When you apply for a business loan, you have to meet a few required eligibility criteria, which vary for salaried and self-employed individuals.
For Salaried Individuals
- Age of the Applicant: You should be a minimum of 21 years of age to apply for a business loan. For a government employee, the maximum age is 70 years, and it is 62 years for an individual working with a private company.
- Type of Employment: You are eligible for a business loan if you work at any Govt. organization, PSU, Pvt Sector, Multi-National Co. Partnership Firm and/or LLP, Proprietorship Concern (Individual or HUF) and organizations run by Trust, NGO, Society etc.
- Identity proof - Voter Card, Passport/Driving License, Aadhaar Card, Job card (NREGA), Letter (National Population Register) with details of photo and name.
- Residence proof - Voter Card, Passport/Driving License, Aadhaar Card, Job card (NREGA), Utility bills (Telephone/Electricity Bill) Job card (NREGA), Letter (National Population Register) containing details of photo/name and address.
- Proof of Income - KYC documents, last three months’ salary slips, income tax returns for the past two years, Form 16, Bank statements of the previous six months, and documentation related to your collateral property.
For Self-employed Individuals:
Key Features of Business Loans
Chennai is a progressive city with ambitious entrepreneurs, so when the requirement for a business loan arises, then the following exciting features & benefits offered by Piramal Finance can prove to be truly beneficial:
- Wide Range of Collaterals: Funding across a wide range of collaterals and different types of properties
- Fast loan Approval & Disbursal - You can get quick approvals and speedy sanctions for business loans which save a lot of time.
- High Loan Amount & eligibility - You can benefit from the extensive assessment process and enjoy the maximum loan amount.
- Competitive Rate of Interest - The interest rate offered on business loans starts at 12.5% per annum for all salaried and self-employed individuals.
- Door Step Service - You can get a loan at the comfort of your home or office with our doorstep service.
To apply for a business loan with Piramal Capital Finance, you will need to complete these 4 easy steps:
Step 1: Visit the website of Piramal Finance.
Step 2: Choose the option "Quick Apply".
Step 3: Fill up your details - Name, contact no, email, loan amount, and current location.
Step 4: After filling in all these details, click on Submit.
With our easy documentation process, eligibility criteria, fast and hassle-free loan disbursal, we can help you scale up your business. Apply with us today.