Capital First Business Loan Interest rates in Mysore
| 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 Mysore
| 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 Mysore 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
About Capital First
Capital First Highlights
About Other Banks
Bajaj Finserv
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
LIC Housing Finance
Fullerton
TATA Capital
Credila
HDFC Limited
Aditya Birla Housing Finance
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
Canara Bank
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 Mysore
Mysore, the second largest city in Karnataka, is located in the Mysore division and is easily reachable from Bangalore. Located 146 km away, it lies to the south-west of the capital city, spans an area of 128.42 sq km and is located at the base of Chamundi Hills.The word Mysore is derived from “Mahishuru” which literally means the abode of Mahisha. According to a legend, the demon Mahishasura (Mahisha means buffalo and Asura, the demon) was slayed by Goddess Chamundeshwari.
The city came under the rule of the Wodeyars and remained their capital until 1947. After the British took over, the city had lost its status as an administrative centre but was restored to its former glory when Bangalore became the capital of the British.
Other Cities Loan Offers
Places To Be Visited In Mysore
Mysore Palace
The Mysore Palace is one of the most important places to see in Mysore. It was the official residence of the Wodeyars, the erstwhile royal family of Mysore, which had reigned over the princely state of Mysore for more than seven centuries. The palace was built by the Wodeyar kings first in the 14th century. It was demolished and constructed several times later.
Lalitha Mahal
The Lalitha Mahal is situated near the Chamundi Hills near Mysore. It is the second largest palace in Mysore and was built on the orders of the Maharaja of Mysore, Krishnaraja Wodeyar IV in 1921. It was constructed for the exclusive use of the Viceroy of India. The most remarkable feature about the palace is the architectural style used to build it.It is modelled on St Paul’s Cathedral in London and is one of the major landmarks of the city of Mysore. The palace has been painted in pristine white and makes for a great sight. It was converted into a heritage hotel in 1974 and is now run by the Ashoka Group of the Indian Tourism Development Corporation under the Government of India.
Brindavan Gardens
It is situated very close to the Krishnarajasagara Dam which is built across the River Cauvery. The garden receives as many as 2 million tourists every year. The work on laying out of the garden began in 1927 and was completed in 1932. The garden spreads across 60 acres and contains water fountains, Ficus trees, foliage and flowering plants in great variety. It is maintained by the Cauvery Niravari Nigam, which is an enterprise under the Government of Karnataka. Adjoining the garden, there is a large fruit orchard which is spread over 75 acres.
Chamundi Hills
The Chamundi Hills are situated close to the Mysore Palace and are one of the eight most sacred hills in South India. The average altitude of these hills is around 1000 metres. According to popular belief, the Goddess Chamundeshwari also called Chamundi killed the demon king of the area Mahishasura here and hence these hills are named after her to honour her. The goddess Chamundeshwari was considered to be the protective deity of the royal family. The temple dedicated to the goddess was renovated during the reign of Krishnaraja Wodeyar III and a beautiful tall tower was installed in honour of the deity.
St Philomena’s Church
The St Philomena’s Church was constructed in 1936 in neo-Gothic style modelled on the Cologne Cathedral in Germany. The church is dedicated to St Philomena who was a Latin Catholic saint and martyr of the Roman Catholic Church. She was a young Greek princess who was martyred in the 4th century.A relic of St Philomena was obtained from Peter Pisani, the Apostolic Delegate of the East Indies in 1926. He handed over the relic to Father Cochet who sought help from the king in building the church. The king laid the foundation and the construction was completed under Bishop Rene Feuga’s supervision.
Folklore Museum
Founded in the year 1968, Folklore Museum is one of Mysore's most popular tourist attractions. It mainly exhibits an expansive collection of artworks and crafts that belong to different parts of the state. It is located in the imposing Jayalakshmi Vilas Mansion, which stands within the Mysore University Campus. Since its inception, the university has made immense contributions towards the folklore study.