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Yes Bank Business Loan in Pune

Interest Rate starts from 16.25%

Yes Bank Business Loan Interest rates in Pune

Please Find the Detailed Yes Bank Business Loan Interest Rates

05,00,000
Starting Interest Rate16.25%

Features of Yes Bank Business Loan Pune

Type Features

Yes Bank Business Loan Pune Charges

Type Charges

Documentation For Business Loan

  • 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)
  • 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
  • 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)
  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification
  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)
  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
  • Bank statements of latest 2 months
  • 3 months bank passbook

Yes Bank Business Loan FAQ's

About Yes Bank

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai. Yes Bank is the only Greenfield Bank licence awarded by the RBI in the last one decade. YES BANK is a “Full Service Commercial Bank”, and has steadily built a Corporate, Retail & SME Banking franchise, Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING INDIA’s FINEST QUALITY LARGE BANK”.

Yes Bank Highlights

Yes Bank, received “India’s Fastest Growing Bank of the Year” award at the Bloomberg UTV Financial Leadership Awards 2011
Bank of the Year India, The Banker London - 2015
YES BANK was voted India's 3rd Most Trusted Private Bank in 2014 according to the Brand Trust Report 2014, a study conducted by Trust Research Advisory, a brand analytics company
YES BANK won the GOLDEN PEACOCK INNOVATIVE PRODUCE/SERVICE AWARD-2017

About Other Banks

Business Loan Can Be Used For Many Purposes Like Below

Accelerate the Business Growth

For immediate Business Requirement

For Boosting Revenue

For Training the Manpower

Foreign Business Trips

New Business Contracts

Setting up a new branch

To Purchase Stock

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.

1) How much money do you need for your business?:-
Estimate the plan for business expansion or requirement of your business, it should be for the business growth. Most of the young entrepreneurs in recent a days, wisely using the unsecured business loans from the banks to the their business growth. A small business loan with the clear repayment will ease your chances to have working capital limits with Banks.
2) Purpose of Business Loans?:-
You should be prepared the purpose why you require business loans, by nature business loans are costlier than the regular working capital facilities, and improper utilisation of the business loan will damage your future cash flows, which will lead to a bad credit history. To avoid this, proper planning to be must before availing a business loan with the banks/financial institutions.
3) Tenor of your business loan?:-
Generally business loans will be provided for min of 12 months to maximum of 48 months. You need to decide the tenor based on your repayment/cash flows capability, the higher loan amount will cause you for higher repayment tenor and EMI.
4) What will you do if you don't get the loan?:-
Let lenders know that rejection will not discourage you from starting or growing your business. You want to portray a confident and determined personality and you will not try lender after lender until you receive the money you need to get your business moving. As a business owner, you will need a certain degree of fortitude. Be confident and proud of your venture. Let lenders know you are in control and know what's best for you and your business. Understand that lending institutions need to make loans. But if you don't get one, don't get discouraged. Ask the lender why you didn't get the business loan. Learn from the answer, rectify and move on for other lenders.

The factors which will affect your business loan eligibility and rate of interest:

By nature business is require lot of money whether it is a new or existing to grow. It is necessary for each individual business is having a cycle where the initial investments to turned out to sale and by sale procedure we get profits. As a fundamental a business requires the funds from the initial step to final step of to receive profits. A successful business means to infuse the funds into business whenever it requires.

Generally loans to business entities are two methods, one is secured facility and other one is unsecured facility. Generally Secured Loans will be provided by the banks upon taking a sufficient collateral, however another way, banks will be provide unsecured business loans to the borrower based on the eligibility criteria without taking any collateral from the borrower. Generally Secured loans starts from Rs. 5 lakhs, and the max will be depend upon the proposal strength and the collateral coverage. Whereas Business loans will be starts from Rs. 2 lakhs and max will be capped as Rs. 75 lakhs based on the client risk profile. Since the business loans are by nature unsecured.

In a nut shell, when an entity applies business loan to a Bank/Financial Institute, to be ready with the following factors.

1) Business Model or Business Plan:-
A business model will help the bankers to understand about your business overview, it will give comfort on your business loan decision making. After business model, bank will calculate “as a entity what is the competitive advantage you are having with compare to the market”. A systematic business plan shows that you are serious about running and maintaining a profitable business.
2) Type of Business:-
Another common deciding factor that may affect your business loan by the bank/financial Institutions is your type of business. A “Business Type” is very crucial for In banks decision making. There are some businesses which are into speculative business, video parlors and detective agencies etc., these kind of businesses banks generally do not provide loans, as these entities will carry higher risk.

Banks always looks for the entities which are already well established in the market for at least 3-5 years and having minimum turnover of Rs. 1.00 Cr of annual turnover for last 3 years will have higher opportunity to get the business loans from banks.

3) Credit History:-
Unfortunately, if you are applying for a business and have a poor credit history or over-all credit rating score, it will negatively affect your business loan rate. In fact, you may have a hard time qualifying for a business loan with a bad credit history, Since most of the business loan by nature as a unsecured loans, banks will be in particular concentrate on the credit history of the entities and its promoters, it is suggested that before applying any business loans avail your credit history from CIBIL and apply, a good CIBIL Score can make you to get the interest rate benefit while processing of the business loan.
4) Length of Time in Business (Experience):-
If you are having high business vintage, higher opportunities of getting unsecured business loans from the banks / financial institutions. Those whose businesses survive beyond the three year mark have a better chance of qualifying for a decent business loan rate. Lenders are reluctant to sponsor loans at decent rates to those who are just starting a new business or who have never owned and operated a business before.
5) Your Business Structure:-
Another factor that may determine the rate of your business loan is how your business is legally structured. For instance, a small business that is established as a sole proprietorship may not qualify for a decent loan rate whereas a business that is structured as a incorporated may have higher chances of qualify for the decent loan, depending upon other factors too.

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

Prepare carefully prior to applying for a loan. If a lender believes you have done a thorough job in presenting your request for a loan, it is more likely to have confidence in your management abilities and your company.
Go for business loans only on your immediate business requirement, apart from your working capital request.
Know how much money you are requesting and how your company proposes to pay it back.
Compare terms, conditions, and rates when Opt for a loan -- they can vary from lender to lender.
Provide your company’s financial documents available for the lender at your first meeting. The lender will be able to begin reviewing your request immediately.
Thoroughly check before accepting the loans terms and conditions, interest, prepayment charges details and other related information.
Improve the credit history and get the cheaper loans from the banks or financial institutes.
If you don’t take the time and energy to put your best foot forward, the lender will not have confidence in your management and decision making abilities.

Things not to do for Business Loan

Do not ask a banker "how much" money your company will qualify for. If you don’t know how much moneyyou need and how your company is going to repay the money, then the purpose will be differ from your business requirement.
Do not use unsecured Business loans for other than the business requirement. Since Business Loans are relatively costly with compare to the other loan products in the market.
The effect of the higher interest rate is an increased monthly payment, which can be more difficult for some businesses to manage.
If your business is younger than two years and it has not established a diverse credit profile in good standing, then try to avoid the Business Loan.
Do not delay on repayment of availed loan facility, which will affect your credit history, makes your another attempt will be more costlier bank funds.
Do not rush with the process.

Important points to be remember for Business Loans

1) A Great Idea isn’t Always a Great Business Idea::-
The first thing to know about getting a business loan is that having a great idea isn’t everything. Not all of them are business ideas that can work. Some are just great ideas. Great business ideas, on the other hand, are backed by solid plans that demonstrate viability. If you don’t have that, it’s a waste of your time to approach a bank looking to fund your idea.
2) Speak Your Business Plan::-
Your business plan should outline what you want to do and how you plan to do it. It should define whom you are marketing to, how you’re going to execute it/get it made and how you’re going to get paid, along with expected margins. There are many resources available to help you create your business plan, so do your homework before asking for a loan.
3) Honesty and Integrity Matter::-
Bank officers need to know they can trust you before they approve your loan. They’ll ask about your personal and business credit and your existing financials which will be needed to take a decision on your loan.
4) Find the Right Bank and Banker for You::-
When deciding which bank to approach for your loan, use your network in the business community for referrals. Find out what other entrepreneurs think. Then, when you meet with a bank (or more than one), also ask to meet with more than one loan officer. It’ll give you a better sense of the bank as a whole. One officer, for example, may know more about a specific aspect of your business while another is more familiar with your industry.
4) Small Business is Growing Strong::-
Small businesses are quicker to adapt. They do more with less and are often more innovative by their very nature. In a way, there’s never been a better time to be a small business entrepreneur. So get your ideas out there. Make a plan that’s viable, find your community bank lender and make it happen.

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 Pune

Pune is the the second largest city in the Indian state of Maharashtra and the ninth most populous city in the country. Situated Deccan plateau on the right bank of the Mutha river, Pune is the 7th ranking industrial metro of India at present. Infact Kothrud has achieved a place in the Guinness book of world records for having the fastest urban growth rate, and one of the most important IT hubs in India. Pune is known for its educational facilities and relative prosperity. Being the cultural capital of Maharashtra,

Pune became popular with the rise of Maratha ruler Shivaji. He spent his early childhood in Pune at Lal Mahal, a palace built by his father Shahaji, where Shivaji's mother Jijabai lived for a decade. Aurangazeb's uncle, Shahistekhan was defeated at Lal Mahal by Shivaji.Aurangazeb named Pune as Muhiyabad after the death of Shivaji in 1680. Pune again gained importance during the period of the second Peshwa Thorala (senior) Bajirao who ruled from 1720 to 1740.

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Places To Be Visited In Pune

Western Ghat

    During monsoon the western ghat enhances its beauty. At that time, all red brown terrain changes into a deep, bright green with dense rain clouds hanging from the sides. The option for trekking is also available.

Lonavala

    Lonavala is best weekend destination for people of Maharashtra. Lonavala is situated in Pune district of Maharashtra. It is about 64 km away from the city ofPune, 96 km away from the city ofMumbai. Here you will get the mesmerized view. Lonavla Lake is surrounded by natural scenery, about 1.6 km from the town.

Darshan Museum

    Darshan Museum is a biographical museum that offers an insight into the life and therefore the teachings of Sadhu Vaswani. The museum is built on a space of 10000 sq. feet; on the first floor of the Sadhu Vaswani Mission Building.

Bhuleshwar Temple

    Bhuleshwar Temple is a hindu temple of Shiva, situated around 45km from Pune it is a historical Temple in Pune.The temple is situated on a hill and was built in the 13th century.The temple is unique as its architecture is Islamic from outside and appears more as a mosque than a temple due to its resemblance of circular tomb and minarets.

Rajmachi

    Clad in history and ancient tales, the quaint village of Rajmachi is also among the best places to near Pune in monsoon. Located around 78km from the city limits, this hamlet is embraced by the enchanting charm of the Sahyadri Mountains and the historic Rajmachi Fort serving as the main attraction.With the fortified Shrivardhan and Manaranjan forts as the fortified structures, a trek to Rajmachi Fort is a must for the adrenaline junkies.

Lavasa

    Located around 57km from Pune's city limits, Lavasa or the first private planned city in India is a heaven for the nature lovers. Cossetted with stunning hills and evergreen pastures, this hill city spreads around 25,000 acres and is known for its peaceful ambience, serenity and gorgeousness andmake it to this beautiful hill city and explore its grandiosity on a jovial segway ride. Navigate through the quaint lanes of Lavas, ride steadily through its opulent beauty and discover the charm and appeal of Lavasa.

Total Number Of Branches In Pune (1941)

BANK OF MAHARASHTRA (189 Branches)STATE BANK OF INDIA (157 Branches)HDFC BANK (152 Branches)IDBI BANK (107 Branches)ICICI BANK LTD (99 Branches)THE SHAMRAO VITHAL CO-OP BANK (89 Branches)BANK OF INDIA (77 Branches)BANK OF BARODA (69 Branches)UNION BANK OF INDIA (69 Branches)AXIS BANK (63 Branches)CANARA BANK (61 Branches)CENTRAL BANK OF INDIA (61 Branches)YES BANK (55 Branches)SARASWAT CO-OP BANK LTD (46 Branches)KOTAK MAHINDRA BANK LTD (42 Branches)CORPORATION BANK (36 Branches)INDIAN OVERSEAS BANK (34 Branches)PUNJAB NATIONAL BANK (34 Branches)DENA BANK (29 Branches)ORIENTAL BANK OF COMMERCE (28 Branches)JANATA SAHAKARI BANK LTD (28 Branches)SYNDICATE BANK (27 Branches)JANASEVA SAHAKARI BANK LTD (25 Branches)UCO BANK (24 Branches)VIJAYA BANK (23 Branches)TJSB SAHAKARI BANK LTD (23 Branches)INDIAN BANK (20 Branches)ANDHRA BANK (19 Branches)FEDERAL BANK (18 Branches)INDUSIND BANK (17 Branches)MAHANAGAR CO-OP BANK (17 Branches)NKGSB CO-OP BANK LTD (15 Branches)RAJGURUNAGAR SAHAKARI BANK LTD (13 Branches)ABHYUDAYA CO-OP BANK LTD (12 Branches)STATE BANK OF HYDERABAD (12 Branches)SOUTH INDIAN BANK (11 Branches)THE KARAD CO-OP BANK LTD (10 Branches)RBL BANK LTD (9 Branches)PUNJAB & MAHARSHTRA CO-OP BANK (9 Branches)NAGAR CO OPERATIVE BANK (8 Branches)ALLAHABAD BANK (8 Branches)BANDHAN BANK LTD (7 Branches)KALYAN JANATA SAHAKARI BANK (6 Branches)KARNATAKA BANK LTD (6 Branches)UNITED BANK OF INDIA (5 Branches)ING VYSYA BANK (5 Branches)PUNJAB & SIND BANK (4 Branches)BHARAT CO-OP BANK MUMBAI LTD (4 Branches)DCB BANK LTD (4 Branches)STATE BANK OF MYSORE (4 Branches)STATE BANK OF PATIALA (4 Branches)STATE BANK OF TRAVANCORE (3 Branches)THE NASIK MER CO-OP BANK LTD (3 Branches)CITIZEN CREDIT CO-OP BANK LTD (3 Branches)BASSEIN CATHOLIC CO-OP BANK LTD (3 Branches)STATE BANK OF BIKANER & JAIPUR (3 Branches)STANDARD CHARTERED BANK (2 Branches)NEW INDIA CO-OP BANK LTD (2 Branches)KARUR VYSYA BANK (2 Branches)APNA SAHAKARI BANK LTD (2 Branches)G P PARSIK BANK (2 Branches)HSBC BANK (2 Branches)TAMILNAD MERCANTILE BANK LTD (2 Branches)THE ROYAL BANK OF SCOTLAND N V (1 Branches)THE SEVA VIKAS CO-OP BANK LTD (1 Branches)THE VARACHHA CO-OP BANK LTD (1 Branches)THE ZOROASTRIAN CO-OP BANK LTD (1 Branches)STATE BANK OF INDIA (1 Branches)DEUSTCHE BANK (1 Branches)DEVELOPMENT BANK OF SINGAPORE (1 Branches)DHANALAXMI BANK (1 Branches)CITY UNION BANK LTD (1 Branches)B N P PARIBAS (1 Branches)BHARATIYA MAHILA BANK LTD (1 Branches)CITI BANK (1 Branches)CATHOLIC SYRIAN BANK LTD (1 Branches)LAKSHMI VILAS BANK (1 Branches)JAMMU & KASHMIR BANK LTD (1 Branches)IDFC BANK LTD (1 Branches)RESERVE BANK OF INDIA, PAD (1 Branches)SHINHAN BANK (1 Branches)
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