RBL Bank Business Loan

RBL Bank offers various kinds of Business Loans, such as working capital finance, short-term finance for procuring business assets, export finance, and loans against property for meeting business requirements.

 Business Loan without Collateral - Short Term

This collateral-free loan is offered to meet short-term business requirements and procure fixed assets.

• Loans available from Rs. 10 Lakhs to Rs. 50 Lakhs.
• Repayment tenure ranges between 12 and 36 months.
• No stipulation of collateral for this Business Loan product.

 Working Capital Finance

This loan is offered to take care of the working capital requirements of the business.

• The facility is in the form of a cash credit or overdraft to support day-to-day operations.
• Export credit is available to eligible exporters in the form of pre-shipment and post-shipment credit facilities.
• Non-fund-based facilities like Buyer's credit, letter of credit, and bank guarantees are also available.

 Business Loan Against Property

This loan is offered against the mortgage of property to meet short-term or long-term business requirements.

• Loans available up to Rs. 10 Crores.
• Repayment tenure extends up to 180 months.
• Residential and commercial property accepted as collateral.
• Maximum loan up to 80% of property value.
• Fixed rate of interest for the initial 3 years.
• Minimum documentation, faster approval, and attractive interest rates.

 Business Overdraft Against Property

This loan is offered as an overdraft facility against the mortgage of property to meet short-term or long-term business requirements.

• Drop-line overdraft facility up to a maximum of Rs. 5 Crores.
• Overdraft tenure is a maximum of 10 years.
• Interest is charged on the utilised amount.
• Other features are the same as those of a Business Loan against property.

RBL Bank provides a range of Business Loan facilities with the following attractive features:

• RBL Bank offers working capital finance in the form of cash credit facilities.
• The bank provides ideal banking solutions for short-term business finance requirements.
• Business Loans are available from Rs. 10 Lakhs to Rs. 35 Lakhs.
• Such loans have convenient repayment tenures between 12 and 36 months.
• Export credit facilities are also available in the form of pre-shipment and post-shipment finance.
• The bank offers non-fund-based facilities like Buyer's credit and Letter of Credit facilities to eligible borrowers.
• Other non-fund-based facilities include bank guarantees to meet financial obligations and performance.
• Business Loans up to a maximum of Rs. 10 Crores are also available against the mortgage of property.

Business Loans offered by RBL Bank come loaded with the following benefits:

• Women borrowers get special concessions on interest rates.
• RBL Business Loans do not have stipulations for providing collateral.
• RBL Bank Business Loans have easy eligibility criteria.
• The bank has a simple documentation procedure.
• RBL Bank offers competitive interest rates and charges.
• The bank offers a variety of loans to suit every need.

It is advisable to determine the amount of EMI that you could afford before proceeding with the RBL Bank Business Loan. MyMoneyMantra’s Business Loan EMI Calculator can help you to calculate your probable EMI. Visit our official website and access the Business Loan EMI Calculator on the Financial Tools option on the home page. Enter the loan amount, rate of interest, and repayment tenure to get a detailed chart of your repayment schedule.

Here is an example:

• Loan amount to be availed: Rs. 30 Lakhs
• Applicable interest rate: 9.75% p.a.
• Tenure chosen: 3 years

In this case, your monthly EMI would be Rs. 96,450, the total interest would be Rs. 4,72,194 and the total amount that the borrower needs to pay to the bank would be Rs. 34,72,194.

The complete amortization schedule table

Providing appropriate documents is essential for the processing of the RBL Bank Business Loan. Following is the list of documents to apply for the RBL Bank Business Loan:

• KYC documents: PAN Card for an individual or partnership firm, or company.
• Identity proof: Any one document amongst Voter ID, Passport, Driving licence, and Aadhar card.
• Address proof: Any one document such as Voter ID, Driving licence, telephone or electricity bill, passport, registered lease deed, sale agreement, or bank statement.
• Ownership document: Proof of ownership of residence or business premises in the name of the applicant or jointly with family members.
• Proof of business continuity: Any one document of the following dated at least 5 years old: Partnership deed, Certificate of incorporation, Sales Tax challans, IT returns, bank statement, or Shop & Establishment certificate.
• End-use certification: The business entity should submit a letter certifying the end use of funds on their business letterhead.
• Photographs: Passport-size recent photographs of all applicants and co-applicants.

Here is a list of financial documents depending on the classification of the borrower:

Sole proprietors or self-employed individuals

• Latest audited ITR & last 2 years' financials such as Balance Sheet, P&L A/c, and Computation of Income with all schedules.
• 6 months' bank statement from the borrower's primary bank account.
• 3 months' bank statement of all other bank accounts listed in the balance sheet.

Self-employed professionals

• Financial statements such as Balance Sheet and P&L statements for the previous 2 years, along with ITR and computation of income statements.
• Bank statements for the primary account of the borrower for 6 months and 3-month statements for other accounts are mentioned in the balance sheet.
• Professional Qualification certificate.

Partnership firms & Private Limited Companies

• The latest audited ITR, along withthe  company's financial statements for the last 2 years.
• Computation of income with all the necessary schedules.
• Partnership deed and partnership authority letter in the case of partnership firms.
• MOA and AOA, along with Board Resolution for companies.
• Certificate of Incorporation for companies.
• Latest shareholding patterns for private and public limited companies.

Business Loan without Collateral - Short Term

• The minimum age of the Business Loan applicant should be 27 years
• The maximum age at maturity of the loan should not exceed 65 years
• Self-employed individuals/ professionals, sole proprietorship concerns, partnership firms, private and closely held public limited companies engaged in profitable business for the last three years are eligible.
• A minimum requirement of 5 years of experience in the same line of business, with 3 years of establishment and operation in the same city.
• In the case of self-employed professionals, a minimum of 4 years of post-qualification experience is necessary.
• The minimum annual business turnover should be Rs. 1 Crore
• In the case of Professionals or the service sector, the annual gross receipts should be a minimum of Rs. 60 Lakhs.
• Applicants should either own a residence or office premises in their name or jointly with family members. Alternatively, they should reside in a residence owned by an immediate family member.

Working Capital Finance

In addition to the eligibility criteria for a Business Loan without collateral, the business should satisfy the following criteria:

• A minimum track record of 3 years in the same line of business.
• Cash profit, along with a positive net worth for the previous 2 years.

Business Loan Against Property/ Business Overdraft Against Property

• Loans against property are available to Indian residents alone.
• Self-employed individuals/professionals, sole proprietorship concerns, partnership firms, and private limited companies, including closely held public limited companies.
• The minimum age requirement is 23 years at the time of sanction.
• The borrower should not be more than 65 years of age at the maturity of the loan.
• Minimum net profit as per the latest ITR should be Rs. 1,50,000.

Apart from the interest rate, the following charges are also associated with the RBL Bank Business Loan:

Business Loan & Small Business Loans

Working Capital Finance

MSME Loans

MSME - SW Loans

Prepayment is not allowed until repayment of 6 EMIs. After paying 7 to 18 EMIs, the charges applicable are 5% of the principal outstanding. Closing the loan after paying more than 18 EMIs will attract charges of 3% of the principal outstanding.

• Access our official website and select the Business Loan tab to apply for a Business Loan
• Submit the details such as your name, city of residence and business, loan amount, email address, and mobile number.
• We send you an OTP to the registered mobile number to ensure the genuineness of the application. Enter the OTP at the requisite location to access the best-matching Business Loan offers.
• Accept the terms & conditions and click on the Next button.
• Enter the OTP received on your mobile number.
• Compare all the options displayed on your screen.
• Select RBL Bank as your lending partner and click on the Apply Now button.
• Note down the Application Number for future reference.
• Our customer service executives are available to help you with the documentation formalities. We support you with the application procedure by explaining the loan procedure.

RBL bank business loan interest rates and processing charges are as below:

Small Business Loans

• Rate of interest: 20% - 26%
• Processing fee: 3% of the loan amount

Business Loans

• Rate of interest: 17.50% - 21%
• Processing fee: 2% - 3% of the loan amount

Working Capital Finance

• Rate of interest: 9.75% - 14%
• Processing fee: 1.25% of the loan amount

Unsecured MSM Loans Up to Rs. 5 Lakhs

• Rate of interest: 24% - 26%
• Processing fee: Not applicable

MSE Loans

• Rate of interest: 21% - 25%
• Processing fee: Up to 2% of the loan amount

Secured Loans - Liquid Collateral & Property

• Rate of interest: 14% - 21%
• Processing fee: Up to 2.25% of the loan amount

You can contact on the below-mentioned numbers to speak to the RBL Bank representatives: 1800-419-5959 OR 1800-419-6969