Dhanlaxmi Bank Business Loan

Please Note: Dhanlaxmi Bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.

Dhanlaxmi Bank is one of the oldest private sector banks that offers banking and financial services to its customers. The bank specialises in providing lending products that include credit cards, personal loan, home loan, gold loan, etc. Dhanlaxmi bank focuses in providing short business loans at an interest rate starting from 10.10% p.a. onwards. However, its Dhanam Business loan is offered at 10.70% p.a. onwards. Further mentioned are the types, features, eligibility and fees and charges of business loans offered by Dhanlaxmi Bank.   

Dhanlaxmi Bank Business Loan – Interest Rate

Features and Eligibility
Interest Rate	10.70% onwards
Loan Amount	Min. Rs. 10 lakh & Max. Rs. 5 crore
Repayment Tenure	From 12 months – 60 months
Age Criteria	Min. 23 years of age
Profiles Covered	Retailers, Service Providers, Contractors, Manufacturers, Traders and Wholesalers
Work Experience	Min. 5 years with 4 years in current business
Financial Norms	Should be Positive After Tax (PAT)

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Types of Business Loans offered by Dhanlaxmi Bank

Loan Type	Interest Rate – (p.a.)
Construction Finance	10.70% onwards
Working Capital Loan – Cash Credit	10.50% onwards
Working Capital Loan – Packing Credit – Export	10.30% onwards
Term Loans	10.60% onwards
Short Term Loans	10.10% onwards
Overdraft	10.50% onwards

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Dhanlaxmi Bank’s range of SME Banking products includes the following:

Working Capital Facilities

• Bill / Invoice Discounting
• Capacity Expansion
• Cash Credit
• Overdraft
• Supply Chain Finance
• Working Capital Loan

Dhanlaxmi bank serves SME segment by offering enterprises engaged in manufacturer, whole sale and retail trader and services sectors.

Trade Facilities offered by Dhanlaxmi Bank

• Bank Guarantee (BG)
• Buyers / Suppliers Credit
• Collections and Payment Solutions, such as cash or cheque collection, etc.
• Export Packing Credit Services
• Inward / Outward remittances
• Letter of Credit
• Payment Gateway Services
• Post Shipment Credit
• Transactional Banking Services

Dhanlaxmi Bank Business Loan – Fees & Charges

Category	Fees & Charges
Cheque Bounce Charges	Rs. 350 per instance
PDC Swap Charges	Rs. 500 per instance
EMI Cycle Change	Rs. 500 per instance
Loan Reschedule Charges	0.25% per instance
Switch Charges	3% + GST of the principal outstanding
Loan Cancellation Charges	Rs. 2000 + interest charges from the date of loan disbursement till the loan cancellation request
Loan Statement Charges	Rs. 500
Stamp Duty	As per Actuals
Legal, Repossession and Incidental Charges	As per Actuals
Insurance Premium	As per Actuals
Any Additional Charge	As per sanction letter

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Documents Required for Loan Application

• Passport-sized Photographs
• Duly filled loan application form
• Business Plan (Optional)
• KYC Documents of owner, partner and co-applicant, if applicable
• Audited Financial reports – ITR, Sales Tax Report, P&L report
• Applicant’s business address proof
• Owner’s Bank Sanction Letter
• Last 12 months’ bank Statements
• Credit report of business and owner, both
• Net-worth Statements of applicant and partner

Dhanlaxmi Microcredit Loan

Micro Credit Scheme was launched with the help of Micro Finance Institutions in empowering women and providing lending support to poor people living in rural, semi urban and urban areas.

Micro Credit Loan – Interest Rate & Features
Interest Rate	11.20% onwards
Loan Amount	Depends on business requirements
Repayment Tenure	Up to 3 years
Purpose of loan	Can be used for agriculture and allied activities, consumption, production and other activities

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Eligibility for Micro Lending

• Should be registered with the relevant authority as an NBFC, Section 25 Company, NGO, Society, Trust, etc.
• Operating for more than 3 years
• Should be equipped with suitable system of maintaining accounts/records with regular audit
• If cash advances exceed Rs. 2 crore, applicant needs to obtain rating from approved agency or bureau
• Permitting provisions shall be available partnership deed, Bye Laws, Memorandum and Articles of Association (Moa) & (AoA), etc.

Documents Required

• MFI’s authorised signatory will provide loan application
• Attested True Copy of Registration Certificate of MFI
• PAN Card copy of MFI
• Last 6 months’ bank statement
• Last 3 years’ audited financials
• Last 3 years’ Income Tax Returns
• Rating report by respective agency or credit bureau
• Certified Copies of Trust Deed or Memorandum and Articles of Association (Moa) & (AoA)

FAQs

What is the interest rate offered by Dhanlaxmi Bank on their business loans?
The interest rate offered on their short-term business loan is 10.10% onwards, whereas its 10.70% onwards for their regular business loan.

What is the loan amount offered by the bank for its business loans?
The minimum loan amount offered is Rs. 10 lakh and the maximum is up to Rs. 5 crore.

What is the repayment tenure of their business loan?
The repayment tenure ranges between 12 months to 60 months.

How can I contact the bank for any query or feedback?
You can contact the bank by visiting the below mentioned address or can calling the number.Dhanlaxmi Bank Ltd.
Dhanalakshmi Buildings, Naickanal
Thrissur – 680 001, Kerala
Phone: 91-487-6617000