Business Loan


What is Business Loan?

As the name Suggest, Banks/NBFCs offer Business Loan without any collateral for the purpose of expansion/enhancement of your existing business.

Rate of Interest

As a Bank/NBFC doesn’t take any collateral, the Rate of Interest in case of Business Loan is generally higher than any other Loan. The Rate of Interest at present varies from 15% to 25% depending on the profile of the customer. However it has advantage of without any collateral & quick disbursement.

Business Loan Eligibility

Business Loan Eligibility depends on the following conditions :-

  1. Your total annual income
  2. Your existing liabilities.
  3. Your total work experience and experience in your current Business.
  4. Financial documents.

* Minimum Age at the time of Application should be 21 years

Banks takes into consideration various factors such as Annual Turnover/Receipt/Commission, Gross Profit, Net Profit, Average Bank Balance, Present EMI and Various other factors .

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Bank/NBFC/Fintech Interest rate (p.a)
Kotak Mahindra Bank 14% onwards
HDFC Bank 16% onwards
Ziploan 16% onwards
FlexiLoans 16% onwards
Axis Bank 17% onwards
Fullerton Finance 17% onwards
Bajaj Finserv 17% onwards
Yes Bank 17% onwards
TATA Captial Finance 17% onwards
ICICI Bank 18% onwards
Lendingkart Finance 18% onwards
Hero Fincorp 18% onwards
IIFL Finance 18% onwards
Indifi Finance 18% onwards
NeoGrowth Finance 18% onwards
RBL Bank 19% onwards
SMEcorner 19% onwards
U GRO Capital 19% onwards
IDFC First Bank 20% onwards
HDB Financial Services Ltd. 22% onwards