Knowledge Center
Benefits of EZO Business Loan
Procedure to Apply for Business Loan Online
1. Check your Business for loan Eligibility
2. Submit an Online Application
3. Get Sanctioned
4. Receive Funds within 3 days
Eligibility of EZO Business Loan
| Eligibility Criteria | Description |
| Age: | 21 to 65 years |
| Minimum Turnover: | ₹ 6,00,000 |
| Business Existence (in months): | 6 months |
| ITR (months): | 24 months |
| Loan Amount: | ₹ 50,000 to ₹ 1 Cr |
| Loan Tenure: | 36 months |
| Owned House or Place of Work: | Not Required |
| CIBIL Score: | 750 and above |
Documents Required for EZO Business Loan
- Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
- Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
- Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
- Copy of Income Tax PAN for 24 months
- Bank statement of last 6 months
Types of Business Loans
There are various types of loans available in market which business can avail, depending on the credit requirement, risk, repayment period, eligibility these loans are categorized :
- Term Loans
- Working Capital loans
- Equipment financing
- Invoice financing
- Business lines of Credit
- Micro Loans
- Commercial Real Estate Loans
FAQs
Why to take business loan from EZO ?
Bank offers loan at 18.00% rate with the lowest EMI of ₹ 3,615 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to EZO Business Loan.
What is the interest charged on EZO Business Loan business loan?
Interest rates on Business loan in EZO are very attractive starting from 18.00% to 27.00%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.
What is the lowest EMI per lakh on business loan from EZO?
If you apply for loan from EZO, your lowest EMI per lakh will be ₹ 3,615.
What is the minimum and maximum tenure of business loan in EZO?
These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 1 months to maximum 36 months.
How much business loan amount can I borrow from EZO?
EZO Business Loan offers you a loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 1 Cr.
What is the processing fee charged by EZO on business loan?
EZO Business Loan charges a processing fee of 2% of loan amount with applicable tax.
Is age an eligibility factor to get a loan for business from EZO?
Yes, age is an important eligibility factor to get a loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.
What are the prepayment charges on business loans from EZO?
Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by EZO is Nil foreclosure charges.
