Products
Investing
Resources
Support
DCB Bank is a new-generation private sector banking institution with a vast network of 356 branches (as of 30th September 2021) in India. This SCB (scheduled commercial bank) is under the regulation of the RBI (Reserve Bank of India) and is professionally governed and managed.
Get familiar with the DCB Bank business loan eligibility criteria to avail of a business loan with utmost ease.
| Particulars | Charges |
| Loan Processing Fee (Non-refundable) | Up to 2% of the principal loan amount, which is subject to INR 10,000 at minimum. The loan processing fee is payable at the time of submission of the loan application. |
| Re-Pricing Charges | Up to 1% of the outstanding loan amount. Generally at a minimum of INR 5,000 |
| Penal Interest | 3% per month |
| Cheque or ECS Swap Charge | INR 500 per event |
| Retrieval of Property Documents | INR 500 per event |
| Cheque Bounce Charge | INR 750 per event |
| Amortisation Schedule | INR 100 per schedule |
| Account Statement | INR 100 per statement |
| Foreclosure Statement | INR 100 per statement |
| Duplicate copy of No Objection Certificate or No Dues Certificate | INR 100 |
| Revalidation of NOC | INR 100 per NOC |
| Provisional Income Tax Certificate | Not Applicable |
| Final Income Tax Certificate | Not Applicable |
| Interest Certificate | Not Applicable |
| Change of Address | Not Applicable |
| Copy of the Loan Agreement | INR 500 per event |
| No Objection Certificate and No Dues Certificate | Not Applicable |
Here’s the list of documents required to apply for a DCB bank business loan:
| Registration certificate | Income tax returns |
| The authentic licence issued by the officials as per the Shops and Establishment Act | Certificate of Importer – Exporter Code, etc. |
| Registration certificate | Identification information as per Section 15 regarding the power of attorney |
| Copy of partnership deed |
| Incorporation certificate | Board resolution with authorised signatory for signing on behalf of the venture for the different loan procedure |
| MOA & AOA | Identification information based upon Section 15 associated with the power of attorney |
DCB Bank offers competitive business loan interest rates ranging from 9% to 16%. To determine the applicable interest rate, get in touch with the bank executives, either through their website or by making an in-person visit to the nearest DCB Bank branch.
To get approval for a DCB Bank Business Loan with utmost ease, you will have to make sure that your following attributes are on point:
Positive and profitable business organisations get relatively easy approval for a DCB Bank Business Loan at reduced interest rates. In the case of firms that are blacklisted or have bad reviews, a higher interest rate is levied, or the application is rejected.
CIBIL score or credit report accounts as a crucial factor in determining at what interest rate an applicant will get loan approval. The loan provider scrutinises the applicant’s credibility by understanding the repayment history and credit score.
Having a good credit score somewhere around 700 or above allows you to access business loans at lower interest rates. On the other hand, if you have a bad credit score, i.e. lower than 600, the possibilities are your loan application will be rejected or approved at higher interest rates.
Businesses with greater stability are more likely to be approved for loans with lower interest rates. The offerable interest rate for a business loan is calculated by DCB Bank based on the applicant’s entire business experience. Individuals with a solid business record and a long-running venture are more likely to get business loans at lower interest rates. Defaulted financial records will result in a loan application being denied.
The most important factor that influences the proposed business loan interest rate is the venture’s annual turnover. With a strong turnover and income, your business becomes more credible, resulting in loan approvals at reduced interest rates. Ventures with little turnover, on the other hand, maybe approved but at higher interest rates, leading to greater EMI amounts.
It is always recommended to maintain a good relationship with the bank executives. When you have a good reputation in your bank, getting loan approval at a lower interest rate becomes an easy deal. You get the chance to negotiate the applicable interest rates to unlock a better deal.
Repayment history impacts your overall credibility and credit score. It’s advisable to always pay your debts and associated payments on time to eliminate negative remarks from your repayment history. This will augment your loan approval chances and accessibility to lower interest rates.
The DCB Bank Business Loan Calculator helps you estimate your EMIs instantly. All you have to do is enter your business loan amount, interest rate and tenure. You will get detailed results on how much you will have to pay each month (combining both interest and principal amount) effortlessly.
Calculating your EMIs is an intrinsic step before applying for any loan. And just as you can calculate your equated monthly instalments online, you can do the same manually. However, it will be effortful and time-intensive. Use the below-mentioned formula to calculate your business loan.
EMI = P x R x (1+R)N/ (1+R) N – 1
Here,
| Lender | Interest Rates (% per annum) |
| ICICI Bank | 18% |
| Lending kart Finance | 18% |
| RBL Bank | 19% |
| IDFC First Bank | 20% |
| NeoGrowth Finance | 18% |
| HDB Financial Services Ltd. | 22% |
If you want to get in touch with the bank executive to get more information about DCB Bank Business Loan specific to your case, you can call on the toll-free DCB bank customer care number, i.e. 1800 209 5363. The executives are readily available to redress your queries on weekdays.
Yes, DCB Bank allows loan applicants to make prepayments and part-prepayments after 12 months of loan repayment tenure. But, you may have to pay the associated charges.
If you are willing to speed up your DCB Bank Business Loan Approval, be prepared with the loan documents beforehand. Additionally, make sure that you adhere to the eligibility criteria to avoid rejections. Count on online loan applications through their official website for faster processing and approval.
When a loan borrower decides to pay off the debt before the completion of loan repayment tenure, it is termed loan foreclosure.
DCB Bank offers competitive business loan interest rates varying from 9% to 16%. However, the offered interest rate will be determined based on certain factors, including business stability, credit score and financial stability.
To avail of a DCB Bank Business Loan with utmost ease, you will have to prepare a set of documents beforehand. Be ready with the hard copies as well as soft copies of documents related to residence proof, identity proof, business proof and business documents to prove business stability.
Yes, DCB Bank takes the CIBIL score into consideration for determining an applicant's creditworthiness.
DCB Bank offers business loans ranging from INR 1 lakh to INR 40 lakhs.