Loan Tips: If you are in need of cash and are involved with professionals like doctors, chartered accountants, business secretaries, you can apply for a business loan. In many cases, this is a better option than a personal loan, best Loan Tips.
Business loans are granted to professionally qualified individuals who provide professional services to individuals or businesses. Today we are going to tell you about this Loan Tips in detail.
Advantages of the professional loan
Taking out a business loan is considered very easy.
Minimum documentation is required for the business loan.
Its processing costs are much lower and there are no hidden costs.
The rates for this type of loan are very competitive. Each bank wants to have a maximum number of these customers.
The amount you will get for a business loan is determined based on your current needs and responsibilities. The customer’s credit history also plays an important role in this regard.
There is no charge for partial payment or prepayment of this loan. But the customer has to pay for it from his own source.
If the client wishes to take out more loans in the future, he also receives a supplement.
However, the conditions for a business loan vary from bank to bank.
Complete the loan approval process online
1. No document is to be signed or any post-dated check is to be submitted as part of the process of sanctioning a professional loan.
2. The whole process is done via the online electronic signature.
3. e-NACH is used for EMI payment.
These documents are required: –
Proof of professional qualification
1. KYC Document
2. bank statement
3. Proof of employment or business
The business loan is cheaper than the personal loan.
1. Loan rates start at 99 percent for self-employed or salaried professionals.
2. While personal loan rates start at 12%.