Protium, the Mumbai-based financial services company, provides instant business loans with an end-to-end digital disbursal process that includes just three steps. The loan amount of Protium business loan ranges from Rs 50,000 to Rs 35 lakh and the financial services company has no hidden charges.
On Protium bank official website
Updated: 31-05-2024 04:09:06 PM
| Loan Amount | From Rs 50,000 to Rs 35 Lakh |
| Rate of Interest | Starting from 16% p.a. |
| Repayment Tenure | 1 to 3 Years |
| Processing Fee | Starting from 1% |
| Minimum Business Turnover | Rs 10 Lakh p.a. |
| Age of the Applicant | 22 to 60 years |
| Credit Score | Over 650 |
| Impaired Loans History | Customer should not have more than one 90+DPD in last 36 months |
| Average Daily Bank Balance | Rs 5,000 |
| Type of Company | Proprietorship Firm, Partnership Firm, Limited Liability Partnership, Private Limited Companies |
| Foreclosure Charges | Protium Finance charges up to 6% of the principal outstanding amount as a foreclosure fee. However, no foreclosure is not allowed for Protium business loans within the first 12 months of availing loan. |
| Loan Cancellation Charges | A fee of Rs 10,000 is levied on loan cancellation. Over and above this, Protium Finance also collects the interest amount accrued from the date of the loan disbursement till the date of loan cancellation. |
| Cash Collection Charges | Repayment of loan in cash attracts an additional fee of 1% of the receipt or collected amount. |
| Modification of Loan Terms | In order to modify the terms of the Protium business loan, the financial services firm can charge up to 2% of the outstanding principal amount. |
| Late Payment Penalty | All deferred and missed repayments, Protium Finance charges a fee of 2-3% per month of the overdue installment amount. |
| PDC/ ECS / NACH Bounce Charges | Payments disobeyed through a post-dated cheque (PDC), National Automated Clearing House (NACH) and Electronic Clearance Service (ECS) attract a penalty of Rs 750. |
All the Protium business loan customers can contact the customer care of Protium Finance Ltd on the customer support toll-free number 18008432466 or at [email protected]. Alternatively, the customers can also contact Protium Finance Ltd at +91-8828820004 or [email protected].
Protium Finance Ltd Mumbai Office Address: 7th Floor, Block B2, Phase – I, Nirlon Knowledge Park, Pahadi Village, Off. Western Express Highway, Cama Industrial Estate, Goregaon(E), Mumbai, Maharashtra 400063.
Protium Finance Ltd Bengaluru Office Address: 244, 2nd Floor, Fortune Summit IT Park, Hosur Rd, Muneswara Nagar, Roopena Agrahara, Sector 6, HSR Layout, Bengaluru, Karnataka 560068
Get Kotak Mahindra Bank Business Loan up to Rs. 2 Crore online at interest rate starting from 16% p.a.
The rate of interest on Protium business loans begins from 16%. The applicable interest rate for different loans can vary on the basis of different customer profiles, distinct company financials, age of the applicant and the type of company.
All firms under the corporate framework of Proprietorship Firm, Partnership Firm, Limited Liability Partnership and Private Limited Companies are eligible for Protium business loan.
The maximum repayment tenure for Protium business loans is up to 3 years.
The EMIs for Protium business loans can be paid online by clicking on the Pay Now button through its webpage or mobile application. The borrower is required to validate the identity by requesting an OTP on the registered mobile number.
