Business Loan interest rates starting @ 10.50%
Business Loan Guidelines
Applying for Business loans online or offline requires the borrower to submit a list of documents as demanded by the loan provider. Documents required for home loan vary as per the employment type of the individual, i.e. self-employed, Businessman
- Recent Passport-sized Photographs
- Identity Proof – PAN card, Aadhaar card. Valid passpoirt. Voter’s ID card, Driving License
- Address Proof – Voter’s ID card, Aadhar card, Passport, Driving license, Utility bill, Water Bill, Electricity Bill
- Business Address Proof
- Proof of business existence for last 3 years
- Last 6 months’ bank statement
- Last 3 years’ Income Tax Return fiTR,
- Balance sheet and Profit 8, Loss account statement
- Financial documents audited/attested/signed by Certified CA
- Copy of Trade License
- Sales Tax Certificate
- Certified Copy of Partnership Deed
- GET Registration Certificate Proof of ownership of the possessions used for business activities.
| Type of Applicants | Proprietors, Private Limited Company, Self-employed individuals and professional and Partnership Firms |
|---|---|
| Applicant Age | Between 21 and 65 Years of Age |
| Residual Property Period for Rented Property | 3 Years |
| Minimum Business Functioning Time Period | 3 Years |
| Minimum Business Experience | 5 Years |
| Minimum Business Turnover | Rs. 40 Lakh |
| Minimum Profitable Time Period | 2 Years |
| Minimal Annual Income as per ITR | Rs 1.50 Lakh |
- Helps to increases the cash flow
- Comes with flexible re-payment tenture
- Higher loan can be availed
- Collateral free loans
- Get preapproved loans from selected lenders
- Availability of short-term loans, as well
- Minimum paperwork
- Quick disbursal
| Bank/NBFC/Fintech | Loan Amount (Min.-Max.) in Rs. | Repayment Tenure (Months) | Interest Rate (p.a.) | |
|---|---|---|---|---|
| Bajaj Finserv | 1 Lakh | 40 Lakh | 3-36 | 15% onwards |
| Capital First Prime | 1 Lakh | 9 Lakh | 12-36 | 21% onwards |
| Fullerton Finances | 1 Lakh | 50 lakh | 12-48 | 17% onwards |
| HDB Financial Services Ltd. | 75,000 | 30 Lakh | 12-60 | 15.5% onwards |
| HDFC Bank | 75,000 | 50 Lakh | 6-48 | 15% onwards |
| Hero FinCorp | 3 Lakh | 35 Lakh | 12-36 | 18% onwards |
| ICICI Bank | 1 Lakh | 40 Lakh | 6-48 | 15% onwards |
| IIFL Bank | 1 Lakh | 7.5 Lakh | 12-36 | 25% onwards |
| Indifi Finance | 1 Lakh | 50 Lakh | 12-36 | 22% onwards |
| Kotak Mahindra Bank | 5 Lakh | 75 Lakh | 6-48 | 16% onwards |
| Lendingkart Finance | 50,000 | 2 Crore | 3-36 | 15% onwards |
| NeoGrowth Finance | 2 Lakh | 10 Lakh | 6-24 | 24% onwards |
| Paysense Services India Pvt Ltd | 5000 | 5 Lakh | 3-36 | 24% onwards |
| RBL Bank | 2.5 Lakh | 20 Lakh | 12-36 | 16% onwards |
| Tata Capital Finance | 3 Lakh | 50 Lakh | 12-36 | 17% onwards |
| Yes Bank Working Capital | 30 Lakh | 3 Crore | As per applicant’s profile | 10% onwards |
| ZipLoan | 1 Lakh | 5 Lakh | 6-24 | 24% onwards |