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how much time does it take for commercial loan to pass in india? - wreslinga2 - 12-16-2012 01:16 PM
i am currently studying in germany.i will join microsoft this year with a good salary.i want to open up a show room in kolkata(my hometown).
can anyone please tell me how much time does it take to pass a commercial/professional loan worth 1-1.2crore for 5-6years and what will be the approx interest rate.i am willing to give my showroom papers as security.
plz reply.
- not_so_gud - 12-16-2012 01:24 PM
its really depend upon the bank....
generally govt bank takes lotsa time and verification document to pass but their interest rates are comparatively lower than private banks...
plus private banks have too many hidden costs and condition which can make u suffer later....(my experience)
better you google the interest rates for different banks..
their are many sites available for that....
- Praveen - 12-16-2012 01:24 PM
depending on the soundness of your documents and business plan along with soundness of your repaying ability it may take 15-20 days.
I have a fellow financial consultant in Kolkata who may help you. I may be able to give his contact information on private mail only.
SME's can also follow SME_Consultant at twitter for answers.