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Unity Bank Business Loan
The Unity Bank was founded by Centrum Finance, a growing bank these days. Along with best-in-class technology and ease of banking, Unity bank has made good growth in lending loans to its customers.
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Unity Bank Business Loan
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Unity Bank Business LoanHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 700+ |
| Processing | Offline |
| Business Vintage | 3 Year |
| Minimum Turnover | Minimum
1 Cr Maximum 500 Cr |
| Loan Amount & Tenure | 10
Lac-50 Lac (18 month to 36 Month) |
| Loan Product | Only Term Loan No OD Limit |
| Rate of Interest & Type | 16.50% -22% (Reducing) |
| TAT | Sanction-2
Days Disbursement-3 Days |
| Processing Fees | 2% |
| Foreclosure Charges | 4% |
| Applicant Type | Individual, Proprietorship Concern, Partnership Firm/LLP/Company/School/Hospital |
| Whether Co-Applicant Mandatory | Yes In case of proprietorship concern female co-applicant mandatory |
| Proprietor Age/Co-Applicant Age | Applicant
24 Year- 65 Year Co-Applicant 18Year- 75 Year |
| Part Payment Allowed | No |
| Whether Ownership Proof Required | Yes, Either Office or Residence should be owned. |
| Business Registration Proof Mandatory | Yes |
| Program | Banking-Loan
up to 20 Lac GST Surrogate-50 Lac Turnover-50 Lac |
| Product for Professionals | No |
| Negative Profile | School, Advocates, Bhatta Wala, Share Traders, GYM, Tour & Travels |
| USP | 1.Sale
DIP up to 70% can be considered 2. If DSCR 1- No foundation of No of Loan running |
| Additional | In Turnover Program Minmum Bank Churning 80% required |
Unity Bank Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 16 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,073 |
| Total Interest | ₹ 8,877 |
| Loan Amount + Interest | ₹ 108,877 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 100,001 | ₹ 8,875 | ₹ 108,876 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Required Documents to Apply for Unity Bank Business Loans
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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
Note : Unity Bank Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
Some Important Points
- 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 Unity Bank Business Loan
The Unity Bank was founded by Centrum Finance a growing bank these days. Along with best-in-class technology and ease of banking, Unity bank has made good growth in lending loans to its customers. They have been offering business loans at good interest rates to the customers, along with a good amount of loan amount too.
Start with AADHAR HOME LOAN in few steps
If you are planning to apply for a home loan at AADHAR HOME LOAN there are certain details that you should be aware of, Let’s discuss
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
The age of the co-applicant in a business loan with unity bank should be between 24 years to 65 years.
It is a mandatory rule of unity bank, that for business loans a female co-borrower is required.
Yes, unity bank charges 4% of the remaining loan amount if you wish to foreclose the business loan early.
Unity Bank offers business loans to a maximum loan amount of Rs. 50 Lakhs.
A Processing fee of 2% is applicable on the Unity Bank business loan. You have to pay this amount while submitting the application for the loan.
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