CSB Bank Business Loan
Last Updated : Feb. 6, 2023, 5:27 p.m.
CSB Bank, formerly known as Catholic Syrian Bank issues long term funds to promote the SME units. It grants the loan for various purposes, be it the expansion of existing units, product diversification, plant upgradation or any other such purposes. These loans are primarily secured against the fixed assets purchased through loan and the suitable collateral is offered as secondary security. The bank decides the lending amount on the basis of the applicant’s requirement, business model and most importantly, the repayment capacity of the individual. The rate of interest is also affected by the factors mentioned. The repayment schedule is decided as per the estimated cash flow of the business. For more details read the information given below.
CSB Bank Business Loan Details
| Particulars | Details |
|---|---|
| Interest Rate | Customised |
| Loan Amount | Not specified |
| Tenure | Not specified |
| Processing Fee | As per bank's norms |
How To Apply for the CSB Bank Business Loan?
To apply for the business loan visit the nearest branch of CSB Bank or avail the advantages of online banking. You can apply for a business loan by filling a few details from your laptop or even a mobile phone. You can even call the customer care to make an inquiry about it and apply for the loan.
How to use the CSB Bank Business Loan EMI Calculator?
Avoid the manual EMI calculation by using the Business Loan EMI Calculator that is designed to help the customers that have been struggling hard to have an estimate about the installment amount. It makes the calculation effortless and speedy. The result is computed in very little time. You just need to put the required values in the calculator to know your EMI. These details are loan amount, tenure and rate of interest.
For Example – A customer wants to avail of a loan of ₹ 10,00,000 for a period of 3 years at the rate of interest ranging between 11.95% to 12.20% per annum, then his calculated EMI will range from ₹ 33,190 – ₹ 33,310.
Table Showing EMI, Total Interest Amount, and Total Repayment Amount
|
Loan Amount
(in ₹) |
Interest Rate
(per annum) |
Tenure
(in years) |
EMI
(in ₹) |
Total Interest Amount
(in ₹) |
Total Repayment Amount (Principal + Interest)
(in ₹) |
|---|---|---|---|---|---|
| 10,00,000 | 11.95% – 12.20% | 1 | 88,825 - 33,310 | 65,905 - 1,99,157 | 10,65,905 - 11,99,157 |
| 10,00,000 | 11.95% – 12.20% | 2 | 47,050 - 47,167 | 1,29,203 - 1,32,006 | 11,29,203 - 11,32,006 |
| 10,00,000 | 11.95% – 12.20% | 3 | 33,190 - 33,310 | 1,94,856 - 1,99,157 | 11,94,856 - 11,99,157 |
Amortization Table
| Year |
Principal
(in ₹) |
Interest
(in ₹) |
Balance Amount (in ₹) |
|---|---|---|---|
| 1 | 2,93,786 – 2,94,569 | 1,03,711 – 1,05,934 | 7,05,431 – 7,06,214 |
| 2 | 3,31,704 – 3,31,763 | 66,517 - 68,016 | 3,73,668 – 3,74,510 |
| 3 | 3,73,995 – 3,74,845 | 24,626 - 25,210 | 0 |
What is the Eligibility Criteria for CSB Bank Business Loan?
The enterprise covered under the following constitutions.
- Individual
- Proprietorship
- Partnership Firm (registered or unregistered)
- Private and Public Limited Companies
Documents Required
Before applying for the business loan, the candidates are required to submit the KYC and financial documents to avail of the loan. Without these documents, your application may be rejected by the bank. Make sure that you have all the required documents before finalizing your loan application. You can have a look at the list of documents below.
List Of Required KYC Documents
| KYC Documents |
|---|
| PAN Card |
| Driving License |
| Valid Passport |
| Voter ID Card |
| Job Card issued by NREGA |
| The letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number |
Financial Documents Required
| Category | List of Documents |
|---|---|
| Self-Employed Individuals / Sole Proprietorships |
Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet |
| For Partnership Firms |
Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet Partnership Deed and partnership authority letter for partnership firms Memorandum and Articles of Association and Board Resolution from the company |
| For Public / Private Limited Companies |
Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules)
Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet Memorandum and Articles of Association and Board Resolution from the company Certificate of Incorporation (COI) for companies Latest shareholding patterns for Private Ltd. / Public Ltd. companies |
Features and Benefits of CSB Bank Business Loan
You can have the look at the features and benefits of availing a business loan from the CSB Bank.
- Quick Loan Processing
- Requires Minimum Formalities
- Competitive rate of interest among all the offers available in the market
- Personal contact with officer/ representative at your convenience
Factors Affecting Business Loan Eligibility
- Loan Repayment track
- Credit Performance / Credit Bureau Update
- Debt servicing ability of the customer
- Business Vintage
- Financial Ratios
- Existing relationship
How can You Contact CSB Bank Customer Care Number?
To resolve your queries and doubts or to apply for the loan call on the customer care number. You can speak to the executives on the toll-free helpline number 1800-266-9090. The executives will solve the query in the best possible way.
CSB Bank Branches
The bank has a wide network of branches and ATMs spread across the country. The branches can be located in the following states of the country
- Maharashtra
- Delhi
- Kerala
- Karnataka
- Uttar Pradesh
- Chandigarh
- Punjab
- Tamil Nadu
- West Bengal
- Andhra Pradesh
- Gujarat
- Goa
- Haryana
- Rajasthan
- Orissa
