Capital First Business Loan Interest rates in Kakinada
| Up To 10,00,000 | 10,00,000 Above | |
|---|---|---|
| Manufacturer | 18.50% | 18.00% |
| Service Provider | 19.00% | 18.50% |
| Trader/Distributor | 19.50% | 19.00% |
Features of Capital First Business Loan Kakinada
| Type | Features |
|---|---|
| Processing Fee | 1.99% |
| Pre Closure Charges | 4.0% |
| Part Payment Charges | Allowed |
| Min Tenure | 1 Years |
| Max Tenure | 3 Years |
| Min Age | 24 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.5,00,000/- |
| Max Loan Amount | Rs.30,00,000/- |
Capital First Business Loan Kakinada Charges
| Type | Charges |
|---|
Documentation For Business Loan
For Proprietorship Firm
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Last 2 years of Income Tax Documents
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photographs
- 6 months Bank Statements
- Latest year business performance related documents.
- Other loansanction letters and their Track (If existed)
For Partnership Firm
- Filled Application Form
- Partnership deed
- Firm PAN Card & Address Proof
- All Partners Identity Proof
- All Partners Address Proof
- Last 2 years of Income Tax Documents
- Last 6 months of Bank Statements
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photograph for applicant
- 6 months Bank Statements
- Latest year business performance related documents
Private Limited And Limited Companies
- Filled Application Form
- MOA/AOA and Incorporation certificate
- Commencement of operation (if it is a Public Ltd Company)
- Company PAN Card & Address Proof
- All Directors Identity Proof
- Last 2 years of Income Tax Documents
- Last 6 months of Bank Statements
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photograph for applicant
- 6 months Bank Statements
- Latest year business performance related documents
- Other loansanction letters and their Track (If existed)
Identity Proof Of Partners/Directors
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof Of Partners/Directors
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Personal Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Income Proof Of Partners/Directors
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Banking History For Business Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Capital First Business Loan FAQ's
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About Other Banks
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ICICI Bank
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Citi Bank
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IDBI Bank
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Bank of Baroda
Why Business Loans?
Owning a business is an exciting journey. When starting off there are many odds and ends to be met, once the business is set things will begin to takeoff. However nothing is possible in the business world without the right financing. Many business owners will review the financing options available to them, Business Loans are the best suitable for kind of your requirements.
As a business owner, your most difficult task is finding the money to operate your business. Taking the necessary steps to prepare for a small business loan can minimize the difficulty.
Learn what you need to know to clinch the loan deal.
You can get a loan for your business by proper preparation. The main requirements of attaining a business loan are your credit history, business plan, experience, education, and feasibility of the business you are expanding.
The most important task to obtain a business loan is to improve the business. Your business plan must answer the questions, a lending institution would ask for following.
The factors which will affect your business loan eligibility and rate of interest:
Interest rates
Rate of Interest will be based on bank/financial Institutions internal policies and terms. Generally Bank account conduct, reputation of the entity, repayment capability, credit history, Promoters Back ground and other credit related factors which can be evolve for Business Loans.
Tenor: from min of 12 months to Max of 48 months.
Interest Rate: from min 16(percent) to 22 (percent) .
Age: Min of 24 years to max of 55 years.
Repayment: Monthly EMI to be paid till the loan closure.
Repayment mode: By way of PDC, ECS or Standing Instructions.
Pre-Closure Charges: Will be applicable as per bank norms.
Expert Advice
Best Practices for Business Loan
Things not to do for Business Loan
Important points to be remember for Business Loans
Business Loans Vs Working Capital Facilities
| Business Loans | Working Capital Facilities |
|---|---|
| Generally Business Loan are small tenor unsecured loans offered by the bank based on the requirement, conduct and credit history of the entity. | Working Capital loans are related to business day to day operations, there is no limitation for the working capital facilities as per the entities financial performance and collateral capacity. |
| Business Loans are by nature it is a loan and need to repay the regular instalment till the loan will be cleared. | Working capital Facility is a facility you can avail the regular day to day transactions for your business purpose, generally WCF will be sanctioned for 12 months tenor. |
| Business Loans can be used for any related works, and there is no restriction for usage of funds. | WCF will be used only for business and business related purpose, there is a restriction on usage for facilities. |
| Business Loans will be only provide the fund based limits. | Working capital facilities can be sanctioned for fund based or non fund based requirement. |
| Only one type of facility can be availed from the Business Loans from the bank | Various types of facilities can be offered by the bank under WCF facilities. |
| Business Loans can be availed by small business owners. | WCF facilities can be availed by small business owner to big corporate. |
| Maximum tenor of loan is 48 months offered by the banks. | Maximum tenor will be 12 months based on the facility requirement. |
| Business Loans are costly than the WCF loans. Generally interest rates will be very from 18% to 21%. | WCF are relatively cheaper than the Business Loans. Generally interest rates will be vary 13% to 15% as per bank internal policy. |
| Minimum of 3 years vintage will be required for the business loans. | Min of 1 year vintage for calculation of eligibility will require for WCF. |
| Generally Business Loans will be used for unexpected requirement in business.. | WCF will be used for regular activities of business. |
| Loan disbursement will be max 7-15 days from the date of application. | Min of 15 days to max of 90 days will require for process the WCF request from the date of application. |
| Banks/Financial Institutions will prefer to provide the business loans to WCF customers. | Banks will prefer to take more collateral to fund the WCF. |
| Interest will be on total loan outstanding and will be calculated on monthly basis. | Interest will be calculated on daily basis outstanding and will be debited in account on monthly basis. |
About Kakinada
Kakinada, which is the Headquarters of The East Godavari District, is known as rice bowl of Andhra Pradesh and has since long beckoned and enchanted tourists with its lush paddy fields and coconut groves swaying in the breeze which appear to dance in a celebration to life. It is where soulful bhajans and holy shlokas herald the dawn, where the chirping birds and gurgling streams invite you to its beautiful lakes and rivers and wild life sanctuaries.
It is a place of rich tradition, breathtaking natural beauty, historical significance, holy pilgrimage center, beautiful virgin beaches, hillocks, stunning landscapes, soothing rivers, amidst picturesque setting. Apart from these, it has a rich historical past. It dates back to the epic age and was an integral part Chalukyan and Mauryan kingdoms.
Places To Be Visited In Kakinada
Coringa Sanctuary
It is located near kakinada port around 20 km from Kakinada. Rich in flora and fauna. Dynamic ecosystem of this sanctuary constitutes of dense mangroves and lush vegetation makes this place evergreen forest. Excellent place for fishing and bird watching. One can get to see salt water crocodiles, Pelicans, sea guils and other several species of animals.
Annavaram
Annavaram village is located on the bank of river Pampa, 48 km from Kakinada. Shrine Sri Veera Venkata Sathyanarayana Swamy on the hill top is the most distinctive feature of this village, one of the reputed pilgrimage.Next to Tirupati Temple, this temple is gaining more importance and popularity among devotees and tourists. Festivals are celebrated in a grand manner round the year and makes this place pomp and gaiety. Spectacular surrounding and serene atmosphere of this temple will captivate everyone in no time.
Draksharama Bheemeshwara Swamy Temple
It is one of the 'Pancharamas' temple located in Draksharamam village at a distance of 28 km from Kakinada. Crystal Lingam is the unique feature of this temple. This temple is ancient and holy and most reputed pilgrim attracts thousands of devotees and tourists throughout the year. It is a protected monument under the archeological department.
Antarvedi
Antarvedi is referred as 'South Kashi' or Drakshina Kashi. It is famous for its unique feature of having the important tributary of river Godhavari meets the sea which is called 'Sagara Sangamam' . There is a lighthouse at the meeting point and temple of Lord Lakshmi Narasimha Swamy located almost nearer to the bank of Godhavari, Lord Shiva temple and Varshitha Sevashramam are remains major attractions. A beautiful tiny Island is located on the other bank of Godhavari.
Sri Bhavanarayana Swamy Temple:
Sri Bhavanarayana Swamy Temple, located 3 km from Kakinada known for its harmonious architectural blend of Chola and Chalukya styles. Pitahapuram one of the oldest pilgrim consists of several small temples. kakinada port is located in the east coast of India. This all weather lighter-age port debveloped in naturally sheltered 'Godhavari Sand Spit' are the other major attractions of Kakinada.