PaisaIndian.co is one of India’s leading financial institutions that offers a variety of financial products and services to its customers. One of the products offered by PaisaIndian.co is business loans, which can be used for a variety of purposes. In this article, we will provide a comprehensive overview of PaisaIndian business loans, including their features, benefits, eligibility criteria and application process.
Features of Business Loans from PaisaIndian.co
Loan Amount: PaisaIndian.co offers business loans ranging from Rs. 10 lakh to Rs. 30 lakh, allowing borrowers to choose a loan amount that suits their needs.
Repayment Period: The repayment period for PaisaIndian business loans can be anywhere from 12 to 60 months, depending on the borrower’s preference and financial situation.
Quick Disbursal: PaisaIndian.co promises to disburse business loan amounts within 24 hours of loan approval, which is an important feature for businesses that need funds quickly.
Flexible Interest Rates: PaisaIndian.co offers flexible interest rates on its business loans, allowing borrowers to choose between fixed and floating rates. Borrowers can also choose the tenure of their loan, which affects the interest rate they will pay.
PaisaIndian provide financial guidance up to 60 lakh at a 7% rate of interest with minimum @7.5% & Max. 8.5% APR, and a minimum 1 years to maximum 20 years repayment facility without any processing fees.
Suppose,
The Loan Amount is 10,000, Interest Rate is 7% p.a, and Loan Period is 1 Year. Then the total repayment amount after 1 year is 10,000 + 700 (7% ROI) = Rs 10,700
No Collateral: PaisaIndian business loans are unsecured, which means borrowers do not have to provide any collateral to secure the loan.
Benefits of Business Loans from PaisaIndian.co
Quick and Easy Application Process: PaisaIndian.co has a quick and easy application process for business loans. Borrowers can apply online or by visiting a PaisaIndian.co branch. The application process requires minimal documentation and can be completed in just a few minutes.
Flexible Repayment Options: PaisaIndian.co offers flexible repayment options to its business loan customers, allowing them to choose the best repayment plan to fit their financial situation. Borrowers can choose to pay back the loan in small EMIs over a longer period of time or opt for larger EMIs over a shorter period of time.
Minimal Documentation: PaisaIndian.co requires minimal documentation for business loans, making the loan application process quick and easy. The company requires borrowers to provide basic personal and financial information, along with proof of income and identity.
Eligibility Criteria for Business Loans from PaisaIndian.co
Business Age: The minimum age for a business applying for a loan from PaisaIndian.co is 3 years.
Annual Turnover: The business should have a minimum annual turnover of Rs. 1 crore to be eligible for a loan from PaisaIndian.co.
Profitability: The business should be profitable for the last two years to be eligible for a loan from PaisaIndian.co.
Credit Score: A good credit score is necessary for loan approval. PaisaIndian.co considers other factors such as business profitability, payment history, and existing debt when evaluating loan applications.
Application Process for Business Loans from PaisaIndian.co
Borrowers can apply for a business loan from PaisaIndian.co in three ways:
Call the Customer Care Center: Borrowers can also call the company ‘s customer care center to apply for a business loan. The customer care representatives will guide them through the loan application process and answer any questions they may have.
Apply Online: Borrowers can also apply for a business loan online through the company ‘s website. They will need to provide their business and financial
In Conclusion
PaisaIndian business loans offer a wide range of features and benefits, making them a popular choice among entrepreneurs and business owners. The flexible repayment options, quick disbursal, minimal documentation requirements and competitive interest rates make it an attractive option for those in need of financial support.
The eligibility criteria are straightforward, and the company offers three easy ways to apply for a business loan, making it a hassle-free process. PaisaIndian.co has a reputation for being a reliable and trustworthy financial institution, and with their business loans, they continue to deliver on their promises to support the growth and development of small and medium enterprises in India.
