Disclaimer…before you read ahead!
The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updating, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.
Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this article.
About this scheme..
Business Loan is a security free & collateral free loan offering by RBL Bank to meet short-term or working capital financing needs of businesses.
How is it being implemented?
Under this Scheme, direct financial assistance in the form of loans is given to,
- New or already established businesses
What’s on offer?
I. Product
- Term Loan
- Ticket Size: ₹10 Lakhs – ₹50 Lakhs
II. Purpose:
- Acquisiton of or investment in fixed assets
- Working capital requirements
III. Borrower Type:
- Self-employed Individuals & Professionals, Sole Proprietor, Partnership Firm, Limited Liability Partnership (LLP), Private Limited Company, Closely-held Public Limited Company
IV. Security or Collateral or Guarantee or Insurance
- Security: Nil. For more information on whether RBL Bank will create primary charge on assets created out of their finance, please contact them via means mentioned below
- Collateral: Nil
- Guarantee: Nil
- Insurance: For more information around this, please contact RBL Bank via means mentioned below
V. Interest Rate
- Upwards of 10.45% depending on the tenure and methodology of interest rate applicable
- RBL Bank’s prevailing Prime Lending Rate (PLR) is 16.25%
- Please refer to Tabs MCLR, Base Rate and PLR, and Repo Linked Lending Rate here
- For more information around this, please contact RBL Bank via means mentioned below
VI. Processing Fee
- Upto 2% + GST
- This fee will be deducted from the loan amount at the time of the disbursal
VII. Margin Money Requirement
- For more information around this, please contact RBL Bank via means mentioned below
VIII. Tenure, Repayments & Pre-Closures
- Tenure: upto 48 months
- Repayments: EMIs which can be paid through ECS facility, Standing Instruction to debit the borrower’s RBL Bank account or though Post Dated Cheques with EMI amount
- Foreclosure, Penality & Other Charges: For more information around this,
IX. Turnaround Time
- For more information around this, please contact RBL Bank via means mentioned below
Interested? Read ahead to check your eligibility….
I. Will you be at least 27 years of age at the time of application and not more than 65 years at the time of loan maturity?
II. Do you have at least 5 years of experience in your line of business?
III. Do you have at least 3 years of experience in business establishment & operations in the same city?
IV. Is your post qualification experience at least 4 years?
V. Has your business been profitable for the past 3 years?
VI. Does your business have a Minimum Business Turnover as per the last 12 months GST return (Net Turnover) wherever applicable, or based on the financial turnover disclosed in the last year income tax return? Note: For the amount considered under Minimum Business Turnover, please contact RBL Bank via means mentioned below
VII.
- Do you own either residence or office in your name or jointly with family members
OR
- Do you reside in a residence owned by an immediate family member?
If your answers to the questions above are an emphatic YES, you are all set to avail RBL Bank’s Business Loan!
So…how big is this scheme and what has been done so far?
- As on December 31, 2024, RBL Bank had a loan outstanding of ₹9,859 Crores under this Scheme
So, now, how should you go about it?
I. For submitting application:
- Apply online here and track your loan application status here
OR
- Contact one of RBL Bank’s 558 branches nearest to you
II. For information on documentation requirements, please look for Business Loan Application Forms in English & other Indian languages under Business Loan Tab here
III. For any queries, please contact RBL Bank via
- Toll Number: +91 22 61156300
OR
- E-mail: customercare@rblbank.com
OR
- Connect on WhatsApp here
OR
- Visit one of RBL Bank’s 558 branches nearest to you
Go on then…and do spread the word!
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