Business Loan
In India, we have diverse regional and local pockets that have become business and manufacturing hubs. That’s why at Reliance Spectra India, we have identified across India with more than 100+ economic activities and customized our business loans based on each segment to make dreams & needs completed.
For instance, India has agriculture -traders as well as the dairy value chain and sports goods businesses, while Cooch Behar has homegrown jewelry and hardware businesses. At Reliance Spectra India we have crafted business loans for the unique needs of these businesses. So whether you are a regional warehouse owner or a part of a dairy, agriculture, or textile value chain, if you are an SME & seek a term loan for your growing business, talk to us and get your needs and dreams done.
Features
- Secured term loans up to 5 Cr.
- Structured loan – flexible loan tenure and customized repayment options.
- Sanction/approval feedback within 3 days.
- Faster disbursement – 3 Days from login to disbursement.
- Covers 160 locations across India.
- Tailored as per the understanding of the local markets.
Eligibility
| Parameters | Individual Applicant | Non-Individual Applicant |
|---|---|---|
|
Minimum Age |
20 Years |
-Profitable Operations
for 1 years,
-Stability of
Operations
(Geography) for at
least 1 years |
|
Maximum Age
(on Maturity of
Loan)
|
70 Years
|
|
|
LTV |
90 % on
Residential
Property
70%
Commercial
Property |
90 % on Residential
Property
70% Commercial
Property |
|
Profit (PAT) |
Positive for the
past one years |
Positive for the past
one years
|
|
FOIR |
90% |
90%
|
Documentation
- KYC Documents
- Office address proof
- Passport-sized photographs of all applicants/co-applicants.
- Certified copies of MOA / AOA /Partnership deed.
- Bank Statement (1 year).
- 2 yrs ITR of directors/partners.
Business Loan FAQs
Who can avail of Business Loans?
Self-employed Individuals in the age group of 20 to 70 years (at the end of the loan tenure). Partnership Firms, LLPs & Private Ltd. Companies & closely associated public limited companies.
How much finance can I avail of?
Upto INR 5 Cr
What are the tenure options?
Business loans range from a minimum of 1 years up to a maximum of 15 years.
How long will it take to process the loan?
Loans are processed within 3 working days of completing the documentation.
Do I need a guarantor?
Guarantor is mandatory for all the cases
Do I have the option of pre-paying the entire loan amount?
Yes. One can pre-pay the loan at any time after 6 months of availing of the loan. No charge on Foreclosure..
How do I repay the loan?
You can make part pre-payments of a minimum amount of Rs 50,000 after 6 months from the date of first disbursement of the loan. This payment can be made only once in a financial year subject to a maximum of 25% of the balance outstanding against your loan amount at the start of the financial year
How do I repay the loan?
Electronic Clearing System (ECS) or Using Online
Where is our presence?
All India
Fees & Charges
| Particulars | Fees & Charges |
| Cheque Bounce Charges | Rs 250/- |
| Cheque Swapping Charges | Rs 300 |
| Overdue Interest | Rs 300 |
| EMI Cycle Date Change | NA |
| Reschedulement Charges | NA |
| Duplicate NOC | NA |
| Outstation Cheque Charges | Rs. 45 per cheque |
| Cheque revalidation charges | Rs. 100 |
| Loan Statement charges ( per statement) | NIL |
| Foreclosure Charges | Regular Customers prepayment allowed from disbursement date. i) Before 6 months:5% of Principal Outstanding+GST ii) After 6 Months :2% of Principal Outstanding+GST |
| Loan cancellation charges | Rs.1650 |
| Loan reschedulement charges EMI Cycle Date Change | NA |
| SPDC retrieval Charges for swap, matured, preclosure and customer induced cancellations | i) Rs.100/- at the time of Preclosure/Swap/Matured/Customer Induced cancellations. ii) Rs.150/- upto sixty days from the day of Preclosure/Swap/Matured/Customer Induced cancellations. |
| Changing Fixed Rate to Floating & Vice versa | NA |
| Non Refundable Fee | NA |
| Conversion charges | NA |
| Copies of Loan Documents/ Agreement/Retrieval of Share Certificate | NA |
| Charges on Part Disbursement | NA |
| Foreclosure statement charges | NA |
and is subject to change as per relevant regulations of the Government of India.
Terms and conditions apply.
