Requirements for personal/ business loan
This query is : Resolved
26 November 2011
Dear sir, i have a query regarding a bank loan.
My friend is running a smalll busines n for the purpose of extension of business he requires Rs. 6 Lakhs ( approx)
he is willing to approach a bank for loan.
Then my query is can he obtain a loan from bank for such purpose???
If so, for which type of loan shud he apply for, i mean Personal loan or Business loan ???
and plz mention what are the requirements need to apply for a Personal / Business Loan.
plzzz sir advise me regarding this............Thanks alot.
My friend is running a smalll busines n for the purpose of extension of business he requires Rs. 6 Lakhs ( approx)
he is willing to approach a bank for loan.
Then my query is can he obtain a loan from bank for such purpose???
If so, for which type of loan shud he apply for, i mean Personal loan or Business loan ???
and plz mention what are the requirements need to apply for a Personal / Business Loan.
plzzz sir advise me regarding this............Thanks alot.
26 November 2011
Your firend can approach the bank for Cash credit limit of Rs.6/-lacs if the money is needed for working capital to run the businness activity. The interest is applied on the no. of days the amount is utilised.
A personal loan is a term loan required for the purpose of prchase of Car, Furniure etc.The personal loan is sanctioned on the basis of average income of last three years. IN case of purchase of item mixxmum amount is restricted to 75% of the item value.
A personal loan is a term loan required for the purpose of prchase of Car, Furniure etc.The personal loan is sanctioned on the basis of average income of last three years. IN case of purchase of item mixxmum amount is restricted to 75% of the item value.
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28 November 2011
Thank u so much sir...
28 November 2011
Thank u so much sir...
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