Bank loans are something which creates liability to any person or any business owner. There is a need for credits to get our business optimized and increase the capacity of our business. Therefore, we depend on Bank loans because that is what we found easier. Every business needs credits to run higher on the scale and to top on productions. Today we are talking about the Bank Loans from Bandhan Bank.
Bandhan Bank is one of the famous and leadest bank over the private banking sector in India. We do know that Bandhan bank is capable of providing all the banking services to its customers. However, they are even ready to raise some funds as a part of the loan to improve business availability or to fulfil someone personal need. This depends upon the credit score they have.
Bandhan Bank Personal Loans:
The personal loan which offered by Bandhan bank is from 1 lac to 5 lac and with the repayment tenure of up to 36 months. It is for their individual needs, for example, a wedding or purchasing anything. We do know that bank charges interest annually on loan. Same is applicable on the personal loan from Bandhan Bank. Apart from offering flexible repayment options, they are charging 15% to 15.45% annual interest rate on personal loans.
- Your age must be 21 or above.
- Maximum age is 60.
- You should be a salaried or self-employed person. (If independent the proof is required)
- You should have a relationship with Bandhan bank for more than six months either as an account holder.
- In case, you hold an account with Bandhan bank there should be one debit and credit entry each month.
- You should have valid documents and good credit score to proceed with all formalities.
- You must agree to pay EMI’s on time.
There are no extra charges but yes, for processing your loan bank charges around 1%+ GST. Prepayment charges are nill, but you can only close your loan after six months of EMI. If your EMI or cheque is bounced, then the penalty is 300+GST. There are not any hidden charges.
Bandhan Bank Business Loans:
Businesses need funds to run. Therefore, for their precious customers, Bandhan bank is all set to provide the best business loan with a minimum interest rate of 12%. You can take up to 25 lac of credit from the Bandhan bank by showing your business capability. The tenure of your loan should not be more than 5 Years.
- Age must be 21 or above.
- Must hold a good credit score.
- You must have a currently running business to the show to the bank.
- You must have plans to optimize your business
- You must have valid documents to proceed.
There is only one charge which is for processing loan. The loan processing charges is 1% + GST and any other fees if applicable.
Here we are, We have posted full details about Bandhan Bank personal and business loans. You must be eligible for getting a loan from the Bandhan bank. Currently, Bandhan bank is one of the most prior banks to offer loans to their valuable customers. The only thing they demand is good cibil score, and you must have a good relationship with the bank.
Smriti Jain is the owner and senior content publisher at Financesmarti. Financesmarti is a website where she shares a lot of useful stuff for the people and business of India. This includes small business ideas and other banking information, as well. Smriti completed her education in science & technology from Delhi University. Smriti usually has interests in digital marketing now, and she has chosen this career for the full-time opportunity. The primary purpose of starting this blog to provide quality information on the banking industry to the people.