Range of Interest Rate
10% Onwards
Processing Fee Range
Upto 1%
Loan Amount
5 Lakh – 50 Lakh
Range of Loan Tenure
1-4 Years
Key Salient Features
- Low attractive interest rates available
- Flexible loan repayment available
Documentation
- KYC– Aadhar Card and PAN Cardd
- Financial– 6 Month bank statement, latest Form 26AS & 3 years ITR
Trivia
- The total number of branches of SBI Bank branches in India is 22,219
- Average loan approval time is about 2-9 weeks
USP’s
Doorstep Service
Dedicated Relationship Manager
Minimum Documentation
Fastest Sanction Process
Fee and Charges Details
- 1% to a maximum of Rs 10 lakh for asset based loans and 0.40% for smart score business loan
Disclaimer
- All intellectual property including trademarks, logos belong to the owner
| Particulars | Self-Employed |
|---|---|
| Age | 25 to 65 years |
| Prepayment charges/Foreclosure | NIL |
FAQs
Typically, when you apply for an SBI Business Loan it is essential to take the following steps given below:
- Visit your nearest branch of SBI to fill and submit the business loan application form
- Once your application form is approved by this bank you will need to complete with your KYC and financial documentations
- The loan processing is initiated which includes legal and technical verification
- A sanction letter will be submitted by HDFC Bank, which will include a few important details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions
- Eventually, a business loan disbursement request is raised, after which HDFC will issue a cheque
There are a few documents that you need to submit while applying for a HDFC Business Loan. They are given in the table below:
KYC Documents
KYC Documents
- The previous three months’ salary slips and
the Latest Form-16 - Latest 2 years Form 16
- IT Returns for the last three years
-
Business Profile of the Applicant
Latest 3 years ITR with Computation of Income - Balance Sheet, Profit, and Loss Account, and respective schedules
- GST Registration Certificate, GSTR-3B Returns of
latest 1 Year, and GSTR-3B Returns of latest 1 Year
Company Udhyam certificate
Property Documents
One of the major reasons why you need to select a SBI Bank Business Loan is that they provide you with a wide range of business loan types. These are specifically designed to fulfill the requirements of entrepreneurs and businesses across sectors.
On completing a SBI Bank Business Loan online form and submitting the necessary documents, this popular national financial banking institute will take about anywhere between 2 to 9 weeks to sanction your business loan to be removed.
Usually, to secure a SBI Bank Business Loan you need to have a minimum CIBIL score in the range of 700 above.
The minimum business loan amount sanctioned by SBI Rs 5 Lakh and maximum loan amount is Rs 50 lakh.
It is to help you find your EMI for a SBI Bank Business Loan you will apply at the lowest minimum interest rate at 10%, given below a table containing loan amount and tenure.
Table of SBI Bank Loan EMI @10% interest rate for different loan amounts and tenures:
| Amount | ||||
|---|---|---|---|---|
| Tenure | 10 lacs | 25 lacs | 40 lacs | 50 lacs |
| 2 Years | Rs 46,145 | Rs 1,15,362 | Rs 1,84,580 | Rs 2,30,725 |
| 3 Years | Rs 32,267 | Rs 80,668 | Rs 1,29,069 | Rs 1,61,336 |
| 5 Years | Rs 21,247 | Rs 53,118 | Rs 84,988 | Rs 1,06,235 |
In case of Business Loan which is an unsecured loan, the interest rates remains fixed during the entire tenure of the loan period.
When you possess ITR documents for three financial years it will increase your chances of obtaining a SBI Business loan. However, you can also get a business loan despite not having three-year ITR returns. It is only possible though if you are looking for a small loan and you have a good CIBIL score to prove to your lender that you are ‘Creditworthy’. It however all depends on the policies of the lender.
After getting sanctioned SBI business loan gets disbursed between 2-3 working days.
A few additional details of the SBI Business Loan that you need to know are given below:
-
Types of SBI Bank Business Loan:
There are several types of SBI Bank Business Loans given below. However, a few important types are given below:
- Simplified Small Business Loan
- Asset Backed Business Loan
- Asset Backed Business Loan- Commercial Real Estate
- Surya Shakti Business Loan
- SBI Corporate Loan
- SBI Business Loan under contactless lending Platform
- SBI PM Mudra Yojana Loan
- SBI Business Loan for Finance
- SBI Business Loan for Warehouse Receipt
- SBI SME Gold Loan
- SBI SME Car Loan
- SBI Healthcare Business Loan
- SBI Lease Rental Discounting Loan
-
Benefits of applying for a SBI Bank Business Loan:
There are a few benefits that you can derive by securing an HDFC Bank Business Loan:
- Provides for a variety of SBI business loan types
- Offers business loans free for collateral
- Provision of specifically designed loans for business women
- Presents minimum interest rate
EMI Calculator
Loan Amount
₹
Rate of Interest
%
Loan Tenure (Years)
Years
Monthly EMI
₹ 21,617
Principal Amount
₹ 25,000,000
Interest Amount
₹ 23,000,000
Total Amount Payble
₹ 47,000,000
Interest Amount
Principal Amount
Apply for Business Loan
4.9
434 Google Reviews
4.8
860 Justdial Rating
Loan Bazaar
#1 Choice
of Smart
Customers
4.9
434 Google Reviews
4.8
860 Justdial Rating
5/5
Hi, The new feature on Loan Bazaar Website, providing the facility to view the Home Loan Amortization Schedule is really wonderful. This will actually reduce paper wastage, telephone calls to be made and the waiting time for receiving the revert from Banker. It is quite an innovative move. Keep it up! Happy Diwali to one and all!
Shivam Sharma
5/5
Was struggling to get loan for my home from last 3 months, suddenly one day I found Loan Bazaar on google who is one of the most well known DSA for home loan. They offered me doorstep service and with the limited paper work, they santioned my loan within 7 days. Thanks to Loan Bazaar.
Aruna Kate
5/5
I work for an MNC financial services company in the customer service department and I must say that Loan Bazaar has one of the most user friendly website and EMI Calculator. Well done! In an endeavour to automate, My first visit to the website has been a pleasurable one!
Yash Sharma
5/5
Loan Bazaar Team’s commitment shown on the job are enthusing. I had opted for a switch over on HL recently and been able to get best possible attention and faster clearance over my request. Kudos Loan Bazaar…
Babu Patil
5/5
A very helpful and a very patient team . My special thanks to Mr.Jitendra Sharma and Ms.Kanchan for their support . Dont worry about loan just contact this team they have solution for all .Once again thank you all
Dr.Abhijeet Kumar
5/5
I recommended their services to a friend of mine, and the services given were excellent. Very professional team, with polite and helpful approach. Highly recommended
Jayesh Shah
