Compare Business Loan

Business Loan

Take your business to the next level with Afinoz Business Loan. Get your funding up front, flexible terms. No prepayment charges, fixed monthly payments. Get quotes from a number of lenders.

Compare Business Loan

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OVERVIEW

LOWEST INTEREST RATE

LOAN TENURE

MAX.LOAN AMOUNT

PROCESSING FEE

PARTPAYMENT CHARGES

FORECLOSURE CHARGES

OVERVIEW

LOWEST INTEREST RATE

LOAN TENURE

MAX.LOAN AMOUNT

PROCESSING FEE

PARTPAYMENT CHARGES

FORECLOSURE CHARGES

The Best offers we can find in Comparing Interest Rates with Fees and Charges

Top 10 Banks offering Business Loan 2021

Here is a list of the top 10 business loan banks on the basis of their respective features. If you wish to avail a business loan in 2021. Major Banks that offer business loans are as under:

Bank Name Eligible Loan Amount Rate of Interest
HDFC Bank Up to ₹ 50 Lakhs 15.75% onwards
ICICI bankUp to ₹ 40 Lakhs16.50% onwards
IDFC Bank Up to ₹ 9 Lakhs 19% onwards
Axis Bank Up to ₹ 50 Lakhs 11% onwards
Yes Bank Up to ₹ 50 Lakhs 15.50% onwards
Kotak Mahindra bank Up to ₹ 75 Lakhs17% onwards
Why would one require to compare business loans?

There are many business loan lenders across India and so are the business loan offers.An applicant needs to compare the products on the basis of respective interest rates, repayment period, top-up and other facilities. A slight difference can make a significant change in terms of the overall cost of availing the loan.

Here are 5 small tips that one must consider while comparing loans –
  • Consider the overall application process, as many institutions offer instant online application
  • Check various eligibility criteria, as the loan amount depends on various factors defined under eligibility
  • Make sure you check all available discounts & offers, good credit history can fetch you lower rate of interest
  • Explore business loan offers which come with balance transfer and top-up facility
  • Contact your existing bank and ask for pre-approved business loan offer
  • 4 Tips to find the best loan –

    Finding a loan has never been easier before, finding the best and most suitable loan is now at your fingertips. Here’s how;

  • Compare all available offers
  • While applying for a fresh loan, you must check and compare all available options as every bank has a unique way of profiling an applicant which might affect the overall cost of a loan

  • Assess your running expenses
  • Before applying for a loan, calculate other recurring expenses to make necessary adjustment for the EMI payments. Also apply for a loan amount in line with your expenses and only for the amount required

  • Compare additional expenses on your loan
  • While applying for a loan, one must always check for additional charges and fees that come along with the interest expense on the loan. Most lenders provide relaxations depending your current profile and credit history

  • Choose the right repayment tenor
  • Different lenders might provide you with various repayment tenures, longer tenure may cost less as EMIs will be smaller but over the period of repayment interest expense will be high, however shorter tenure will cost less interest but the EMIs will be much higher

    Top 10 NBFCs from business loan

    NBFC Name Eligible Loan Amount Rate of Interest
    Tata CapitalUp to ₹ 50 Lakhs19% onwards
    BajajUp to ₹ 30 Lakhs 18% onwards
    Arthan FinanceUp to ₹ 20 Lakhs 30% onwards
    Lendingkart Up to ₹ 2 Crores 18% onwards
    Neo GrowthUp to ₹ 8 Lakhs24% onwards
    LoanTapUp to ₹ 5 Lakhs20% onwards
    How to get the best business loan interest rate?

    Business loan interest rates are flexible and the institutions can offer different rates to different people depending on their overall profile. Here are some factors that can provide best business loan interest rate from your bank;

  • Maintain a good CIBIL score, as a good credit history can reduce the interest rates significantly.
  • Apply for a loan amount according to your net monthly income, improves your chances of availing low-cost EMI.
  • Maintain a good relationship with your existing bank, loyal and old customers are first on the list for customized loan offers.
  • Either you are salaried or self-employed, be clear about your utility, business loan for medical emergencies are offered for different rates as compared to loans for leisure.