Equitas Small Finance Bank Business Loan, How to Apply, features & benefits, Equitas Loan Status check, Eligibility, Documents required
It is a small finance bank established in 2016 having its headquarter in Chennai. It is a subsidiary of Equitas Holding Ltd. It offers various types of loans such as Vehicle finance loans, Loans against property, Gold loans, Business loans, etc. Today we will discuss Equitas Small Finance Business Loan and How one can apply for this.
It offers a wide range of loans for different types of professionals.
| Loan Type | Loan Amount | Interest Rate |
|---|---|---|
| Loan against Financials | from Rs.5 lakhs to Rs. 75 Lakhs | Fixed Interest Rate of 18% p.a |
| Loan for Professionals | from Rs. 5 Lakhs to Rs. 10 Lakhs | Fixed Interest Rate of 18% p.a |
| Loan against POS machine sale | from Rs. 5 Lakhs to Rs. 25 Lakhs | Fixed Interest Rate of 18% p.a |
| Loan for Doctors | from Rs. 5 lakhs to Rs. 40 lakhs | Fixed Interest Rate of 18% p.a |
Contents
Equitas Small Finance Business Loan
In this competitive business world, you must be one step ahead to take your business to the next level. for that, money investment is one of the major fuels that can help to grow and expand your business.
For this reason, Equitas is proving various types of loans based on your job profile such as loans for doctors, loan for professionals, etc.
It offers well-customized loans for small and medium enterprises as their needs are different and unique. Equitas business loan will be helpful to stand out your business.
Features & Benefits of Equitas Small Finance Bank Business Loan
- The processing of loan is quite fast as business could wait for so long.
- Minimal Documentation requirement
- Repay with easy equated installments
- Excellent customer service.
- It offers various types of Customized & Flexible financial solutions.
- Equitas offers loans from Rs. 5 lakh to Rs. 75 lakhs depend on your job profile.
- It has the fixed interest rate of 18% p.a.
- A processing fee of 2% of the loan amount is chargeable however Processing fee might vary depend on the various factors.
Equitas Small Finance Bank Business Loan Eligibility & Requirements
- You must belong to Sole proprietorship firms, Partnership firms, Self employed individuals and professionals, Private limited companies or Doctors to get the loan from Equitas.
- You should have your business type as Retail & Wholesale Trade, Service, Manufacturing.
- The applicant age should be between 25 years to 55 years.
Equitas Small Finance Bank Business Loan Required Documents
- Application form
- A recent passport size photograph.
- Id proof- Driving License, Passport, Voter Id card OR PAN card, Aadhar card.
- Residence proof- Driving License, Passport, Voter Id card OR Ration card, Aadhar card, Electricity bill, Water bill.
- Business proof- Registration certificate, Certificates of business existence
- Financial documents- Last two years ITR, Balance Sheet of the firm OR Profit and Loss statements, Last 6 months bank statements.
Equitas Small Finance Bank Interest Rate, Fees & Charges
| Types | Charges |
|---|---|
| Interest Rate | 18% p.a |
| Processing Charges | 2% of the loan amount |
| Cheque bounce charges (CBC) | Rs. 500 |
| Foreclosure charges (For Fixed interest rate period) | Up to 6% |
| Delayed payment | 2% of the EMI outstanding |
Equitas Foreclosure Charges
| Foreclosure charges | Loan Tenure | Loan Tenure | Loan Tenure |
|---|---|---|---|
| EMI Serviced | 12-23 months | 24-35 months | More than 35 months |
| less than 6 months | 5% | 5% | 6% |
| 6 -12 months | 3% | 4% | 5% |
| 12-18 months | – | 3% | 4% |
| More than 18 months | – | 3% | 3% |
How to Repay the Equitas Business Loan
Generally, the payments will be automatically debited from the bank account of the customer. Bank also provides the facility of NEFT/RTGS.
How to Apply for Equitas Small Finance Bank Business Loan?
We have mainly three ways to apply for Equitas Business Loan.
By Visiting Branch
You can visit your nearby Equitas bank branch with the required documents, fill out the loan application form and apply for the business loan.
Customer Care
You can simply call Equitas Customer care number 1800 103 1222 and get to know the procedure of getting a business loan.
Enquiry Form
You can Equitas Bank Enquiry Form with all the required details. Bank will call you to explain the details of the business loan procedure.
Equitas Small Finance Bank Loan Application Status Check
So, you have applied for a loan with Equitas. Now how to check the status or track your loan status. follow the steps below to proceed.
- Visit the Equitas Loan Application Status check website
- Enter your Application number or Proposal Number. you must get Application number to your Email or Registered mobile after applying a loan successfully with Equitas.
- Next, Select the Loan Type from the drop-down and click on the Submit button.
- The System will check the status and confirm it if your loan has been approved or not.
- If the loan is approved, it will show the status as approved else will show Rejected.
Equitas Small Finance Bank Customer Care Details
| Equitas Customer Care Number | 1800 103 1222, 1800 103 2977 |
| Customers outside India Can call the number | +91-44-4004-8500 |
| Equitas Email ID | customerservice@equitasbank.com |
| Equitas Head Office Address | Equitas Small Finance Bank 4th Floor, Spencer Plaza, No. 769, Phase II, Anna Salai Chennai – 600 002 Phone Number – 044 4299 5000 |
| NEFT/RTGS Enquiry Number | Phone Number – 044-30898017 Email ID – rtgs-cell@equitasbank.com / rtgs-cell@equitas.in |
Conclusion
We have learned about Equitas small finance business loan, its features, and how you can apply for it. Also, we have seen how to check the status of Equitas loans.
Since it has various types of loans as per your profession, it can be a good option for getting a business loan. Always make sure to go through all the hidden charges from the bank before getting a business loan.
Read Also
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FAQs
Equitas Small Finance Bank Loan Customer Care Number = 1800-103-2977
The processing fee would depend upon the loan amount and other factors. However, it is currently 2% of the loan amount.
Equitas small finance bank offers loans from Rs.5 lakhs to Rs. 75 Lakhs.
The interest rate is fixed in Equitas at 18 % p.a.
