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Business Loan in Amritsar
Amritsar is known for its rich culture and thriving business landscape. This city offers numerous opportunities for entrepreneurs. Whether you're looking to expand your existing business, upgrade equipment, or manage your working capital, access to the right financing is crucial. Securing a business loan in Amritsar can be a game-changer. It can provide the necessary capital for expansion and new equipment or simply ensure smooth day-to-day operations. This is where Shriram Finance can help you. This guide will walk you through everything you need to know about business loans in Amritsar. So, let's dive in and explore the world of business loans in Amritsar together!
Business Loan Types in Amritsar
Shriram Finance provides a wide range of secured and unsecured business loans to facilitate your business needs in Amritsar. These include:
Features and Benefits of Business Loans in Amritsar
If you are in need of financial aid to expand and grow your business in Amritsar, Shriram Finance is an ideal choice for availing a hassle-free business loan. Benefits include:
Online EMI Calculator
Loans starting from Rs. 1 lakh*
Secured & Unsecured Loans
Quick Loan & Approvals
Flexible Loan Tenure
Hassle-free Online Process
Business Loan Interest Rates and Charges in Amritsar
Interest rates for Shriram Finance business loans in Amritsar start from 10%* p.a. For detailed information on interest rates and applicable fees/charges, please refer to the details provided on our website or contact our branch representatives in Amritsar.
| Type of Fees | Applicable Charges |
|---|---|
| Interest Rate | Customised interest rates starting from 10%* p.a. |
| Processing Fees | Up to 5%* |
| Late Payment Fees | 36%* p.a on the Overdue Amount |
| Foreclosure Charges | Up to 4%* |
How to Use the Business Loan EMI Calculator
STEP 01
Required loan amount
STEP 02
Interest rate
Min 10%
Max 30%
STEP 03
Min 12 months
Max 84 months
Loan Summary
Loan
Loan Amount
âı 1,00,000
Interest Payable
âı 39,450
Monthly EMI
âı 1,660
Eligibility and Documentation Criteria for Business Loans in Amritsar
Eligibility and Documentation Criteria for Business Loans in Amritsar
Eligible Applicants:- Private Limited Companies
- Public Limited Companies
- Partnership firms
- Limited Liability Partnerships (LLPs)
- Sole Proprietorships
Eligibility Requirements:- Age: Applicants should be between 21 years to 65 years old (with loan maturity not exceeding 65 years).
- Professional Profile: Self-employed individuals, business owners, or proprietors must demonstrate a minimum of 3 years of business experience.
Required Documents:- Business PAN card
- Applicant's PAN card
- Six-month bank statement
- Proof of business registration
- Recent photograph
Step-by-Step Application Process for Business Loans in Amritsar
Applying for a Shriram Business Loan in Amritsar is a simple 5-step process:
Step 1
Register using your mobile numberStep 2
Enter loan detailsStep 3
Enter business detailsStep 4
Receive a verification call from usStep 5
Get your loan disbursed
Unsecured Business Loans in Amritsar
Shriram Finance offers a solution for growing businesses in Amritsar with our unsecured business loans, requiring no collateral. With Shriram Finance, you can get an unsecured business loan starting from Rs. 1 lakh*. Our unsecured business loans come with flexible repayment options and competitive interest rates. Applying is easy with our online process. Benefits include no collateral requirements and a quicker approval process. Eligibility requires your business to have been operating for at least 3 years and submission of necessary documentation.
Our Business Loan Branches in Amritsar
Shriram Finance has branches across Amritsar, making it convenient for customers to apply and manage their loans. Key locations include:
Locate Us
Business Loan Customer Care in Amritsar
For inquiries about business loans in Amritsar, Shriram Finance offers dedicated customer care services. Contact us by phone or visit a branch.
Business Loan Status in Amritsar
For any inquiries or assistance regarding a business loan in Amritsar, Shriram Finance offers dedicated customer care services. You can reach out via phone or visit any branch for personalised support. Contact details and branch addresses can be found on our website.
Business Loans in Major Cities
Business Loan FAQs
Who is eligible for a business loan in Amritsar?
Partnership firms, Proprietorship firms, Pvt Ltd companies, Public Ltd companies, and LLPs are eligible to apply for a business loan. The applicant should be between 21 years to 65 years old (with age at loan maturity not exceeding 65 years). Self-employed individuals, business owners, or proprietors with a minimum of 3 years of business experience are also eligible.
What is the interest rate on a business loan in Amritsar?
The interest rate for Shriram Business Loan starts from 10%* p.a. For detailed information on interest rates and applicable fees/charges, please refer to their interest rate and charges section above.
How much loan can I get for my business in Amritsar?
Shriram Finance provides business loans starting from Rs.1 lakh*. The maximum loan amount depends on your business's needs and eligibility.
Can I apply for a business loan in Amritsar?
Yes, you can apply for a business loan in Amritsar. Applying for a business loan with Shriram Finance is very easy. You can apply online or visit a branch.
What is the maximum loan tenure for a business loan in Amritsar?
You can choose a loan tenure from 12 to 48 months for unsecured business loans and 12 â 84 months for secured business loans.
What is the processing time for a business loan in Amritsar?
The loan approval time is approximately 2- 3 business days. This is dependent on the credibility of the information furnished, fulfilment of the eligibility criteria, and submission of relevant documents.
What is the eligibility for a startup business loan in Amritsar?
For a startup business loan in Amritsar from Shriram Finance, the eligibility criteria are generally the same as for a regular business loan.
What is the minimum interest rate for a business loan in Amritsar?
The minimum interest rate starts from 10%* p.a.
Disclaimer
The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.