Union Bank of India Business Loan in Purnea, Bihar

Avyud Finance supports micro, small and medium enterprises through Union Bank of India’s wide array of business loan schemes. Union bank business loan interest rate depends on the loan scheme, credit profile of the applicant, and other such factors.

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

Union Bank of India Business Loan Important Information

To finance for innovation, development, deployment or commercialization of new product, processes or services driven by technology or intellectual property as per Start-up India Scheme.

Eligibility Criteria for Union Bank of India Business Loan

The Unit must be eligible and certified as “Start-up” by the concerned Government Authority as per Start-up India scheme launched by Government of India (GoI).

Documents Required for Union Bank of India Business Loan

Duly filled in Application form

Passport-sized photographs

Business Plan

ID proof like Voter ID card, Driving License, Aadhaar Card, PAN Card, etc.

Address proof like Aadhaar Card, Passport, Driving License, etc.

Fees & Charges for Union Bank of India Business Loan

Processing Charges: Nil

Interest rate: Concession over applicable rate of interest

Minimum: Rs.0.10crore

Maximum: Rs.5.00crore

FAQ for Union Bank of India Business Loan

What is the basis for fixing the pricing of credit facilities?

The pricing of the credit facilities will be based on the credit rating of the borrower carried out by our bank.

How is the credit rating decided? What are the key features?

There are various parameters that will be considered while rating a borrower. The rating model consists of various parameters like Rating of the Borrower (financial, cash flow, management, market risk parameters), Rating of the facility and Business aspects. Based on the performance of the company, marks will be allotted against each parameter and the rating will be decided.

Who can avail loan under Union High Pride Scheme?

Companies / Trading Firms / Business Enterprises / Service units with investment in plant & machinery from Rs.1.00 crore to Rs.10 crore requiring credit facilities above Rs.5.00 crores and upto Rs.25.00 crores are eligible under the scheme subject to the internal credit rating C4 and above.

What is the margin required for financing under the scheme?

The minimum margin stipulated for Working capital & Term Loan facilities under the scheme is 20%.

What will be the repayment period of the term loan?

The repayment of the term loan should not exceed 7 (seven) years including the moratorium period.

Note: This content is taken from Union Bank of India website

Purpose for Business Loan

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