Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Situated in the heart of Jharkhand, Ranchi is a city celebrated for its historical importance, burgeoning industrial sector, and flourishing business environment. In the dynamic economic backdrop, local entrepreneurs and enterprises recognize the pivotal need for financial assistance. We will guide you through the realm of business loans in Ranchi, equipping you with the insights needed to make informed decisions about your financial requirements. Our objective is to aid you in making informed choices aligned with your financial objectives and aspirations in this vibrant city.

Features And Benefits Of Business Loans In Ranchi:

Quick Approval:

SMFG India Credit offers swift approvals for eligible applicants using digital processing, enabling better business planning. After verification and documentation, small business loans in Ranchi are promptly approved and funds disbursed

Online Application:

The simplest way to apply for an SMFG India Credit business loan is through our 100% online application process, making the experience comfortable and hassle-free.

Competitive Interest Rates:

Applicants can benefit from competitive and minimal business loan interest rates. The final rate is determined based on factors like income, credit history, etc., and SMFG India Credit's policies at the time of approval.

Business Loan Tools:

Our online business loan tools, including the eligibility calculator and EMI calculator, simplify the process. By entering a few details, such as location, age, income, EMIs, preferred interest rate, and repayment period, you can quickly determine your loan eligibility and calculate your monthly EMI.

Loan Amount and Tenure:

SMFG India Credit enables you to borrow up to INR 75 lakhs* with a flexible repayment tenure of up to 48 months*.

Eligibility Criteria For Business Loans In Ranchi:

SMFG India Credit extends business loan opportunities to a range of enterprises, including proprietors, private limited companies, and partnership firms. Here are the fundamental eligibility criteria:

  • Nationality: The applicant must be a resident Indian.
  • Age: The applicant must be between 22 and 65 years old.
  • Credit Score: A CIBIL score of 750 or higher is necessary.
  • Business Experience: For self-employed individuals, a minimum of 3 years in the current business with a total business experience of 5 years is required.
  • Profits and Turnover Of The Business: Your business must demonstrate profitability over the preceding two years, with a minimum turnover of INR 10 lakhs and an annual income not less than INR 2 lakhs.

It is crucial to note that the final loan amount eligibility will be influenced by various other factors, including policies at the time of loan application.

Documents For Business Loans In Ranchi:

If you're applying for a business loan in Ranchi with SMFG India Credit, you'll need to provide a set of documents, which include (but are not limited to):

Document Type

Document

Identity Proof

Valid identity proof and PAN Card

Address Proof

Voter ID Card, Ration card, Passport, or Driving License

Bank Statements

Latest Bank Statements for the last 6 months

Income Documents

Income Tax Returns (ITR) for the two most recent years, along with the income computation, balance sheet, and profit and loss account for those same two years, all of which must be certified by a Chartered Accountant.

Proof of Continuation

ITR/Trade license/Establishment/Sales Tax Certificate

Other Documents

Sole Proprietorship Declaration or, if applicable, a certified copy of the Partnership Deed, a certified and authentic copy of the Memorandum and Articles of Association, duly endorsed by the company director, along with the requisite Board resolution.

Interest Rates For Business Loans In Ranchi:

SMFG Credit customizes business loans in Ranchi for interest rates to suit individual profiles.

Particulars

Rate

Interest Rate

Interest rates will be determined by taking into account various factors such as location, net income, business stability, collateral, and existing monthly obligations, to ensure that they remain competitive and at their minimum possible level.

Loan Amount

Upto INR 75 lakhs*

Loan Tenure

Upto 48 months*

Lowest EMI Per Month

Starting from INR 1,341 for 48 months

Cheque Dishonoured Charges

INR 300

Proceeding Fees

Upto 6.5% of the Loan Amount

Customer Type

Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd

Late Payment Charges

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.

How To Apply For A Business Loan In Ranchi:

Here are the straightforward steps to applying for a business loan in Ranchi:

Step 1: Visit SMFG India Credit's Apply Now page.

Step 2:Complete the application form with the required details and upload all necessary documents.

Step 3: Provide the requested personal and financial information within the application. You will receive prompt feedback regarding the progress of your application.

Step 4: Your application will undergo various verification stages, including document validation and physical address verification.

Step 5: A representative may reach out for additional information. If eligible, you will receive a tailored loan offer that specifies the loan amount and applicable interest rate.

Step 6:After approval, the loan amount will be disbursed directly to your designated bank account.

Conclusion:

When you require financial assistance in Ranchi, look no further than SMFG India Credit for your business loan needs. Our offerings are tailored for quick and hassle-free fund disbursement, addressing various financial requirements. With flexible repayment terms, attractive interest rates, and a 100% online application process, SMFG India Credit offers fast, adaptable, and trustworthy business loan solutions in Ranchi. Fill out your business loan application today!

*T&C Apply

Apply for Business Loan

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Contact Us

Address:

Second Floor, 203, Mahabir Tower, Main Road, Ranchi, Jharkhand - 834 001

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:30 AM to 6:30 PM (except 1st Saturday and Sundays and public holidays).

FAQs

How is my business loan in Ranchi eligibility calculated?

The eligibility is calculated based on the applicant’s overall credit history, income level, bank balance, credit utilisation ratio, etc. with a credit score higher than 750, and the status of their outstanding debt.

What are the advantages of applying for an online business loan in Ranchi?

SMFG India Credit offers unsecured business loans with adaptable repayment options and a convenient online application process. Borrowers can quickly access loan amounts of up to INR 75 lakhs*, often within 72 hours*, due to clear-cut eligibility requirements. Pre-approved offers and online account management further make the borrowing experience simple.

How to get a lower interest rate on my business loan in Ranchi?

Securing a lower interest rate for your business loan is subject to various factors. Your geographic location, net income, business stability, collateral availability, and current monthly financial commitments all play vital roles in obtaining the best interest rate for your business loan. Ensure that you maintain a healthy financial profile with all your dues cleared to get the best deals.

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