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Cholamandalam Business Loan
Chola SME Loans are business loans created exclusively for Small and Medium Enterprises to grow and diversify their business. Chola offers a range of financial solutions to meet your specific short-term or long-term funding and business expansion requirements.
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Cholamandalam Business Loan
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Cholamandalam Business LoanHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 700+ |
| Processing | Offline |
| Business Vintage | 2.50 Year |
| Minimum Turnover | 1 Cr-Maximum No Limit |
| Loan Amount & Tenure | 3
Lac-35 Lac (12 month to 60 month) |
| Loan Product | 1. Term Loan 2. OD Product |
| Rate of Interest & Type | 18.50% to 22% (Reducing) |
| TAT | Sanction-1
Days Disbursement-3 Days |
| Processing Fees | 2% |
| Foreclosure Charges | 4% |
| Applicant Type | Any Self Employed Person |
| Whether Co-Applicant Mandatory | Mandatory |
| Proprietor Age/Co-Applicant Age | 25 Year-65 Year |
| Part Payment Allowed | Yes, after 12 month |
| Whether Ownership Proof Required | Yes, either office or residence one should be owned at business place |
| Business Registration Proof Mandatory | Yes |
| Program | GST Program-20 Lac, Banking Program-20 Lac, Income Program-35 Lac |
| Product for Professionals | No |
| Negative Profile | Both
Side Rented Applicant, School, Grain Traders, Advocate,Jewellers, Share
Traders, Gym, Liquor Business, Civil Contractor, Hotel & Restaurant, Tour & Travel, Real Estate |
| USP | Sanction TAT 1 Day |
| Additional | 1.
Minimum 51% Shareholding required on Loan if applicant is LLP/Partnership
firm/Company 2. Civil Contractors is catious profile |
Cholamandalam Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 19 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,216 |
| Total Interest | ₹ 10,588 |
| Loan Amount + Interest | ₹ 110,588 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,263 | ₹ 4,385 | ₹ 27,648 | ₹ 76,737 | 23.26 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,742 | ₹ 6,202 | ₹ 82,944 | ₹ 0 | 100.01 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Cholamandalam Business Loan
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
About Cholamandalam Business Loan
Are you ready to take the business you run to the next level? Cholamandalam Business Loans is here to help you reach your goals, whether you're a startup trying to develop or a mature company looking to grow. Cholamandalam offers customized finance solutions to drive the development of your business, backed by a legacy of trust and a dedication to supporting entrepreneurship.
Cholamandalam Business loans are intended to be a catalyst for your growth, providing you with the financial assistance you require to realize your goals. Let's go on this adventure together and create a prosperous future for your company.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
A business loan is a certain amount borrowed from any lender for the purpose of starting or expanding a business.
The minimum ROI of a Cholamandalam Business Loan is 18.50% per annum
The maximum ROI of a Cholamandalam Business Loan is 22% per annum
The highest loan amount you can avail with a Cholamandalam Business Loan is Rs. 35 Lacs
The minimum loan amount you can avail of with a Cholamandalam Business Loan is Rs. 3 Lacs.
The processing fee for the Cholamandalam Business Loan is between 2% of your loan amount.
The minimum repayment tenure of a Cholamandalam Business Loan is 12 months.
The maximum repayment tenure of the Cholamandalam Business Loan is 60 months.
Yes, you can apply for a Cholamandalam Business Loan anywhere from India as it holds PAN India access.
The required minimum business turnover to apply for a Cholamandalam Business Loan is Rs. 1 crore
To apply for Cholamandalam Business Loan your Minimum CIBIL score must be 700
No, to apply for a Cholamandalam Business Loan your Minimum CIBIL score must be 700.
Yes, to apply for the Cholamandalam Business Loan your Minimum CIBIL score must be 700
You can go to the official website of Cholamandalam or you can also switch to ReferLoan for an easy and smooth loan application process.
The acceptance of a low cibil score for a Cholamandalam Business Loan differs from case to case.
The minimum required age to apply for a Cholamandalam Business Loan is 25
The maximum required age to apply for a Cholamandalam Business Loan is 65
Yes, either office or residence property should be owned at the business place, to apply for a Cholamandalam Business Loan.
Yes, Cholamandalam does offer an OD Limit on small-segment Business Loans.
If you are planning to apply for a Cholamandalam Business Loan, your business’s minimum vintage must be 2.5 years.
Any Self-employed individuals can apply for a Cholamandalam Business Loan
Yes, it is mandatory to provide a Co-applicant to apply for a Cholamandalam Business Loan.
Yes, it is mandatory to provide Business Registration Proof to apply for a Cholamandalam Business Loan.
No, you can’t apply for a Cholamandalam Business Loan if you have a business related to the Schools.
No, you can’t apply for a Cholamandalam Business Loan if you have a business related to the gym.
No, you can’t apply for a Cholamandalam Business Loan if you have a business related to Liquor.
No, any business of Real Estate is considered a negative profile in Cholamandalam Business Loan.
No, any business related to Jewellery is considered a negative profile in the Cholamandalam Business Loan.
No, any business related to the Hotel and Restaurant Sector is considered a negative profile in the Cholamandalam Business Loan.
No, any business related to the Tour and Travel Sector is considered a negative profile in the Cholamandalam Business Loan.
No, any business related to the Civil Contractors is considered a negative profile in the Cholamandalam Business Loan.
No, Advocacy is considered as an adverse profile in Cholamandalam Business Loan.
No, share traders are considered an adverse profile in Cholamandalam Business Loan
No, grain traders are considered to have an adverse profile in Cholamandalam Business Loan.
Yes, partial payment is allowed in a Cholamandalam Business Loan after 12 months.
The foreclosure charges on a Cholamandalam Business Loan is 4%
It is an unsecured loan so the applicant won’t need to provide any collateral.
No, Cholamandalam requires 51% shareholding on its small segment business loan if the applicant is an LLP/Partnership firm/Company.
Cholamandalam takes 3 days for the disbursement of a personal loan
Cholamandalam takes 1 day for the confirmation of a personal loan
Yes, you can apply for a Cholamandalam Business Loan online
The customer care number of Cholamandalam is 1800-102-4565
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