| BANKS/NBFCs | INTEREST RATES | LOAN TENURE | PROCESSING FEES |
| Standard Chartered Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Deutsche Bank | 16%-18% (p.a) | 1-4 Years | Upto 2% |
| HDFC Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| ICICI Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Kotak Mahindra Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Axis Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| RBL | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| IDFC First bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Yes Bank | 16%-18% (p.a) | 1-4 Years | Upto 2% |
| Aditya Birla Finance Limited | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| Tata Capital | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| Hero Fincorp Ltd | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| Bajaj Finance ltd | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| NeoGrowth | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| U Gro | 16%-19% (p.a) | 1-4 Years | Upto 2% |
Nestled in the Doon Valley at the Himalayan foothills, Dehradun boasts a scenic charm and delightful climate. A renowned academic and research hub, is adorned with institutions like the Indian Military Academy and Forest Research Institute. Surrounded by Himalayan wonders like Mussoorie and Auli, it offers a gateway to stunning tourist destinations.
Well-connected, it beckons with summer and winter hiking spots like the Valley of Flowers and Kedarkantha. As the capital of Uttarakhand, it witnessed a construction surge, while the past two decades marked remarkable growth in commerce and IT, thanks to STPI and SEZs. With top banks and NBFCs, obtaining a business loan in Dehradun for expansion is conveniently accessible.
Economy of Dehradun
Dehradun’s economic backbone is its thriving tourism, fueled by national parks, mountain peaks, and historical sites. Agriculture dominates as the primary occupation, cultivating staples like rice and lentils, complemented by raita, yoghurt, and salad.
Renowned for litchi and producing the world’s finest basmati rice, Dehradun boasts a robust Food Processing Industry. Recognizing its agricultural prowess, the government has designated 4 Agri Export Zones (AEZ) in the district, focusing on leechis, horticulture, herbs, medicinal plants, and basmati rice. This strategic move reinforces Dehradun’s status as a key player in the realm of agro-based exports and economic development
Types of Business Loan in Dehradun
There are various types of Business Loan offered in Dehradun, some of which include:
| Business Loan Type | Uses |
| Unsecured Business Loans | An unsecured loan is a term loan used to finance long-term or short-term business needs and can be used for Business Expansion/Business Operations.. |
| Working Capital Loans | They are used to finance short-term business needs and can be used for cash flow management, Business Operations, and to fulfil short-term liabilities. |
| Secured Business Loans | They are usually taken against the security of collateral and used for financing long or short-term business needs. They usually have lower interest rates than an unsecured business loan due to collateral security. |
| Loans against Property | Business Loans against Property are taken against the security of commercial, industrial, or residential property and may have a higher loan amount sanctioned based on the market value of the property and the LTV ratio. |
| Equipment Loans | Equipment Loans are usually taken to upgrade machinery or to buy new equipment. |
| Bill Discounting/Invoice Discounting | Bill Discounting is usually used to finance the working capital needs of a business. |
Business Loan EMI Calculator
Purpose of Business Loan in Dehradun
- When your business hits a growth spurt and seizing the opportunity to scale up is too good to pass, consider buying land or leasing space for cultivating leeches or herbs. You can avail business loans from OneNdf for expanding your business.
- Whether you’re buying, leasing, or replacing equipment for enhancing Medicinal Plants, a cost-profit analysis is crucial. Buying offers depreciation benefits and first-year tax exemptions. Business Loan can be availed for buying equipment for medicinal plants, which is a growing industry in dehradun.
- Most often small business such as would require immediate capital for the purchase of inventory stock or raw material. There may arise a situation where the demand for your product may be very high in the market. Businesses may not have the funds to get the raw materials to meet the rise in demand. This problem can be solved when individuals and entrepreneurs take loans to buy the inventory needed for production.
- Many times, small businesses such as IT firms in Information Technology Park may not have enough working capitals to run their day to day activities. You can avail short term business loans till their own assets earn enough revenues to meet their operational needs.
- If a Basmati Rice manufacturing giant in Dehradun is looking to get a larger loan it is necessary for the company to have a good credit history. To make sure of this the individual or proprietors get short term loans and pay them on time to improve their credit history. Consistent repayment of borrowings will lead to a positive credit history.
Eligibility Criteria for a Business Loan in Dehradun
To avail a Business Loan in Dehradun, the borrower must fulfil the following eligibility criteria:
| Particulars | Requirement |
| Citizenship | The business owner must hold an Indian citizenship. |
| Age | The borrower must be at least 21 years old, and the maximum age must not be more than 65 years old at the time of loan maturity. |
| Business Vintage | The business must be at least 2 years old. |
| Credit Score | Both the promoter and the business must have a good credit score of more than 650. The credit score of co-applicants is also checked wherever applicable. The credit score has a crucial role to play in determining the creditworthiness of the borrower. It determines the limit of the lender’s credit exposure based on the repayment history of the business. |
Documents required for a Business Loan in Dehradun
The documents required for a Business Loan in Dehradun may vary based upon the type of business loan. However, the following documents are usually sought by banks and NBFCs for a small business loan in Dehradun:
| KYC Documents of the owner and the business:The foundation of your journey. For both you and your business, we require: | 1. Personal Identification: PAN Card, Aadhaar Card, Voter’s ID Card, Driving License, etc.2. Address Proof: Passport, Utility Bills, Lease Agreement, Trade License, etc.3. Business Legitimacy: GST Registration, UDYAM Registration, Business PAN Card, Licenses issued by Municipalities, Registration certificates from relevant authorities, etc.. |
| Financials: Your economic blueprint, essential for a tailored loan strategy, includes: | 1. Narratives: ITR filings for the last 2 years, complete with Income Computation.2. Business Health Check: Audited Balance Sheets and Profit & Loss Statements for the last 3 years, certified by a CA. Bank Statements from the last 2 years, revealing your financial journey.3. License issued by Municipalities, GST Registration Certificate, Registration certificates by appropriate authorities, etc |
| Proof of Ownership or Collateral Documents (In case of secured loans) | 1. Proof of ownership or collateral documents, including property deeds, sale agreements, possession letters, and asset valuation (if applicable). |
Interest rates and Charges on a Business Loan in Dehradun
The interest rates on a Business Loan in Dehradun can vary from lender to lender. However, here is an overview of the interest rates and charges on various types of business loan in Dehradun:
| Business Loan Type | Interest Rate |
| Unsecured Loans | Starting from 16% p.a. |
| Working Capital Loans | Starting from 9% p.a. |
| Secured Business Loans | Starting from 8.85% p.a. |
| Loans against Property | Starting from 8.85% p.a. |
| Equipment Loans | Starting from 9% p.a. |
| Bill Discounting/Invoice Discounting | As per the financial institution |
Interest rates by various banks and NBFCs for Loan Against Property in Dehradun
| Banks / NBFCs | Interest Rates | Tenure | Processing Fees |
| HDFC Bank | Starting 8.80% | Maximum 15 years | 0.50% |
| ICICI Bank | Starting 9% | Maximum 15 years | 0.75% |
| Kotak Mahindra Bank | Starting 9% | Maximum 15 years | 0.75% |
| Axis Bank | Starting 9% | Maximum 15 years | 0.50% |
| IDFC Bank | Starting 9% | Maximum 20 years | 1% |
| Standard Chartered Bank | Starting 9% | Maximum 15 years | 0.50% |
| Deutsche Bank | Starting 9% | Maximum 15 years | 0.75% |
| Bajaj Finance | Starting 9.5% | Maximum 15 years | 1% |
| L&T Finance | Starting 9.5% | Maximum 15 years | 1% |
| India Bulls | Starting 10% | Maximum 15 years | 1% |
| RBL Bank | Starting 9% | Maximum 15 years | 1% |
| Hero Fincorp | Starting 10.50% | Maximum 15 years | 1% |
| HDB Finance | Starting 9.5% | Maximum 15 years | 1% |
| HSBC | Starting 9% | Maximum 15 years | 0.50% |
| Shinhan Bank | Starting 9% | Maximum 15 years | 0.50% |
| AU Small Finance Bank | Starting 9.25% | Maximum 15 years | 1% |
How to apply for a Business Loan in Dehradun through OneNDF
The process of applying for a Business Loan in Dehradun may differ based on the type of business loan availed.
Many banks at times provide small business loans specifically catering to the requirements of MSMEs, however, given the lack of knowledge about business loans offered and the opaqueness in the online business loan application process, small business owners are often unable to get any immediate business finance and end up running from pillar to post to get a business loan in Dehradun.
To apply for a business loan on OneNDF, please follow these streamlined steps:
1. Sign-Up Process:
- Click on the “Sign-up” button to begin your journey with OneNDF or Click here
- Enter your mobile number to receive a One-Time Password (OTP) for verification.
2. Business Authentication:
- After signing up, provide your PAN number. This step is crucial for verifying your business identity.
3. Registration and Profile Completion:
- Complete the registration process to build your profile on the platform. A comprehensive profile increases the success rate from initial login to loan sanction.
4. Credit Score Check:
- We will conduct a soft-pull of your credit score. This process does not generate an inquiry, thus not affecting your credit score.
5. Financial Information:
- You can upload the Downloaded ITR for your business (detailed PDF) or you can authenticate the credentials for the ITR portal and we will fetch this information and give you a snapshot . This helps in assessing your business’s financial stability.
6. GST Returns:
- Authenticate the GST credentials. Loans are provided to MSME clients, including both self-employed professionals and non-professional business owners based on their GST returns. ((This information can serve as a quick snapshot to help you understand your business better. It allows you to identify your top suppliers and buyers and monitor your returns effortlessly with just a click, eliminating the need to rely on your accountant for this data.))
7. Banking:
- Provide banking details for the last 12 months. This helps in analysing your banking turnover and financial transactions.
Upon completing these steps, we will tailor loan offers from lenders that best fit your requirements. Additionally, a comprehensive profile of your business will be created. This profile not only helps you understand your current business health but also provides recommendations on improving key financial ratios to maintain a healthy bottom line.
FAQs
What is the repayment tenure for business loans taken for growing travel and tourism business?
Paying back for a business loan in Dehradun could take a few months to several years, all depending on the loan type and amount.
What industries in Dehradun are eligible for business loans?
Most Industries including IT Sector, Biotechnology Industry, Food Processing Industry are eligible for business loan.
How can I apply for a business loan in Dehradun through OneNDF?
While numerous lenders provide startup-friendly loans, OneNdf extends business loans exclusively to those with a business vintage of 3 years.
How long does it take to get a business loan approved in Dehradun?
The time for business loan approval in Dehradun varies based on factors like lender type, loan category, application completeness, creditworthiness, collateral, business plan review, and lender workload. Communication and documentation readiness can expedite the process. Check with specific Dehradun lenders for accurate timelines during peak application periods.
Can I get a business loan for Basmati Rice manufacturing without ITR?
If your CIBIL score is 750 or above, you can get an unsecured loan for your biomedical instrument business. In this case, you will get a business loan without ITR and income verification.
Can a startup in Dehradun apply for a business loan?
Usually, lenders give preference to companies that have been in existence for at least two years. Incubators are one type of alternate finance that startups should think about till they reach the required business vintage.
