Manappuram Finance Business Loan, How to Apply, its eligibility criteria, documents required
Manappuram Finance or MAFIL is a Non-Banking Finance Company (NBFC) that provides various types of loans like a Gold loans, Vehicle loans, Home loans, Business loans, etc. It has over 4000 branches across India in 25 states. The company headquarter is located in Thrissur, Kerala.
In this article, we will discuss the Manappuram Finance Business loan in detail.
| Loan Amount | Rs. 5 lakh to Rs. 2 crores |
| Loan Tenure | From 24 months to 60 months |
| Interest Rate | Competitive rates are available |
| Turn around time | Only 10 days |
| Processing Fee | 2% of the Loan Amount |
Manappuram Finance Business Loan
It is also referred to as SME (small-medium enterprise) loans. It provides loans against Collateral Security of the property to eligible customers carrying an established business.
Manappuram finance offers SME loans of a higher amount for your business.
Features & Benefits of Manappuram Finance Business Loan
- Manappuram has 70 years of service experience which makes them trustworthy.
- It provides loans to Self Employed Professionals/ Non Professionals, Individuals/Proprietorship, partnerships & Limited Companies.
- It offers loans from Rs. 5 lakh to Rs. 2 crores.
- The loan tenure ranges from 24 months to 60 months.
- It offers loans for the long term at an attractive interest rate.
- The loan turnaround time is only 10 days.
- Manappuram Finance requires the customers to provide collateral for the business loans.
Manappuram Finance Business Loan Eligibility & Requirements
- You must belong to either of them i.e Self Employed Professionals/ Non Professionals, Individuals/Proprietorship, Partnership & Limited Companies.
- The applicant’s age should be above 21 years.
- The applicant must provide the collateral security of PROPERTY to get the business loan. The acceptable properties include the following-
- Self-Occupied Commercial or Residential Properties
- Land which extends more than 3 Cents in Corporation areas
- Land which extends more than 5 Cents in Municipal areas
- Land which extends more than 10 Cents in Rural areas.
- Vacant Land and Plot with approach roads.
- An individual should have an established business.
- Applicant should be in the same line of business for at least 5 years.
Documents Required For Manappuram Finance Business Loan
- A recent passport-size photograph.
- Identity Proof ( passport, driving license, Aaadhar card, voter ID). Self-attested copy of KYC Documents.
- Address Proof (Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement).
- Last 2 years Audited/Provisional Financials (Audited financials to include Balance Sheet, Profit, and Loss Account.
- Business Registration Certificate / Certificate of Incorporation.
NOTE: Additional documents may be asked, depending upon your financial stability.
How to Apply For Manappuram Finance Business Loan?
- Visit the official website of Manappuram SME Finance.
- Click on the button Request a Call Back
- On the next page enter your name, select state, City, Email, Phone number, and language, and allow the Manappuram staff to call you by checking the box I Authorize and click on the Submit button.
After filling out the application form, Manappuram staff will call to explain the process of applying for a loan. you may need to visit the nearest office branch for document verification.
Once your document is verified successfully, Manappuram will provide the loan within 10 business days.
Manappuram SME Branch Locations
- Kerala
- Tamil Nadu
- Karnataka
- Maharashtra
- Orissa
- Rajasthan
Manappuram Finance is shortly opening branches in West Bengal, UP, Delhi & Telangana.
Manappuram Finance Customer Care Details
| Manappuram Finance Customer Care Number | 1800-420-22-33 |
| Manappuram Finance Email ID | crm@manappuram.com |
| Office Time | 8.30 AM to 5.30 PM, Monday to Saturday |
| Manappuram Corporate Office | MANAPPURAM FINANCE LIMITED IV / 470 (old) W638A (New), Manappuram House Valapad, Thrissur, Kerala, India – 680 567 Landline : 0487 3050 000, 3050 108, 3050 100 Fax: 0487 2399298 Email: mail@manappuram.com |
Conclusion
We have seen about the Manappuram Finance Business loan and How you can apply for it. Also, we have discussed Manappuram’s business loan eligibility and the required documents to get a loan.
Manappuram is a well-trusted company and in case you are planning for a business loan, it can be a good option as an alternative to banks.
Make sure to check the interest rate, fees & charges before taking any final decision.
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FAQs
It is the time interval that is counted from the time of submission of a process to the time of the completion of the process.
Manappuram Loan amount ranging from Rs. 5 lakh to Rs. 2 Crore.
The Tenure of the Manappuram Business loan ranges from 24 months up to 60 months.
Manappuram Finance Customer Care Number = 1800-420-22-33
The turnaround time for the Manappuram business loan is 10 days.
