Bandhan Bank

Choosing the right loan

• If your business has run for at least 2 years and you need working capital or a term loan, look at the Aspiring Business Loan.
• If you run a business or another income-generating activity as an individual, the Sahayata Loan may fit, alone or with a family co-applicant.
• If you run a home-based business and want a group-based loan to expand, look at the Srishti Loan.
• Check the age limits before you apply. The Aspiring Business Loan needs applicants of at least 21 years, and the Sahayata Loan needs at least 20 years for the applicant and any co-applicant.

Documents to have ready

• KYC of the business, and KYC of the proprietor, partners or directors.
• Proof of residence ownership and stability.
• Business vintage proof, such as a trade license.
• Proof of income, such as a bank statement, ITR, financial statements or GST returns.
• Collateral documents if you apply for a secured loan.

Applying

• Use the online form on the product page. Expect an OTP check and a call back from the bank.
• For questions, call the toll-free customer care helpline, 1800-258-8181.
• Read the rates and charges page before you commit. Each product page links to it.

Good to know

• These are loans you repay with interest, not grants.
• Processing fees apply on each product. Check them on the product page before you apply.

Bandhan Bank is a universal bank with its head office in Salt Lake City, Kolkata. Its About page says the bank was born on August 23, 2015, and that it moved from an NGO to an NBFC before becoming a universal bank. This page covers the three business loans the bank lists for small enterprises and small business owners.

Loans for small enterprises

The Aspiring Business Loan is for micro and small enterprises that need working capital, a term loan or a composite loan. The bank says it can be taken with or without collateral, with a flexible tenure of up to 12 years. The business must have at least 2 years of vintage. Repayment is by EMI, collected through standing instructions or e-NACH, and a relationship manager is available during processing.

Loans for income-generating activity

The Sahayata Loan is for individuals who run a business or another income-generating activity, including agri-allied work. An applicant can apply alone or jointly with a family member. The applicant and any co-applicant must be at least 20 years old, and the maximum age at maturity is 65 years. Tenures are 12, 18, 24 or 36 months, and the bank describes doorstep banking with biometric authentication for disbursement.

The Srishti Loan is a group-based individual loan for home-based businesses that want to expand. The bank lists uses such as hiring staff, upgrading equipment and buying raw material. The borrower must be at least 18 years old at disbursement and engaged in a defined income-generating activity. Holders of a Bandhan Bank savings account get quicker approval and disbursement, according to the page.

What you need to provide

For the Aspiring Business Loan the bank asks for KYC of the business and of the proprietor, partners or directors, proof of residence ownership and stability, business vintage proof such as a trade license, and proof of income such as a bank statement, ITR, financials or GST returns. Secured products also need collateral documents. The bank notes that the documents required can vary with the loan amount, the property type and legal requirements. The Sahayata Loan asks for identity proof, residence address proof, a passport size photograph and a PAN card.

Who else the bank lends to

The bank also lists loans for medium and large businesses, top-up loans for existing micro loan borrowers, and other-purpose loans for existing micro loan customers. Those are not covered here, and nor is its agri loan.

How to apply

Each product page has an online form that asks for name, email, mobile number, pincode, city and organisation name. The bank verifies the mobile number with an OTP and says it will get in touch shortly. A toll-free customer care helpline, 1800-258-8181, is also listed on the contact page.

Head office

The head office is at Floors 12-14, Adventz Infinity@5, BN 5, Sector V, Salt Lake City, Kolkata, with pincode 700091. The registered office is at DN 32, Sector V, Salt Lake City, Kolkata 700091.