BOB Business Loan – JMR Finserv Pvt. Ltd.

Apply for BOB Business Loan @ 10.50% Interest Rates

The following are some important Protium Business Loan details:

BOB business loan proceeds can be utilised for various business-related purposes including purchasing machinery and equipment, working capital finance, invoice financing, upgradation of existing infrastructure, etc.
BOB Finance Ltd has widened its service base to more than 5,000 PIN codes, thereby maximising the outreach of credit facilities to underserved and new-to-credit customers.
BOB loan is available to most of the businesses under Micro, Small and Medium Enterprise (MSME) framework, irrespective of the nature of operations. Retailers, traders, restaurants, e-commerce enterprises, service providers, hotel operators and travel agents.
BOB business loans are collateral-free loans without any hidden charges. Customers can avail quick credit in just three steps which includes filling in the personal details, updating your latest bank statements and completing KYC and eNACH.

Minimum Business Turnover	Rs 10 Lakh p.a.
Age of the Applicant	22 to 60 years
Credit Score	Over 650
Impaired Loans History	Customer should not have more than one 90+DPD in last 36 months
Average Daily Bank Balance	Rs 5,000
Type of Company	Proprietorship Firm, Partnership Firm, Limited Liability Partnership, Private Limited Companies

Foreclosure Charges	BOB Finance charges up to 6% of the principal outstanding amount as a foreclosure fee. However, no foreclosure is not allowed for Protium business loans within the first 12 months of availing loan.
Loan Cancellation Charges	A fee of Rs 10,000 is levied on loan cancellation. Over and above this, Protium Finance also collects the interest amount accrued from the date of the loan disbursement till the date of loan cancellation.
Cash Collection Charges	Repayment of loan in cash attracts an additional fee of 1% of the receipt or collected amount.
Modification of Loan Terms	In order to modify the terms of the Protium business loan, the financial services firm can charge up to 2% of the outstanding principal amount.
Late Payment Penalty	All deferred and missed repayments, Protium Finance charges a fee of 2-3% per month of the overdue installment amount.
PDC/ ECS / NACH Bounce Charges	Payments disobeyed through a post-dated cheque (PDC), National Automated Clearing House (NACH) and Electronic Clearance Service (ECS) attract a penalty of Rs 750.

In order to secure a BOB business loan from BOB Finance Ltd, a customer is required to furnish a handful of necessary documents, including a PAN and an Aadhaar.
As a business unit, the firm should have proof of registering the business and government-validated documents that can act as proof of address for the business owner, as well as for the enterprise.
A copy of the latest income tax return is required for a business loan over a loan amount of Rs 15 lakh, while a 9-month bank statement of the firm’s account is needed irrespective.