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Business Loan in Palakkad
Shriram Finance understands the needs of businesses in Palakkad and offers special loan plans to help them grow. Getting a business loan in Palakkad can empower local businesses to upgrade what they do and make the most of new chances. Because businesses have different needs, Shriram Finance offers loans that can last for different lengths of time and have good interest rates, starting from 10%* p.a. Our easy online system means businesses can quickly get the money they need. Knowing that getting finance easily is important, Shriram Finance offers a simple Business Loan Application process. Shriram Finance is here to help Palakkad's economy grow, with business loans starting from Rs.1 lakh*.
Business Loan Types in Palakkad
Shriram Finance presents a comprehensive suite of secured and unsecured business loan products, thoughtfully designed to address the diverse financial demands of businesses in Palakkad. These offerings include:
Features and Benefits of Business Loans in Palakkad
Shriram Finance is a great option if your business needs funds to grow. Applying for a business loan in Palakkad is easy, with benefits such as:
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 Palakkad
Interest rates for Shriram Finance unsecured business loan in Palakkad start from 12%*p.a Refer to the particulars below for exhaustive information on interest rates and pertinent charges. Secured business loan interest rates start from 10%* p.a.
| 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 Loans 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
₹ 1,00,000
Interest Payable
₹ 39,450
Monthly EMI
₹ 1,660
Eligibility and Documentation Criteria for Business Loan in Palakkad
Eligibility and Documentation Criteria for Business Loan in Palakkad
Who can apply? - Proprietorship firms
- Public Ltd companies
- Partnership firms
- Pvt Ltd companies
- LLPs
Eligibility Criteria- Occupation: Self-employed individuals, business owners, or proprietors with a minimum of 3 years of business experience.
- Age: 21 years to 65 years (Age at loan maturity should not exceed 65 years)
Documents Required- Business PAN
- Bank statement (6 months)
- Business registration proof
- Selfie Photograph
- Applicant PAN
Step-by-Step Application Process for Business Loans in Palakkad
The procedure to apply business loan in Palakkad with Shriram Finance involves 5 distinct steps:
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 Palakkad
Shriram Finance can provide a practical means for small and medium-sized enterprises through its collateral-free business loan. An unsecured business loan allows you to obtain funding without needing to pledge any assets. With Shriram Finance, you can access an unsecured business loan to help manage expenses.Applying for an unsecured business loan with Shriram Finance involves a hassle-free online process. These loans offer benefits, including no collateral requirements and a quick and easy approval process. To be eligible for an unsecured business loan from Shriram Finance, your business needs to meet certain operational and documentary requirements. The availability of unsecured business loans can depend on the business location.
Our Business Loan Branches in Palakkad
Shriram Finance operates Business Loan Branches in Palakkad, simplifying the process for patrons to apply for and oversee their loans:
Locate Us
Business Loan Customer Care in Palakkad
For any inquiries or support needed regarding a business loan in Palakkad, Shriram Finance has specialised Business Loan Customer Care in Palakkad. Assistance is available over the phone, or through personal meetings at any of our branches.
Business Loan Status in Palakkad
To find out about the status of your business loan application, you can visit our website and enter your application reference number. Alternatively, real-time updates on your loan are provided by our customer care representatives.By choosing Shriram Finance, you can expect a borrowing experience tailored to meet your financial objectives in Palakkad.
Business Loans in Major Cities
Business Loan FAQs
Who meets the requirements to get a business loan in Palakkad?
If your operation is a partnership firm, a sole proprietorship, or a company structured as either private or public limited, or even a Limited Liability Partnership (LLP), you're positioned to apply for a business loan. Naturally, the individual making the application should be aged between 21 years to 65 years
Can you give me an idea of the interest rate for a business loan in Palakkad?
Typically, the interest rate that Shriram Finance offers on business loans begins at 10%* p.a. For a granular breakdown of our interest rates, including any associated fees and charges review our dedicated interest rate policy.
So, how much could my business in Palakkad get?
At Shriram Finance, our business loans start from a foundation of Rs.1 lakh*. Naturally, the final figure you could potentially be based on a number of variables, most notably the precise needs of your business in addition to your demonstrated eligibility. For unsecured loans, you're looking at an interest rate of around 12%*p.a, but for secured business loans, that rate drops to 10%* p.a.
Okay, so how do I go about putting in an application for a business loan in Palakkad?
Getting the ball rolling on your Shriram Finance business loan application in Palakkad couldn't be simpler. You have a choice: either apply online from the comfort of your own space, or visit one of our local branches and let our team walk you through the process.
What sort of timeline am I looking at to pay back a business loan in Palakkad?
We pride ourselves on our flexible approach to repayments. For those with unsecured business loans, the repayment window is between 12 to 48 months. However, for secured business loans, we extend that window out to a generous 84 months, giving you the breathing space you need to manage your finances effectively.
What is the processing time likely to be for a business loan in Palakkad?
Here at Shriram Finance, our mission is to make the loan approval process as seamless as possible. We typically aim to give you a definitive answer within 2- 3 business days. Of course, the exact time can fluctuate depending on how quickly we can verify the details you supply, whether you meet our lending criteria, and how promptly we receive all the supporting paperwork.
What do I need to get a business loan for a new business in Palakkad?
If you're looking for a startup business loan from Shriram Finance in Palakkad, the criteria we use to assess your application will generally mirror those we apply to our standard business loans.
What's the baseline interest rate on a business loan in Palakkad?
The baseline interest rate that we offer begins at 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.