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Business Loan

Bank/NBFC

Interest Rate

Processing Fee

Loan Amount

Tenure Range

18% 1.50% 50 lakh 48 Apply Now
20% 3% 10lakh 60 Apply Now
12.90% 0.99% 40lakh 60 Apply Now
13% 2% 2crore 60 Apply Now
1% 5lakh Apply Now
16% 2% 50 lakh 48 Apply Now
15.50% 2% 50 lakh 60 Apply Now
18% 2% 30 lakh 48 Apply Now
18% 2% 1 crore 12 Apply Now
18.30% 0.99% 50 lakh 48 Apply Now

Eligibility

Overview

What is Business Loan?

Businesses need major amount of investment to fund for start-up expenditures or pay for business extensions. For such purposes, companies take out business loans for their financial assistance. It is a debt which a company is obligated to pay back within a specific tenure according to the terms and conditions of the granted loan. Start-up Business loans can be taken for a variety of essential requirements like starting up a new firm, business expansions, dealer and vendor financing etc.

Top Providers for Business Loans in India

Providers Loan Amount Interest Rate Processing Fee
Kotak Bank Rs. 25,000 - Rs. 15,00,000 11.00% onwards 1% of the loan amount
Axis Bank Limited Rs. 50,000 - Rs. 15,00,000 11.49% onwards 1.50 - 2.00
HDFC Bank Upto 50 lakh 18.30% onwards 0.99% of the loan amount

Following documents which have to be submitted to take a business loan: a) Business Proof (Shop Act/ GST Registration/ Old ITR) b) 1 year Bank Statement in which Business Transactions are done c) Residence Proof - Electricity Bill/ Water Bill/Rent Agreement d) Latest 3 years ITR with computation e) Aadhar & Pan Card

Some banks have a lock-in-period of six months to one year for the business loan. While some others allow you to pre-close the loan even after the first EMI has been paid. Some banks may have a rule that a borrower can use his own funds to pre-close the loan and not use the balance transfer facility of another bank. Additionally, some banks allow pre-closure at no cost while some others charge an upfront fee of 2-5% of the pre-closed amount. Clarifications on this are to be sought from our business loan advisor during the processing of your application.

Business loans can be availed for small or large scale businesses. If you are willing to start a new business, expanding the existing business, buy machinery and other capital goods, expand the business operations and purchase equipment you can apply for business loan from your preferred provider.