkhand’s MSME (Micro, Small, and Medium Enterprises) sector has grown exponentially over the past few years. If you are an MSME owner willing to grow or expand your existing business, opt for a Business Loan in Jharkhand with Poonawalla Fincorp. Avail up to Rs. 50 Lakh with longer repayment tenure, flexible repayment tenure, and quick disbursal. Apply now!
Business Loan in Jharkhand EMI Calculator
A Business Loan EMI calculator is a useful online tool for planning the EMI amount you need to pay out each month. Enter the loan amount, interest rate, and tenure of the loan to know the exact EMI amount.
-
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 | ₹5 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 | 5% on principle outstanding plus applicable taxes |
| 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 Jharkhand Eligibility Criteria and Required Documents
Business Loan in Jharkhand Eligibility Criteria
Here are the eligibility criteria for Business Loan in Jharkhand:
- 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 Business Loan in Jharkhand
Here are the necessary documents required:
| Document Category | Business Loan in Jharkhand Documents |
| KYC Documents |
|
| Financial Documents | Bank account statement for the 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 Business Loan in Jharkhand
-
Higher Loan Amount
-
Collateral-Free
-
Competitive Interest rates
-
Minimal Documentation
-
Flexible Loan Tenure
-
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 on our official website.
How to Apply for Business Loan in Jharkhand
Apply for a Business Loan in Jharkhand in 3 simple steps:
- Step 1: Click on ‘Apply now’.
- Step 2: Provide the annual turnover of your business and other details.
- Step 3: The loan application will proceed further for thorough verification and assessment.
On successful verification, the amount will be disbursed to your bank account.
Frequently Asked Questions
No, Poonawalla Fincorp's Business Loan in Jharkhand is collateral-free, eliminating the need to pledge any assets for loan approval.
To calculate the EMI amount, you can use our EMI calculator. You need to enter the interest rate; loan tenure and loan amount and the online calculator will display the EMI amount instantly.
Other than the interest rate, Poonawalla Fincorp charges a processing fee to apply for a Business Loan in Jharkhand.
A Business Loan usually gets approved within a few minutes, provided you have submitted all necessary documents correctly and you meet its required eligibility criteria.
*Terms & Conditions Apply
