IDBI Bank Business Loan in Purnea, Bihar

Avyud Finance offer tailor made Business Loan through IDBI Bank for its corporate and other customer segments. Their offerings in the business loan category are unique and have been curated keeping different businesses at the focal point.

EMI Calculator

Loan Amount

₹

500000

No. of Months

months

Rate of Interest

Monthly EMI

₹

₹ 32,124.56

Total Interest

₹

10,622.78

Principal Amount

₹

500000

Payable Amount

₹

160,622.78

Pay No.	Begining Balance	EMI	Principal	Interest	Ending Balance
1	150000.00	32124.56	28637.06	3487.50	121362.94
2	121362.94	32124.56	29302.87	2821.69	92060.07
3	92060.07	32124.56	29984.16	2140.40	62075.91
4	62075.91	32124.56	30681.30	1443.26	31394.61
5	31394.61	32124.56	31394.64	729.92	-0.03

IDBI Bank Business Loan Important Information

Complete Banking Solutions at one place

Attractive Rate of Interest

Hassle Free Process

Faster Credit Delivery

Cash Credit / Overdraft - To meet Working Capital requirements.

Term Loan - To meet CAPEX including purchase of equipment/furniture or any such business requirements.

Eligibility Criteria for IDBI Bank Business Loan

Individuals/MSMEs engaged in non-farm entrepreneurial activities (manufacturing, trading and service enterprises including professionals rendering services) across the country (including rural, semi-urban, urban and metro centres).

Documents Required for IDBI Bank Business Loan

Completely Filled Business Loan Application Form

PAN Card - For Individual / Partnership Firm / Company

Identity Proof - Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)

Address Proof - Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)

Ownership proof of either residence or office either in the name of applicant or jointly with family members.

Business Continuity Proof - Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)

Fees & Charges for IDBI Bank Business Loan

Processing Charges: Nil for loan upto Rs. 5 lakh. Up to 0.50% for others.

Minimum – None.

Maximum – Rs. 10 lakh

FAQ for IDBI Bank Business Loan

Why take a business loan from IDBI Bank?

IDBI Bank is one of the largest Public Sector Bank sector banks in the country that provides lowest business loans starting at 12.25%. The bank also charges a low processing fee starting from 1.00%. Along with that, the bank also offers special business loan schemes such as Sulabh Vyapar Business, Mudra Loan & etc.

Does IDBI provide startup loans for new businesses?

Yes, you can apply for a startup loan under Mudra Yojana from IDBI Bank.

Has IDBI Bank reduced the business loan interest rate?

IDBI Bankhas reduced the lowest interest on business loan as effective from 31 Mar, 2021. Presently, IDBI Bank offers the business loan starting at 12.25%, which is a decrease of 0.75% from the previous rates of 12.25%. Earlier, IDBI Bank changed its gold loan rate on 09 04, 2020.

What is the minimum interest rate for an SME loan?

The interest rate offered by IDBI bank varies from scheme to scheme and depends on applicant’s profile and business requirements.

How much business loan amount can I borrow from IDBI Bank?

IDBI Bank offers you business loans for loan amounts ranging from ₹ 50,000 to a maximum amount of ₹ 5 Lakh. Loan amount eligibility in IDBI further depends upon your income, and repayment capability.

Note: This content is taken from IDBI Bank website

Purpose for Business Loan

INTERESTED?

WE’LL CALL YOU RIGHT BACK