Kotak Mahindra Bank Business Loan

Interest Rate starts from 15.00%
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Business Loan From Kotak Mahindra Bank

Boost your Business with Quick and Hassle free Business Loans from ApnaLoanBazaar provided from various banks across India.
Interest Rate starts from
15.0 * %
Processing Fee
2.0% *
Loan Tenure
Upto 3 Years
Guarantor Requirement
No
Part-Payment
Not Allowed
Pre-Closure Charges
2.0%
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About Kotak Mahindra Bank

Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra. Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL)

Highlights

Best Local Cash Management Bank in India (6th year in a row) in the Asiamoney Cash Management Poll 2014
Most Imminent Bank 2014 by Outlook Money
Gold Award for Best Innovation - World's first socially powered bank account
Gold Award for Best App developed - World's first banking application using Twitter
Best Prepaid Card Programme' at Financial Inclusion & Payments System (FIPS) 2014 for Kotak Samruddhi
Best Bank in 2014 by Business India

FAQs About Kotak Mahindra Business Loan

What are Magma SME Loans all about?
  • At Magma Fincorp Ltd., we understand the unique needs of small and medium enterprises (SMEs) and are keen to support them in their growth. We fund short-term loans up to Rs. 2 crores without any primary or collateral security for business needs, and with payment options for 12 to 48 easy installments. We also offer options of advance installments and structured repayment schedules to match your credit cycle requirements.
  • We provide loan without adequate lead-time within seven working days to facilitate seamless forward movement for your company. With competitive SME loan interest rates, flexible repayment options and a team of dedicated professionals bringing our services to your doorstep, any dream is possible.
What are the different types of SME loans we provide?
  • Working capital:
  • To bridge the working capital gap and foster growth of businesses.
  • Business Expansion:
  • For expansion of manufacturing facilities, increasing product lines, geographical expansion, technology upgrades, forward/backward integration, augmentation of project loan etc.
  • Margin Money Funding:
  • Margin money required for machinery purchase/LC/BG, purchase of business premises, etc.
What is the loan process?
  • Step 1: Submit loan application with required documents.
  • Step 2: Personal visit from credit manager.
  • Step 3: After clearance of queries, if any, decision is made
  • Step 4: Disbursement after submission of agreement and PDCs
  • All key internal processes are handled by a dedicated and knowledgeable in-house team to ensure your application is given due attention and to maintain the highest level of confidentiality.
How do i apply?
  • Leave your contact details
  • Write to us
  • Visit any of our branches.
What documentation is required for an sme loan?
  • Financial statements from the last three years.
  • Bank statements for the past 6 months.
  • Incorporation documents.
  • Proof of address for factory and/or office.
  • Proofs of age, address and signature for all parties involved in the agreement.
  • Validation proof and tax receipts for the current year’s turnover.
Is there a pre-payment option for your product?
  • Yes. You can prepay the loan any time after 6 months with a pre payment fee as per loan agreement.
What is the maximum loan I can borrow?
  • We provide maximum Loan of upto Rs 2 Crore without collaterals.
What are my tenure options?
  • Yes. You can choose tenure options between 12 months to 48 months. Self employed Doctors can get loans upto 60 months.
Can I get an SME Loan without a bank account?
  • You would need to show a bank statement for the past 6 months.
I stay 75 km from your nearest branch office. Can I still get the SME Loan?
  • Yes. You can take SME loan upto 125 kms from the nearest branch.

Required Documentation 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)

Required Documentation 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

For 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 For Business Loan

  • 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 For Business Loan

  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)

Income Proof Of Partners/Directors For Business Loan

  • 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

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?
Business Loan Eligibilit
Interest Rates
Expert Advice
Remember For Business Loans
Business Loans Vs Working Capital