Corporate Business Loans from Bandhan Bank
Bandhan Bank is a Kolkata-based private sector bank in India. They offer a wide range of loan products aimed at providing financial support to their customers in times of need. In addition to other financial products, Bandhan Bank offers different loan options to its customers to help them run their business smoothly. As of April 2020, the bank offers 1 loan and 2 microloans to their corporate customers.
The business loans and microloans offered by Bandhan Bank are:
- Small Enterprise Loan
- Suchana Microloan
- Srishti Microloan
We give you a brief intro to the business loans below. In addition, you have the option to click further and read in detail about the loans in a specific page of their own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. If information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
Bandhan Bank Small Enterprise Loan
The loan helps businesses finance their everyday operations such as for investment in current assets, purchase of raw materials, salary payments, power charges, etc. The maximum loan amount sanctioned under this loan scheme is Rs. 10 lakh.
Features of Bandhan Bank Small Enterprise Loan
Why this Loan?
- The Bandhan Bank Small Enterprise Loan can be taken for all projects and activities related to running the business on a day-to-day basis or for the purchase of long-term assets for the business
- The bank offers this facility as working capital/term loan based on the borrower’s needs
- All businesses in the manufacturing, trading and services sector are eligible for this loan
For more details on this loan, please click anywhere on this sentence to get to its specific page.
Bandhan Bank Suchana Micro Loan
This microloan is designed to help women start a business for generating income and improving their standards of living. This is a group-based loan for women.
Features of Bandhan Bank Suchana Microloan
Why this Loan?
- This is a Joint Liability Group (JLG) loan for women who need funds to start and run small businesses with a group of other women
- The maximum loan amount sanctioned under the Bandhan Bank Suchana Microloan is Rs. 25,000
Bandhan Bank Srishti Micro Loan
This microloan is designed to help home-based businesses and cottage industries raise funds to buy equipment or raw material for business. This is a group-based individual loan for women.
Features of Bandhan Bank Srishti Microloan
Why this Loan?
- This is a Joint Liability Group (JLG) loan for home-based businesses and cottage industries
- The maximum loan amount sanctioned under the Bandhan Bank Srishti Microloan is Rs. 1.5 lakh
- The maximum tenure for this loan is 2 years
Important Note: Bandhan Bank may offer more corporate loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, Strategic Premium, etc. may be decided on a case-to-case basis.
Interest Rate for Bandhan Bank Business Loans
- As of April 2020, Bandhan Bank has only mentioned the range for interest rates applicable to business loans. According to the bank’s website, the interest rate for business loans is derived by adding a Strategic Premium to the bank’s one-year Marginal Cost of Funds-Based Lending Rate. The interest rate varies from 16% to 20% for all business loans depending on the Strategic Premium levied by the bank
- Strategic premium depends on various factors such as the borrower’s profile, type of business loan, quantum of loan, etc.
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- Bandhan Bank Website: www.bandhanbank.com and http://bandhanbankonline.com/netbanking (net banking)
- Headquarters: Kolkata, West Bengal
- Call Centre Toll-Free Number: 1800 258 8181