Business Loan

Business Loan Interest Rates

Bank	Loan Rates	Processing Fee
SBI	11.20%	2%-3%
HDFC	11.90%	Rs. 499
ICICI	16.50%	.99%- 2%
RBL	16.25%	1.80-2.20%
Tata Capital	19.00%	1.50%-2.50%
Bajaj Finserv	18.00%	Upto 2%
IDFC First Bank	22.00%	2.00%
Kotak Bank	16.00%	Max 2%
Fullerton	17.00%	2%
BOB	14.10%	Upto 1.00%

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Trusted Clients

4. 1 /5

Customer Rating

Hrs

Processing Time

60 Sec

Response Time

10 + Years

Experience Team

90 %

Successful Cases

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12 Years of
Advisory Experience

.99 %

RATES AS LOW AS

Upto 20 Years

Long Term Loan

Upto 1 M

Amount of Credit Given

Types of Business Loans

Secured Loans for Businesses

These loans are those which are taken against some type of personal guarantee or any valuable asset as collateral. Inventory loans, equipment loans, term loans and loan against property are secured business loans.

Unsecured Loans For Businesses

In many situations, businessmen and self employed prefer to take unsecured business finance with no collateral requirement because of the following reasons:

Short turnaround time of 5 -15 days as compared to secured loans
No collateral or security required to get this loan
Reduces your dependence on friends, relatives or money lenders for borrowing for urgent or seasonal business expenses

This page contains detailed information about business loan without collateral. To know about secured business loan, you can visit our loan against property page

Factors That Determine Eligibility for Business Loan Are

Eligible Age – Banks consider borrowers with age of 21 years to 65 years
Loan Amount – Loan amount of ₹ 50,000 to ₹ 100 Cr can be availed on business loan. Higher the loan amount, higher the chances to get low interest rate.
Loan Tenure – Business loans are unsecured loans and are given for a shorter period. Generally, these loans are given for a tenure of 1 year to 5 years.
Income Tax Returns (ITR) – A self employed can get a business loan, only when it has filed regular ITRs for the past few years. Banks consider borrowers who have filed ITRs of 2 years or more as eligible to get a business loan. Banks evaluate your monthly income and repayment capacity based on details submitted in the ITRs.
Revenue / Turnover – Revenue is the income that a business enterprise has earned from the sale of goods and services to customers. It is also termed as sales or turnover. In case of doctors, this sales or revenues is measured in terms of Gross Annual Receipts. Most banks and NBFCs ask for a minimum annual turnover of ₹ 1 Cr to be eligible for business loans without collateral. However, there are a few NBFCs and banks which lend to businesses or self employed with turnover of less than Rs. 10 lakh as well.
Business Vintage and Growth – Business vintage and growth is an important factor consider by banks and NBFCs to take a decision to give you loan. It gives the bank or NBFC an assurance that your business is authentic, stable and can generate profits to repay their loans. Banks typically look for a business stability or profitability of minimum 3 years for self employed professionals. In case of other businessmen, banks and finance companies require a minimum business continuity or existence of 5 years Banks and NBFCs also specify the minimum growth rate of 10-15% in sales or turnover for the last 3 years to be eligible for a business loan. Further, your business or enterprise should be profitable in the last 3 years.
Banking Stability – Banks and NBFCs a check bank statements of minimum 6 months of your operational banking accounts to approve your loan. Banks will evaluate your banking stability and repayment capacity based on your average account balance. Banks will also consider your outbound and inbound cheque bounce information to take a view on your credit track record.

Documents Required for Business Loan

Signed Application Form
Identity Proof (PAN)
Residential Address Proof
Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.
Last 12 months bank account statement (self and business)
Certificate and Proof of Business Existence
Business Profile
Office address – ownership/ lease / rent agreement/ utility bill

Home Loan

Personal Loan

Loan Against Property

Basic Eligibility Criteria

OUR
PARTNERS

OUR PARTNERS

LOAN PROCESS

Step 1

Fill Out The Form in the Website

Step 2

Submit The Required Documents

Step 3

Documents & Credit Score Verification

Step 4

Loan is Credited To Your Account

feedback

What our clients say

All the services provided by eMax at the time of applying for a loan against property were fantastic. Be its quick turnaround time, fast processing, excellent guidance, etc. The entire… Read more “1”

Mr Aaditya

The team of professionals that I interacted with during my loan application at eMaxloans had superb product knowledge and were very considerate of clarifying all my confusions and doubts instead… Read more “2”

Mr Udit

I sincerely appreciate all the efficiency and efficacy with which the team of financial experts at eMaxloans handled my case. From start to the very end, my loan application went… Read more “3”

Mr. Rahul

I would like to thanks the entire team of eMaxloans for the wonderful service experience accorded to me during my loan application procedures. I am incredibly pleased with the quick… Read more “4”

Mr. Gouri

Hiccups are part of every business and when they get linked to the crunching finances, finding a quick resolve becomes a necessity. There was a time when our organisation was… Read more “5”

Mr Razdan

I got the credit for my loan amount as requested for within the time promised by the team. Kudos to Avdesh and his entire team off financial experts at eMaxloans… Read more “6”

Mr. Bhushan

Business Loan Interest Rates

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