Ujjivan Small Finance Bank Business Loan
If you are into business then you would know that business needs funds over time to maintain the consistency of the cash flow. Substantial working capital is must to make sure that the business activities and profitability go smoothly. Even if you are about to buy new equipment, hiring and training the staff, expanding the premises or procuring new inventory, business loan is a desirable financing for all these ventures. Ujjivan Small Finance bank can provide business loans if any businessman applies to get.
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Ujjivan Small Finance Bank Business Loan Overview
If you are into business then you would know that business needs funds over time to maintain the consistency of the cash flow. Substantial working capital is must to make sure that the business activities and profitability go smoothly. Even if you are about to buy new equipment, hiring and training the staff, expanding the premises or procuring new inventory, business loan is a desirable financing for all these ventures. Ujjivan Small Finance bank can provide business loans if any businessman applies to get.
Features and Benefits of Ujjivan Small Finance Bank Business Loan
There are numerous reasons why a person opts for business loans. Business loan has its own benefits. For example,
While you are thinking of expanding your business, Ujjivan Small Finance bank Business loan will manage the working capital, meet the Capital expenditure. If you are renovating offices or the workplace the amount from the loan should do the work. Again if you are about to purchase a car or any commercial vehicle for the business loan will help meeting the expenditure without any hassle.
Now, coming to the features of the Ujjivan Finance bank Business loan; these are:
- Fast approval for the loan without any problem
- business loan for INR 2 crores
- You can get best service while applying for the Ujjivan Finance bank business loan.
- The interest rate is between 14% to 16%
- Minimal time for the repayment is only twelve months.
Eligibility Criteria for the Ujjivan Small Finance Bank Business Loan
To get a business loan the borrower must be eligible. Ujjivan Small Finance bank business loan eligibility Criteria is like this
- At least INR 16, 00,000 of turnover is important for a business
- The turnover is INR 30, 00,000 and above is vital for a trading business.
- Service provider’s business must generate at least INR 14, 00,000 turnover every year.
Ujjivan Small Finance Bank Business Loan Fees and Charges
Apart from the interest rates Ujjivan Finance bank has come up with other charges as well. Therefore, before rushing towards the business loan you need to see other charges related to it
- Documentation fee up to INR 10,000+tax
- Processing charges up to 2.7%+tax
- CERSAI charges 53+tax up to INR 5 lacks of the loan amount
- CERSAI charges 99+tax while the loan amount is more than 6 lakhs
Documents Required for Ujjivan Finance Bank Business Loan
Documents are very crucial while one is taking loan for his/her business. Here is the list of documents required for Ujjivan Finance bank business loan.
- Pan card
- Voter ID card, Driving Licence, Passport or Aadhar Card for identification.
- Three years old statement of the bank transaction
- Photo of the applicants
Fill the Ujjivan Small Finance bank business loan online application.
Ujjivan Small Finance bank Business Loan Rates of Interest
A Business loan gives leverage while managing the financial side of the business. And looking for the best loan at a meagre rate of interest is quite impossible task. However, if people want to apply for Ujjivan Finance bank Business loan he can choose the best of the offers. Here Ujjivan Small Finance bank Business Loan rate of interest are mentioned below
| LAP | 17.01% -18.99% p.a | 3 lacs to 10 lacs | Thirty-six to eighty-four Months |
| Business Loan (Secured) | 17.1% -18.99% p.a | 10 Lacs to 26 Lacs | Thirty-six to one-hundred twenty Months |
| Secured Enterprise Loan | 13.99% -17.01% p.a | 10 lacs to 51 Lacs | Thirty-six to one-hundred twenty Months |
| Business Edge Term Loan | 13.01%-14.99% p.a | 26 Lacs to 3 Crores | Thirty-six to one-hundred twenty Months |
Factors affecting Ujjivan Small Finance Bank Business Loan Interest Rates
Business loan interest rate is a crucial part that every borrower consider while opting for a loan. Interest rates largely hit the loan terms so picking the right loan becomes very important. Thus choosing a rate and getting a vivid picture are very important. These are some business loan deciding factors mentioned below.
Credit score: It is the primary tool that a lender considers before deciding the eligibility of a borrower for a loan. That is why the higher the credit score leads to the lesser interest rates
Type of Business: Sometimes your business choice can be a key factor that affects the interest rate of your business loan. The reason is some business carry higher risk compared to others so the type of business can be a factor affecting the interest rates.
Age of business: A well-established business is more likely to secure lesser interest rates. Many lenders in India prefer offering credit to small businesses which gained the time tested experience in the field these businesses are the bird’s-eye for the banks.
Collaterals: this feature refers to the monetary value holding asset for the business owner. However, not all the borrowers are capable to offer collaterals and thus affecting the interest rates.
How EMI Calculation works for Ujjivan Small Finance Bank Business Loan?
| Loan Amount | ROI | Loan Tenure | EMI |
| Rs. 74,000 | 15.62% | 15 Months | Rs. 5462 |
| Rs. 3,50,000 | 15.75% | 20 Months | Rs. 20011 |
| Rs. 4,87, 000 | 15.75% | 22 Months | Rs. 25176 |
| Rs. 6,79,000 | 15.87% | 28 Months | Rs. 29176 |
| Rs. 8,99, 000 | 16% | 34 Months | Rs. 33058 |
How Ujjivan Small Finance Bank Compares with others Lenders?
| Bank | Ujjivan Small Finance bank | HDFC | SBI |
| Interest Rate | 15.75%-16% | 11.90% -16.30% | 11.20% – 16.30% |
| Loan Amount | 2.00% | 499/- | 2.00% – 3.00% |
| Loan Tenure | 1 Lakh – 9 Lakh | 50,000- 50 Lakh | 5 Lakh – 100 Crores |
| Lowest EMI Per Lakh | 2990/- | 2628/- | 2594/- |
| Part Payment Charges | Not Allowed | Not Allowed | Allowed after 1 months at 3% |
| Eligible age | 25-65 years | 21-65 years | 21-65 years |
Ujjivan Small Finance Bank Business Loan Customer Care Number
If you have any doubts regarding the business loan you can contact the customer care executives on 1800 208 2121 or email in rno.west@ujjivan.com