In the past few years, we have seen that with the lack of Government Jobs, people are showing their interest in Doing Business with creative ideas. So many starts up have been established. And it would not be possible without financial support. So to start a such business you mich be wondering How to get Business Loan from Bharat Pe App.
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Not only Bharat Pe but there are so many other financial supporters in the markets including traditional Banks. But the things I noticed in banks is that They ask for so many documents that the Business owners or the entrepreneur cannot produce at the starting phase of the business. And visiting Daily for paperwork is also a very stressful task for any person.
So in this post, I will tell you How to get Business Loan from Bharat Pe App and detailed information about these facilities.
As I have mentioned Business Loans are not processed quickly by traditional Banks, So to solve such a problem for entrepreneurs Bharat Pe App has launched a Loan facility for businesses. The best thing about this loan is that anybody can apply for this, but make sure you have a permanent shop and your Bharat pe account must be verified with the KYC norms to be eligible.
Before sharing more information, I like to inform my readers that Before applying for Bharat Pe Loan or maybe any other loan, you must cross-verify and also must read their terms and conditions.
What Should You Know Before Taking Business Loan from Bharat Pe?
Well, so you must know who becomes eligible for the Bharat Pe Loan, What are documents required, and the interest rate to be paid, I also want to aware you that no one informs you about the processing fee when you apply for a loan from the company also charges processing too. You must also know the GST charges.
Who can apply for Business Loan from Bharat Pe?
If you are a businessman, business owner, or entrepreneur then you can apply for Bharat Pe Loan from the App. Apart from this if you do not own any business or are unemployed, or have daily wage labor then Bharat Pe will reject your application.
Documents required to Take Business Loan from Bharat Pe
Actually, Bharat Pe does not need any physical copies of your documents. This means all the processes will be done digitally. And if I look for the documents required to register on the Bharat Pe App are PAN cards, an Aadhaar card, and Bank Account. You can use these documents for registration on the app and it will hardly take 10 minutes only.
How much loans can I get from Bharat Pe App?
So the Bharat Pe Loan Limits depend on different factors and one of the key role players is the CIBIL SCORE. If you have a good cibil score then the chances of loan approval are also high. And get Big Loan for your business, by the way, the limits are from Rs. 1000(one thousand) to Rs. 1000000(Ten lakhs).
Bharat Pe Loan Tenure Details
So, now if you are interested to take a loan for your business from Bharat Pe App then that is a very good idea. To tell you that Bharat Pe offers a loan tenure of fifteen months. It can also increase, you can know it while applying for the loan in the app.
Bharat Pe Loan Interest Rate
Now I will mention that, if you apply for loans from traditional banks such as the State Bank of India, Punjab National Bank, etc there you will find that in these banks the interest rate is low.
But as Bharat Pe is not a Bank so there you can see the interest rate to be high. But the approval rates are also fast and easy from the traditional banks.
Let’s conclude that the Interest rate in Bharat Pe is from 21% to 30%.
GST on the approved amount from Bharat Pe
If the Bharat Pe Loan is approved then you will see a GST on your total amount which will be from 0% to 0.2%
How to Apply for Business Loan from Bharat Pe, step by step
- Search for Bharat Pe App on the Playstore or click here
- Sign up with the basic details
- In the left top. Click on three bar menu
- Now click on Full KYC
- Just follow the process to verify your details.
- Now come back to the main dashboard and in the footer, you will see the loan tab, click on it
- Now check your eligibility
Conclusion: I hope you find this article helpful to get a Loan from your Business. If you have not applied apply now. And if you have any suggestions do let me in the comment.