Prest Business Loans 2022

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Prest Business Loans 2022 Highlights

Prest Business Loans - Check benefits, eligibility, Interest rates and How to apply at Afinoz.


About Prest Loans

Prest Loans is a new age Fintech NBFC (Non-banking financial service and wealth Management Company). It is a New Delhi based NBFC company which was acquired by a financial market professional Ashok Mittal from its pioneers Sunil Bansal and Anil Bansal for a worth of Rs. 2.5 crore. The company raised Rs. 37.10 million capital in the year 2017.

Prest Loans business loan

Prest business loans can also be availed against any collateral or security which has a good market value and is freely transferable. Prest Loans offers unsecured Business loans as well as short-term and long-term business loans to new or existing businesses, including MSMEs units (Micro, Small or Medium Enterprises). It also provides flexible loan tenure as per the business needs and cash flow demands

Therefore applying for a Prest Loans business loan through makes the process of application and approval of loans from Prest Loans much easier and quicker. By availing the benefits of Prest business loans through, business owners can achieve their dreams of making their business more profitable and productive.

Interest Rates of Prest Business Loan

Prest loans business loan interest rates

Interest Rates
  • The rate of interest is based on your credit score, the higher is the score, the lower is ROI.
  • It also depends if you are providing any collateral for the loan, in case of collateral, the ROI comes down
Loan tenure
  • Short-Term Loans: 1 to 3 Years
  • Long-Term Loans: Up to 10 Years
Processing Charges

3% on your business loans for the loan amount sanctioned.

Prepayment No prepayment permitted until the repayment of minimum 6 months EMI
Prepayment charges 4% of the Principal Outstanding Amount + GST
No Dues Certificate/ No Objection Certificate(NOC) Rs. 150 + Service Tax
Penal Interest 2 % per month on the overdue installment amount

Special Note: Rates are subject to periodic change. Business loan interest rates in Prest Loans and other fees and charges are subject to regular review and can vary from customer to customer depending on a number of factors ranging from credit score to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with Prest Loans, etc.

Prest Business loan Eligibility Criteria

Any Indian citizen having his own business and having residual income and the ability to repay the loan is eligible for Prest Loans business loans. Other parameters that a loan seeker must satisfy in order to be eligible for getting a business loan for their business are mentioned below:

  • Age: Minimum age at the time of application of loan should be 21 years; Maximum age at the time of maturity should be 65 years
  • Business Continuity: The business should have been well-established and should be up and running for more than 2 years
  • Turnover: The minimum gross income of the company should Rs. 2.5 lakhs per annum
  • Work Experience: Minimum 2 years of experience in the current line of work for Self-employed individuals
  • You should have a self-owned residential premise or business
  • CIBIL score: Loan approval will be difficult if your CIBIL score is low. In some cases, even if your credit score is low, but your business is doing good then your loan application might get approved, but you might be asked to pay a high interest rate and will be offered many unfavorable terms and conditions on your loan.
  • Prest Loans business loan eligibility calculator: Using the business loan EMI calculator and business loan eligibility calculator at you can easily calculate the exact amount of your monthly installment and your eligibility as per your potential.

Prest Loans Business loan Documents Required

A business loan entails the simplest form of documents which can vary slightly for different types of companies like proprietorship firms, private limited companies, and partnership firms. Thus, for obtaining the maximum amount of loan, a borrower should produce the documents according to their business loan tenure as follows:

Documents for Short Term Loans

  • Application form with a recent photograph of all co-applicants
  • PAN card/Form 60 - For applicant/co-applicant/guarantor
  • Address proof - For entity, partners/proprietors/directors, security providers, and guarantors
  • Financial Documents: Copy of ITR/P&L and balance sheets of the last 2 years as documented and verified by CA
  • Bank statement: Last 12 months bank statement
  • Existing Loans: If you have any existing loan or an overdraft, then the sanction letter of that loan/loans along with its repayment records or account statement
  • Proof of business ownership: Certified copy of Proprietorship deed/ Service tax certificate/Tax bill/Certificate of Shop and establishment

Documents for Long Term Loans

  • Application form with a recent photograph of all co-applicants
  • PAN card/Form 60 - For applicant/co-applicant/guarantor
  • Address proof - For entity, partners/proprietors/directors, security providers, and guarantors
  • Financial Documents: Copy of ITR/P&L and balance sheets of the last 2 years as documented and verified by CA
  • Bank statement: Last 12 months bank statement
  • VAT / Sales tax returns / GST challans for the last 12 months certified by a CA
  • Property Papers: Residential or Business premises property papers in the name of self or immediate family members
  • Registration proof of the company
  • Existing Loans: If you have any existing loan or an overdraft, then the sanction letter of that loan/loans along with its repayment records or account statement

Features and benefits of Prest Loans business loan

With Prest business loans you can take advantage of Flexible EMI plans, higher loan amount and flexible tenure options. Although, the quantum of the business loan offered by Prest Loans to its customer depends on a lot of factors such as profits generated by the business in the last 3 years, borrower’s credit history, etc. including their business requirements. The following are the various features and benefits which a customer can avail when applying for a business loan to fulfill their financial needs:

  • Online eligibility check: Check your eligibility for availing a business loan online as per your requirements within a minute
  • Quick disbursal: Loans are usually disbursed within 24 hours to 3 working days of approval based on your credit history and the loan amount
  • Prest Loans offers collateral-free business loans based on EMI’s
  • You can avail a business loan up to Rs. 25 lakhs without providing any collateral/security/guarantor
  • Quantum of Loan: Maximum loan amount:
  • Short-term loans: a Loan amount of up to Rs. 5 lakhs
  • Long-term loans: a Loan amount of up to Rs. 25 lakhs
  • The maximum amount of business loan that can be sanctioned depends on the quality and size of your business including the profits being generated per year
  • Flexible tenure: Prest Loans provides flexibility to its customers in the form of loan tenures which can range from 1 to 3 years for short-term loans and up to 10 years for long-term loans
  • Provides a high level of transparency to its customers about the charges involved at each step of the loan process
  • Very low processing fee of around 3% of the loan amount is charged while taking a business loan from Prest Loans
  • Easy and simple documentation
  • No hidden charges
  • Zero foreclosure charges
  • Flexible Interest Rates: If you have a higher credit score or if you provide a collateral/security for the loan, then you will be charged a lower interest rate on your business loan by Prest Loans. It is always advisable to calculate your cost versus benefit ratio, before availing any business loan.
  • Very low pre-payment charges

Prest Loans business loan eligibility and Prest Loans business loan interest rates can be easily evaluated through and seen on Afinoz’s website. If there is any query about Prest Loans business loan application, you can log on to or give us a call at +0120-411-0376 or mail us at and get all the solutions at one go.

Why Afinoz?

What is is India's foremost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on + 0120-411-0376 or by emailing at provides solutions which are quick, reliable, transparent, confidential and above all free.

Why should you apply for a Prest Loans business loan through Afinoz? is India's finest personalized financial market place. We have created a business loan platform which lets you choose the best business loan that meets your requirements from the multiple options that are available to you.

  • Instant Approval - Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 business days.
  • Real-time application tracking - Keep track of your application status in real-time with a unique transaction id which is generated at the time of loan application submission on our website. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
  • Online eligibility check - Do all your dealings with the bank online. You have to provide your basic information and our online business loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Prest Loans for financing your business.
  • Secure Environment - has built-in security for your personal information which is stored in a secure environment on our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secured and scripted.
  • 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to any bank, NBFC or financial institution to discuss the various terms and conditions.
  • No third-party agent - online loan application process is free of any unwanted expenses and delays. One can approach a bank online directly through Afinoz without approaching any agent.
  • Free quotations - Get the best online deals on Prest Loans business loans and free unbiased quotes on business loan interest rates. All you have to do is to select the loan amount you want to borrow and the tenure you want it for. You will get a targeted online quote within minutes of application.

How to apply for Prest Loans business Loan on Afinoz?

Prest Loans has an exclusive tie-up with If you are looking for a business loan then you can simply log on to to check your business loan eligibility and apply for a loan.

Business owners can apply for a loan in Prest Loans through in the following three simple steps:

  1. Check your eligibility for a business loan - Firstly, you need to make sure you meet all the Prest Loans business loan eligibility criteria on For that, you have to submit some basic details relating to you and your business such as the employment type, business turnover, city, mobile number, email id on our business loan eligibility page. Once you submit these details, our system intelligence then runs an algorithm and get's you a quick quotation on the best business loan options available to you immediately.
  2. Select the loan amount and tenure - Once you meet the eligibility criteria, select the loan amount and tenure as per your eligibility and submit.
  3. Upload and submit documents - In the next step, fill out the application form along with details of the KYC documents and submit your application for processing from Prest Loans. The bank then verifies the applicant's information and starts processing the loan for disbursement.

At each step of the application process, allows it's an applicant to keep track of the status of their application in real-time via SMS as well as through emails. Due to such simplified and fast processing, has become the most popular option among a number of business owners.

➤ FAQs

Ques. What kind of businesses does Prest Loans Finance?

Prest Loans helps in assisting all kinds of Micro, Small & Medium Enterprises (MSME), including food processing, e-commerce, printing, textiles, software industries, and professional services.

Ques. How can I find out if I am eligible for the Prest business loan? provides you with an eligibility calculator called business loan eligibility calculator which you can use to determine your eligibility for your quantum of business loan. It will also tell you the amount up to which you can avail this loan.

Ques. Can I repay the business loan early?

Yes, you can pre-pay your business loan after a period of 6 months or repayment of 6 EMIs whichever is earlier or as per the terms and conditions stated by Prest Loans. In case you want to pre-pay your loan before 6 months, a small prepayment fee will be charged by the bank.

Ques. How much time will it take to get the loan disbursed?

Once you fill in and submit the application form online on, the Prest Loans will take 2-3 business days to process and disburse the business loan amount. The sole approval of the loan depends exclusively on the amount you require and the institution.

Ques. What is the maximum amount of business loan that I can avail?

Prest Loans provides a minimum amount of Rs.5 lakhs up to the maximum amount of Rs 25 lakhs as per your needs and your eligibility.

Ques. Do I need to provide any security for availing business loan from Prest Loans?

No collateral/security is needed while applying for a business loan from Prest Loans

Ques. Will my information be safe online? is India’s most committed financial platforms which do not share any of its client data with third parties other than the concerned financial institution/s. All the data is sent online in an encrypted format making it safe and secure at all times.

Ques. What is the maximum and minimum loan tenure for a business loan from Prest loans?

You can avail a short-term business loan from Prest Loans for a period of 1 to 3 years. While the tenure for the long-term business loan ranges up to 10 years.

Ques. How do I repay my Prest business loan?

You can repay your loan in EMIs (Equated Monthly Installments) in the form of post-dated cheques. They also provide the option of payment of only interest while the principal amount can be paid at the time of maturity.

Ques. How can I track my loan application process?

You can log onto our website with the unique transaction ID provided to you at the time of signup and track your application. You can also track your application process through your registered mobile number and email-ID in real-time.

Ques. What is the basis on which the loan limit is decided by Prest Loans?

Loan amount is mainly decided based on your annual income/earnings and your credit history.

Ques. What are the interest rates offered by Prest Loans for a business loan?

Prest business loan interest rates currently range from 15% to 22% For any query about Prest Loans business loan application, you can log on to or give us a call at + 0120-411-0376 or mail us at