Business loan in Ranchi – The concept, Benefits and Beyond!

Business loan in Ranchi – The concept, Benefits and Beyond!

Ranchi is the capital city of Jharkhand state of India and the hometown of Mahendra Singh Dhoni, the person who handed India its famous 2011 Cricket World Cup victory.
The city is seeing some amazing turn of events with industrialization finding a good place. Businesses are mushrooming in Ranchi and if you are a business owner, it is the right time to grow it. You can keep off financial worries as you can rely on the business loan in Ranchi.

What is a business loan?

A business loan is a unique facility provided by prominent names in the financial world to help a business grow, expand, renovate or buy equipment and beyond.
If you have the required business loan eligibility, you can borrow up to Rs.30 lakh at a lower business loan interest rate.

Business loan eligibility to know

You can qualify for a loan for business easily if you have the required business loan eligibility such as:

      You should be a citizen of India
      Your age should be under the bracket of 25-55 years
      Your business should have a history of at least 3 years in operations
      You should have filed the Income Tax Returns (ITRs) for your business in the last 1 year

What are the benefits of availing a business loan?
Be it Ranchi, Bokaro, Dhanbad or Jamshedpur, you can rely on a business loan to expand or give pace to your business and take it to new heights. Here are some benefits of availing the unsecured business loan:

1)    You can avail a higher loan amount
When you can borrow up to Rs.30 lakh at a lower business loan rates, you can least bother about the financial crunches and focus on your business to make it click.

2)    Flexi loan facility
One of the biggest advantages of availing the business loan is none other than lapping up the facility of the flexi loan. You can withdraw an amount out of your total business loan limit and pay only interest as EMI on the amount and nothing else. You can pay the rest of the money at the time of an end of the loan tenor and save up to 43% on EMI repayments.

3)    Collateral free loan facility
A business loan facility is for immediate purposes and the business owner can’t seem to wait endlessly for the loan approval and money disbursement. The business loan is an unsecured business loan facility where you don’t need to provide any 

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