Which Documents You Have to File to Apply for a Bandhan Bank Business Loan
Which Documents You Have to File to Apply for a Bandhan Bank Business Loan
Blog Article
A business loan is a wonderful financial product to expand your business, finance working capital, or boost operations. Bandhan Bank provides business loans so that you can fulfill your dreams. But to get a Bandhan Bank Business Loan successfully, you must submit the necessary documents. In this blog, we will list out the documents that you should prepare in advance for availing of a Bandhan Bank loan.
What Are the Conditions of Eligibility for a Bandhan Bank Business Loan?
You are required to fulfill the conditions of eligibility before availing of a Bandhan Bank Business Loan. The general conditions are:
The individual should be a professional, businessman, or entrepreneur.
The company should have been in operation for at least the period determined by the bank.
There must be a consistent income source and a good credit record.
The age of the applicant should be in the age bracket provided as acceptable by Bandhan Bank.
Being credit-worthy and financially capable enough to satisfy the expectations of the bank.
After ensuring your eligibility, you can go ahead to the document process.
What Documents are Needed for a Bandhan Bank Business Loan?
You will be required to produce the following documents in order to get a Bandhan Bank Business Loan:
1. Proof of Identity
For identification, Bandhan Bank will accept any one of the following documents:
Aadhaar Card
PAN Card
Voter ID
copyright
copyright
2. Address Verification
For address verification, you need to provide any one of the following:
Aadhaar Card
Utility Bills (Electricity, Water, or Gas Bill)
Rental Agreement
copyright
3. Business Verification
For proof of business ownership, Bandhan Bank requires:
GST Registration Certificate
Business Registration Document
Trade License
Udyam Registration (if available)
4. Financial Records
A clean credit history is also needed for the sanction of a loan. You may need to submit:
Bank Statements (recent 6-12 months)
Income Tax Returns (recent 2-3 years)
Profit and Loss Statement
Balance Sheet
5. Loan-Specific Documents
The size and type of the loan will determine the documents Bandhan Bank will need:
Collateral Documents (if a secured loan application is being made)
Business Plan (if a start-up or large funds application is being made)
Loan Application Form (Completed properly and signed)
Application for Bandhan Bank Business Loan
It is simple to apply for a Bandhan Bank Business Loan and the steps to follow are as below:
Check Eligibility: Check if you are eligible according to the norms of the bank.
Gather Documents: Get all the documents ready in advance before applying.
Submit Application: Apply online or go to a Bandhan Bank branch with your documents.
Verification Process: The Bank will process the application and cross-check your documents.
Loan Disbursal & Approval: Once your loan application is approved, the loan will be disbursed to your business account.
Why opt for a Bandhan Bank Business Loan?
It is recommended to opt for a Bandhan Bank Business Loan in several ways, such as:
Attractive rate of interest
Fast processing of the loan
Flexible repayment tenure of the loan
Less paperwork
Tailored business loan solution
Conclusion
Bandhan Bank Business Loan is a great choice for entrepreneurs who wish to utilize the funds. But have all the documents you need with you so that your approval process goes smoothly. Proof of identity, proof of business, account statements, and other supporting documents must be prepared beforehand before applying. In this way, you can approve your loan within the stipulated time. Arena Fincorp will help you get a loan if you are not able to do it. Apply now and bring your business to new heights!
Report this page