Afinoz is your one-stop solution to all loan related problems. Tired of visiting different banks to get the best business loans? We can help! Afinoz has access to all the leading banks, NBFCs and other financial institutions. Choose from a wide range of business loans. Search, compare and apply for the best services as per your terms, hassle-free.
Use our Loan Eligibility calculator to find out the amount you can borrow from.Use our online calculator to calculate your EMI.
Avail a business role to scale your business. Add an extra boost to your operating cost and fund your dream. Give your business a head start and capital boost by availing of our Business Loans at affordable rates.
You can apply for a business loan if you need capital to start a new business or secondary units for your existing business. There are many banks & NBFCs that offer loans up to 50 lakhs, with or without collaterals and with pre-approved offers. The rate of interest applicable and tenure offered for the loan depends upon several factors such as your credit rating, the profitability of the business, future growth potential etc.
Establish your eligibility and get the funds hassle free. It depends on the bank and the amount of risk they are ready to take on a particular business. It also depends upon whether the loan is for an existing business or to start a new one. There are many banks & NBFCs in India that offer loans for both small and big businesses. Getting approval & disbursal is possible within a few days, if you have all the essential documents and you meet the eligibility criteria. Given below is the list of generic eligibility criteria required to apply for a business loan in India.
There are many factors that are considered while determining your eligibility for a business loan. Every bank or lending institution that offers you a loan will look into many aspects prior to sanctioning the loan. Few important ones are provided below:
There are different types of customers for business loans. Some are individuals who are self-employed or salaried and others are entities or companies. A large bank will cater to both these types of customers. The eligibility criteria, interest rates, processing charges, tenure and other features extended by a bank will vary from customer to customer. Therefore, while applying for a business loan, check which category of customers you belong to and check your eligibility accordingly.
Each bank has its own specific set of requirements, criteria and eligibility factors. Here is a general list of documents and information required from you to process your loan application:
Business Loan Interest rates & other charges applicable on a loan depend upon the health of the firm i.e. annual turnover and profitability amongst other factors. Has the entity been growing, reducing in size or been at the same level for the past few years? What is the amount you are looking to raise as debt? How many years are you planning to avail it for? How is the promoter’s credit history? Has he / she ever defaulted on any debt, credit card payments etc.?
We, at Afinoz, can assure you that we will get you the best interest rate available & possible ,considering all the above-mentioned factors.
Business Loan Interest Rates*
|SBI||11.20%-16.30%||Upto 2 to 3% of the total loan amount + GST|
|PNB||12.60% - 15.60%||Upto 0.90% - 1.80% of the loan amount + GST|
|HDFC||15.65 % to 21.20%||Up to 2.5% of loan amount + GST|
|ICICI||16.49% TO 18.99%||Up to 2% of loan amount + GST|
|Bank Of Baroda||14.10%||UP to 1% of the loan amount|
|Axis||17% to 20.00%||Up to 1.25% of loan amount + Service Tax|
|TATA Capital||19% to 24%||Up to 2.75% of the loan amount + GST|
|RBL bank||20% to 22%||3% of loan amount|
|Indusind Bank||18.20% to 20.20%||2% of the loan amount|
|Kotak Mahindra||16% to 19.99%||3% of the loan amount|
|Fullerton India||13% to 33.5%||6.5% of the loan amount|
|Bajaj Finserv||18% to 35%||Up to 3% of the loan amount|
|IIFL||16% to 26%||Up to 3% of the loan amount|
|MUFIN Finance||13% to 28%||Up to 3% of the loan amount|
|Incred Finance||16% onwards||2% to 5% of the loan amount|
|Prest loan||18% to 26%||3% of the loan amount|
|LendingKart||15% to 27%||Up to 2% of the loan amount|
|HDB Bank||18% to 20%||Up to 2% of the loan amount|
|Aditya Birla Finance||14% to 21%||2% of the loan amount|
|Vistaar Finance||15% to 29.25%||2% of the loan amount|
|Neo Growth||18% to 24%||2% of the loan amount|