Emerging Market Business Loan FAQsWho can avail of Emerging Markets Business Loans?
- Self-employed Individuals in the age group of 21 to 65 years (at the end of the loan tenure).
- Partnership Firms, LLPs & Private Ltd. Companies & closely associated public limited companies
Upto INR 300 LacsWhat are the tenure options?
Business loans range from a minimum of 5 years up to a maximum of 15 years.How long will it take to process the loan?
Loans are processed within 7 working days of completing the documentation.Do I need a guarantor?
Guarantor is mandatory for all the casesDo I have the option of pre-paying the entire loan amount?
Yes. One can pre-pay the loan at any time after 6 months of availing of the loan. Foreclosure charges would be applicable.How do I repay the loan?
You can make part pre-payments of a minimum amount of Rs 50,000 after 6 months from the date of first disbursement of the loan. This payment can be made only once in a financial year subject to a maximum of 25% of the balance outstanding against your loan amount at the start of the financial year.How do I repay the loan?
Electronic Clearing System (ECS)What are the stages involved in availing a loan?
The stages involved are:
- Sanctioning of the loan
Tier 2 and 3 cities, Namely 40 Hubs and 200 Spokes across 13 states