SBI Business Loan in Purnea, Bihar

Punjab National Bank (PNB), one of the oldest public sector banks in India, provides startups, entrepreneurs as well as self-employed professionals with an objective to support the capital requirements of their businesses or to expand business operations. Provides business loans. The business loan interest rate offered by PNB depends on the applicant's profile and business requirements as well as the applicant's financial history, CIBIL score and loan repayment history, etc.

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

SBI Business Loan Important Information

Nature of Facility : Drop-line Overdraft Facility

Target Group: All business units engaged in manufacturing, service activities along with self-employed and professional individuals as well as wholesale/retail trade.

Loan quantum (minimum/maximum) of 10 times the average monthly balance in the current account in the last 12 months subject to:

Minimum: Above Rs. 10 lakh

Maximum: Less than Rs. 25 lakhs.

Margin (%) 10% which will be ensured through stock and receivable statement

Competitive pricing linked to MCLR

Collateral Security: Minimum collateral of 40%

Repayment period up to 60 months

Integrated Fee : Rs. 7500/- (Includes Processing fee, EM fee, Documentation fee, Inspection, Commitment fee and Dispatch fee)

Eligibility Criteria for SBI Business Loan

Existing business in the same locality/region for at least 5 years.

Current account holders (Proprietary, Partnership and Corporate Concerns) with any Bank for at least 2 years.

Minimum average monthly balance of more than Rs 1 lakh in last 12 months with monthly limit balance of Rs 10,00

Association, Club, Society, Trust or Religious/Charitable or Educational Institutions

The borrower should also satisfy the eligibility criteria as per Go/No Go criteria. If any parameter gets a response as 'No', the unit will not be considered eligible under the scheme and no deviation will be allowed.

Documents Required for SBI Business Loan

KYC Documents

Duly filled in application form signed by the customer

Relevant financial documents

Bank account statement of last 6 months

PAN card/Form 60

Business Proof

Fees & Charges for SBI Business Loan

Simplified Small Business Loan

Rs. 7,500

Stand Up India

Rs. 0.20% of loan amount + GST

Warehouse Receipt Finance

Up to Rs. 3 Lakhs

Finance to Food Processing Industry

0.40% of loan amount (maximum Rs. 40

Loans to Business Correspondents

0.50% for loans above Rs. 50,000

SBI OD Product

1% of loan amount

SME Gold Loan

Rs. 500 - Rs. 1,000 + applicable taxes

PMMY

0.50% + applicable tax for Tarun

FAQ for SBI Business Loan

What is the maximum amount I can borrow under SBI Simplified Small Business Loan Scheme?

You can borrow any amount as low as Rs 10 lakh and above and maximum Rs 25 lakh. However, the final amount sanctioned is based on various parameters including your eligibility and is entirely at the discretion of the Bank.

This scheme comes under which category of loan?

SBI Simplified Small Business Loan is a drop-line overdraft facility. It is designed for small and medium sized businesses who want to build their current and fixed assets for business purpose.

How much collateral do I have to pledge against the loan?

You need to pledge a minimum 40% of the loan amount as collateral to get your loan sanctioned.

What is the minimum balance I need to maintain in my account to be eligible for this loan?

You have to maintain a minimum average monthly balance of more than Rs 1 lakh in the last 12 months with a monthly limit balance of Rs 10,000.

Purpose for Business Loan

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