Deutsche Bank Unsecured Business Loan

1. Business needs to be in operation for at least 5 years, in the same line of business.
2. The company will need to submit documents such as balance sheets, profit and loss accounts, tax computations, audit reports, and the last 2 years reports from the Directors.
3. Bank statement of 6 months will also need to be provided in the name of the applicant or the business name.
4. KYC documents of partners, proprietors, promoters, or key directors is to be submitted.

Types of Financing available

The Deutsche Bank offers a wide range loans to update and improve business for SMEs

• Unsecured Business Loan
• Personal Loan
• Business Instalment Loan
• Eve's Business Loan
• Guaranteed Emergency Credit Line

Maximum amount & Rate of interest

The minimum loan amount available is Rs.10 lakh and the and maximum loan amount will be Rs.50 lakh under Unsecured Business Loan from Deutsche Bank and the rate of interest is available in 2 types fixed and floating + margin. The default rate of interest is 24%.

Documents required for Unsecured Business Loan from Deutsche Bank

The list of documents you need to submit to apply for an unsecured business loan from Deutsche Bank are:

1. A recent passport size photograph
2. Proof of identity such as PAN Card, driving license, Aadhaar Card, etc.
3. Proof of address such as Registration certificate, utility bills, bank statements with recent transactions of less than two months, etc.
4. Proof of signature such as Passport, PAN Card, etc.
5. Income documents such as profit and loss accounts, tax computations, audit reports, and the last 2 years reports from the Directors.
6. The documents such as Bank statement of 6 months, balance sheets for last two months.
7. Any one of the business documents such as IT or sales tax returns for last three years, advance tax challan for last three years, shop and establishment certificate, etc.
8. Other documents such as customer letter for end use, OD sanction letter wherever DP or OD limit is not mentioned in the Bank statements, Professional qualification certificate, Partnership Deed (for partnership firms only), etc.

Terms for Unsecured Business Loan from Deutsche Bank

The terms for unsecured business loan from Deutsche Bank are:

1. The loan repayment can be done in different terms, such as 12 months, 24 months, and 36 months.
2. There will be a 3% processing fee charge.
3. Rs. 500 charges for any unsuccessful execution on instructions of payment via cheque or ECS bounce charges.
4. Service tax, stamp duty and relevant charges will be charged as applicable.
5. The Unsecured Business Loan from Deutsche Bank also allows for prepayment but only after a period of 9 months. There is no part payment option available.

How do I Apply for this Loan?

Steps to apply for unsecured business loan online:

• Visit the official website of Deutsche Bank and under 'Loans' click on 'Unsecured Business Loan'.
• Click on the 'Apply Now' button'.
• Provide details such as your name, email ID, mobile number, etc. Once you have provided all the details, enter the verification code, and tick the box where you authorise the bank to get in touch with you.
• Click on 'Submit'.
• A representative from the bank will help you further with the application process.

You can also SMS UNSEC to 56165 and a representative from the bank will get in touch with you and help you with the process of applying for a business loan from Deutsche Bank.

You can apply for this loan by going to the closest branch along with all the necessary documents where a bank representative will help you with the process of applying for an unsecured business loan.