Life in Delhi is fast. Everyone wants to earn a handsome amount of money so that they can match their living standards as per current era. However, with simple 9 to 5 job only few people are able to meet their requirements and remaining suffer in their struggling life.With increase in IT hubs, real stated and construction, BFSI(Banking, Financial Services and Insurance) has also increased on rapid rate.

Increase in Business activities has also increased demand for business loans in Delhi NCR. To get a business loan from My Paisa Bazaars, a person should fulfil some criteria like profitability in last 1 year, minimum CIBIL score. Also, the amount of loan can vary from few lakhs to crores depending on the nature of business and financial background.

You must be thinking why to avail loan in DELHI NCR only why not some other states. So, let me tell you there are few benefits of taking business loan in DELHI NCR. 

Benefits of taking loan in DELHI NCR

1. Instant approval: Delhi is a fast moving city and here everyone wants their work to be done easily and fast.Since loan procedure is a lengthy process, but here in at My Paisa Bazaars it’s like fulfilling all the eligibility criteria.
2. Flexibility: People who are seeking loan want a flexible payment structure. So, you can easily take a loan and can repay it in line with business cash flow.
3. Expanding E-Business: In new era, only retail store is not enough to provide good income. However, you can expand your business in E-commerce sector.
4. Staying ahead of competition:Competition is something which helps you in winning any race. Without any competition there is no growth and the business may end at some point of time. So looking at the competition rate business loans are must and only they are going to improve speed in the race.
5. Interest rate:Paying high interest on less profit business with gives you no result. Because of this fact everyone is looking to a low interest business loan. So, here in DELHI NCR you can get a good business loan interest rate.

Now the question is who all are eligible to get business loans in NCR region. Everyone can take the business loans or there some specific people who are eligible for the loan. So, in this post I am going to explain the eligibility criteria to availany business loan.

Eligibility criteria for business loans in NCR

First of all let me tell you that any business loan from My Paisa Bazaars can be availed by business partners, individuals, self employed person, and firms etc. For being eligible for a business loan there are so many factors that should be considered. Any bank which is going to issue a business loan will look into below points before sanctioning any loan.

1. A persona should be in business for at least 12 months from the date of incorporation.
2. Age limit is a must factor. Loan availing person should have a minimum age of 21 years and a maximum of 65 years.
3. Business should have a turnover of minimum Rs. 20,00,000.

After meeting the eligibility criteria a person has to go through documentation process. Now the question is what all documents are required for this purpose. So, let’s have a look in this.

Documents required for business loan in DELHI

1. Proof of residential area:  this could be anything like driving license, rent agreement, voter ID, passport, ration card.
2. Business KYC: These criteria can be fulfilled by anything from shops and establishment certificates or GST registration certificates.
3. Last 6 months statement of current bank account in PDF format.
4. Pan card of the buyer.

Interest rates in DELHI NCR

Now, the last thing in your mind will be the interest rate which you have to pay on the amount of loan. As per business loan interest rate in India interest rates are very high and because of this an individual fears to apply for a loan. However, in DELHI NCR you are going to get less interest rate as compare to loan interest rate in India.