Every business, irrespective of its size and nature, requires funding from time to time. A business loan is an unsecured credit that can help you meet your growing business’ urgent financial requirements. You can apply for a business loan to usher in the funds required to expand your existing business, boost its production, take your business online, procure inventory, buy equipment, and much more.
Advantages Of Marudham Capital Business Loan
Customized Loan Amount With Tata Capital, you can get business finance of Rs. 0.40 lakh to Rs. 75 lakhs. You can choose your business loan amount as per your precise requirement.
Flexible Loan Tenure Choose your business loan tenure as per your repayment capability. You can select your loan tenure between 12 months to 60 months.
Term Loan or OD We offer various business funding options for its customers. You can either apply for a term loan, wherein you’re required to pay fixed EMI for the entire loan tenure, or a Dropline Overdraft Facility, where you would have to repay only the amount used by you, along with interest.
You can apply for a business loan with us and get business finance of up to Rs. 75 lakhs. You can avail of our online business loan from the convenience of your home or office. We won’t make you run from pillar to post or burden you with endless paperwork. Additionally, you can choose a suitable tenure to repay your business loan amount at your convenience.
Minimum Documentation We approve business finance with minimal documentation. We ask only for a handful of documents to approve business loan applications. You can avail of an online business loan and simply upload the required documents on our website.
No Collateral Required Another reason to apply for a business loan with us is that you’re not required to pledge any collateral for it. You can easily avail of business finance without putting your personal or professional assets on the line.
Doorstep Services We provide doorstep services to make your borrowing experience hassle-free. You can simply apply for a business loan with us, and we will arrange for the doorstep pickup of the required documents. Our executive will be there to assist you in every step.
To encourage more and more people buy their own house, government of India provides tax deduction on the principal as well as interest paid on Business loan. An individual is eligible to claim a deduction of up to Rs 1.5 lakh under Section 80C of Income Tax of India 1971 Act in a financial year. While a deduction of up to Rs 2 lakh is allowed on the interest portion under Section 24B of Income Tax of India Act. The deductions under income tax are only available after the construction of the house is complete. You can’t claim the income tax deductions while the property is under construction. Read: to know more about Business loan deductions.
In case of second house, you are eligible to claim deduction for the entire amount of Business loan interest paid under Section 24B of Income Tax Act.
Unlike other loans where lenders charge prepayment penalties on payment made towards Business loan , there are no prepayment penalties on floating rate Business loans . So, whenever you have surplus money, you can utilize it for making part payment towards your Business loan and lower your burden. However, there will be prepayment charges in case of floating rate Business loan.
In case of Business loan you have the facility to transfer your Business loan to different lender if he is giving you loan at a lower interest rate.
For many people buying house with own money is not possible, Business loan as it can be repaid in easy monthly installments makes it easier to buy a house.
Among all types of Business loan, It has the longest repayment tenure which goes up to 30 years, so one can reduce the burden of equated monthly installments by extending the tenure. Use our house loan EMI calculator to know how EMI change as you change your Business loan tenure.
You will also benefit from the rise in prices of the property over time.
As rent in metro cities is quite high they put strain on your monthly budget. It is better to pay the EMIs and own a house.
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