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Bandhan Bank Business Loans

Updated on: May 3rd, 2021


10 min read

Bandhan Bank is an Indian banking and financial services company that was established in 2001. This non-banking financial company (NBFC) has spread its base across the universe, intending to reach out to unbanked and under-banked customers. The bank offers loans and other services to retail customers across rural and urban areas of the country and provides financial services to business owners and self-employed individuals.

Bandhan Bank provides loans for small, medium, and large businesses according to their specific needs and requirements. Several loan schemes are available for needs, such as working capital management, flexi loans, setting up and scaling up a business, and others. Further, specific eligibility criteria are also set for each of these schemes. Here is everything you would want to know about Bandhan Bank business loans.

Loan Types OfferedMicro LoansMicro Bazaar LoansSmall Enterprise LoanSamriddhi LoanTerm LoanWorking Capital LoanLoan against Property
Loan AmountRs.1,000 up to Rs.10 crore
Loan Tenure1 year up to 15 years
Interest Rate15%-19.5% p.a.

Types of Business Loans

Loans for Small Businesses

Micro LoansMicro loans are offered in four variants—Suchana Loan, Srishti Loan, Subrddhi Loan, and Samadhaan Loan. Quicker loan approval and disbursal for savings account holders with the bank. The first variant offers loans in the range of Rs.1,000-Rs.25,000, while the second variant offers Rs.26,000-Rs.1.5 lakh. The third variant offers additional liquidity to the existing micro loans and is offered only on or after the 10th week of disbursement of the primary loan. The Samadhaan loan is dedicated to income generation activities during the pandemic, exclusively for existing micro banking customers.
Micro Bazaar LoansSmall entrepreneurs can use the financing under this scheme for working capital requirements, such as to purchase raw materials, salary payments, power charges, etc. Doorstep documentation and delivery facility are available. 
Small Enterprise LoansWhen entrepreneurs require both working capital and term loan, this loan scheme can be of use. The loan amount ranges from Rs.1 lakh up to Rs.25 lakh. The loan can be repaid for up to 4 years.
Smariddhi LoansA loan ranging from Rs.75,000 up to Rs.3 lakh will be offered to scale-up businesses. Borrowers can enjoy simplified documentation and hassle-free loan processing.

Loans for Medium and Large Businesses

Term LoansFinancing offered to fund a new business or expand an existing business. The repayment tenure for this scheme is up to seven years, including a moratorium period of three months. The assets financed must be insured according to the bank clause.
Working Capital LoansMeet the financial requirements of your business through financing under this scheme. The loan amount is repayable on demand. 
Loan Against PropertyGet financing to fulfil general business requirements, such as repairs, renovations, investments, expansion, and others. The loan amount can go up to Rs.10 crore, which can be repaid over a maximum period of 15 years.

Interest Rates

The interest rates for Bandhan Bank business loans may vary from 15% up to 19.5% p.a. The rates may vary based on factors, such as the scheme applied for, the borrower’s eligibility, credit score, prevailing government policies, and others.

Features and Benefits

  • A wide range of loan schemes is available that align the needs of the customers.
  • Flexible repayment tenures are available.
  • The loan amount is determined based on the applicant’s document assessment and prevailing bank policy.
  • The bank provides doorstep service for quick disbursement of the loan.
  • Attractive interest rates apply to business loans.
  • Loans are offered both to set up a business and to scale up the business.
  • The loan schemes increase liquidity in the business for its smooth running.
  • The loan is provided against property for medium and large corporations.
  • The bank recommends insuring assets that are financed with a bank clause.
  • The simplified documentation process for doorstep documentation and delivery setups.
  • The doorstep loan disbursal feature is offered by the bank where executives from dedicated banking units visit the customers at their doorstep, get biometric authentication using hand-held devices and speed up the loan process.

Eligibility Criteria

Suchana Loan and Srishti Loan

  • Age: 
    • Minimum – 18 years at the time of disbursement 
    • Maximum – 65 years at the time of loan maturity 
  • Borrower should be engaged in defined income generation activity 
  • Borrower should be a resident of the project area

Subriddhi Loan

  • Existing EEB borrowers who have 1 running primary loan (Suchana/Srishti/MEL)

Samadhaan Loan

  • Existing micro banking customers with at least one running loan  
  • First cycle borrowers – Maximum loan amount of ₹5,000  
  • Borrowers who have completed a minimum of one cycle of the loan – Maximum loan amount of ₹15,000 
  • Borrowers should not have availed any loan from Bandhan Bank within the last two months as on the date of disbursement of this loan  
  • Age 
    • Minimum – 18 years 
    • Maximum – 65 years at the time of loan maturity  

Small Enterprise Loan

  • Existing Super Saver depositors who have a fixed place of availing services.
  • Borrowers and their spouses cannot be existing borrowers of Suchana, Srishti, and Micro Enterprise Loans. 

Samriddhi Loan

  • Existing micro banking borrowers who have completed a minimum of two cycles of loans in a normal course can apply as a co-applicant with their close relative as the applicant. 

Term Loan

  • Owner of a small/medium enterprise
    • Sole proprietorship
    • Partnership firm or proprietorship
    • Limited Liability Partnership (LLP) 
  • Age
    • Minimum – 23 years
    • Maximum at loan maturity – 60 years 
  • Non-individual applicants must have a minimum of 2 years of experience in the same line of business. 

Working Capital Loan

  • Existing profit-making MSME units

Loan Against Property

  • Eligible applicants
    • Proprietorship
    • Partnership
    • LLP
    • Companies 
    • Self-employed professionals 
  • Age
    • Minimum – 20 years
    • Maximum – 60 years 
  • The business entity should have a satisfactory track record with cash profit for the last two years.
  • Satisfactory credit bureau score. 
  • Satisfactory banking and account conduct. 

Documents Required

Subriddhi Loan and Samadhaan Loan

  • Identity proof 
  • Residence address proof 
  • Passport size photograph 

Micro Bazaar Loan

  • One latest passport size photograph 
  • Address and identity proof documents  
  • Documents acceptable as proof of identity and address
    • Proof of Possession of Aadhaar number
    • Passport
    • Driving Licence
    • Voter ID Card (Issued by Election Commission of India)
    • Job Card by NREGA duly signed by an officer of the state government
    • Letter issued by National Population Registry confirming details of Name, Address  
  • If mailing address and permanent address are different, address proof documents for both are required 

Small Enterprise Loan

  • For loans up to Rs.3 lakh
    • KYC documents 
    • PAN Card 
    • Trade license or Business registration document 
    • Business vintage and residential stability proof 
    • Business financial statement (ITR/Balance Sheet/P&L/GST Return) 
    • Primary bank account statement for last 12 months 
  • Additional documents for loans above Rs.3 lakh
    • GST registration 
    • GST return for last 12 months(not required for GST exempted businesses) 

Additional documents may be required on a case to case basis 

Samriddhi Loan

  • Mandatory documents for applicant and co-applicant: 
    • Identity proof  
    • Residence address proof  
    • Photograph  
  • Additional documents: 
    • PAN Card or Form 60 

Term Loan and Working Capital Loan

  • Duly filled application form 
  • Three passport size photographs of the individual borrower/Directors/Partners 
  • Twotwo passport size photographs of the guarantor, if required 
  • KYC documents 
  • Financial statement of the last three years 
  • Trade licence or any other regulatory license applicable to the unit 
  • Statement of existing bank account for the last six months 
  • Ownership documents of security 
  • Copy of Partnership deed/copy of MOA & AOA or other related documents in case of company/partnership firm 

The bank may ask for other information if required to process the loan.

Loan Against Property

  • Duly filled application form 
  • KYC documents 
  • Financial statement of last 2 years 
  • Trade licence or any other regulatory license applicable to the unit 
  • Statement of existing Bank account for last 12 months 
  • Ownership documents of security 
  • Copy of Partnership deed/ Copy of MOA & AOA or other related documents in case of company/partnership firm 
  • Bank may ask for other information if required to process the loan

Fees and Charges

The processing fee for Bandhan Bank business loans can go up to 2% of the loan amount plus applicable taxes. The fee may vary based on the loan scheme, loan amount, and other factors.

Frequently Asked Questions

Am I allowed to prepay the business loan?

Yes, the bank allows you to prepay the business loan you have taken.

How do I get my queries resolved as I do not want to visit the bank branch due to the COVID situation?

If you cannot visit the branch to resolve your queries, you can call the numbers 033-66333333 and 1800-258-8181 to talk to the bank executives and get a resolution for your queries. 

How long does the bank take to process my business loan application?

Once you submit all the documents and proofs required by the bank, the bank may take seven to ten days to process your loan application and give a verdict.

How long should I wait for the bank to disburse the loan amount upon processing?

Upon completing the necessary post-sanction formalities, the bank will disburse the loan amount within the working hours of the same day in the majority of the cases.

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Quick Summary

Bandhan Bank, an Indian NBFC, provides various types of business loans from micro loans to loans for medium and large businesses. It offers loans for working capital, term loans, and loan against property with interest rates ranging from 15% to 19.5% p.a. The bank ensures a simplified documentation process and quick disbursement for different loan schemes. Eligibility criteria and documents required vary based on the loan type and loan amount.

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