Business Loan
Business Loan Interest Rate
| Interest Rate | 14.00% onwards |
| Processing Fee | Upto 3% of loan amount |
| Loan Tenure | Upto 5 years |
| Lowest EMI per lakh | ₹ 2,327 for 5 years |
- Option to get direct call from HDFC Bank, ICICI Bank
- Check Best Offers starting @ 14.00%
- Compare and get the cheapest business loan offers for self employed individuals
- Option of Flexi loans and nil prepayment charges are also available
- Apply business loan online without any security or collateral
Apply for Business Loan @ 14.00%*
Learn More About Business Loan
What is a Business Loan?
Business loans are a crucial tool for many entrepreneurs and small business owners. They provide access to the capital needed to start, grow, or expand a business. In today’s competitive business landscape, having access to financial resources can make the difference between success and failure.
At PCA, we understand the unique challenges and opportunities facing small businesses. We offer a range of business loan options, including term loans, line of credit loans, and equipment financing, to help businesses access the capital they need to thrive.
Our business loan process is simple and straightforward. We take the time to understand your business and its unique needs, and we work with you to find the right loan product to meet those needs. Our team of expert loan advisors will guide you through the application process, providing personalised support every step of the way.
Our business loan rates are competitive, and we offer flexible repayment terms to help businesses manage their cash flow and avoid financial strain. We also provide ongoing support and resources to help businesses manage their finances and grow their businesses.
Whether you’re looking to start a new business, expand an existing one, or invest in new equipment, our business loan options can help you reach your goals. With our expert support and competitive rates, we’re here to help your business succeed.
If you’re ready to take the next step and apply for a business loan, visit our website or contact our team today. We’re here to help you access the capital you need to grow your business and achieve your dreams.
Compare Best Business Loan Interest Rates of All Banks 2021
| Bank | Interest Rates | Processing Fee |
|---|---|---|
| SBI | 7.25% onwards | Up to 1% |
| HDFC Bank | 11.90% - 21.35% | Up to 2.50% + GST |
| ICICI Bank | Up to 11.10% | Up to 2% + taxes |
| PNB | 6.90% onwards | Up to 0.50% |
| Bajaj Finserv | 17% onwards | Up to 2% + taxes |
| Bank of India | 9.70% - 15.45% | Depends on scheme |
| IDFC First Bank | 14.5% onwards | Up to 3.5% |
| Central Bank of India | 7.10% - 13.35% | Depends on scheme |
| Kotak Mahindra Bank | 17% onwards | Up to 2% + taxes |
| Axis Bank | 9% - 18.50% | Up to 2% + taxes |
| Federal Bank | 9.20% - 16% | Up to 1% |
| IndusInd Bank | 13% - 22% | Up to 3% + taxes |
| Indian Bank | 8.10% - 14.55% | Up to 1.15% |
| South Indian Bank | 7.25% - 16.75% | Up to 2% |
| HSBC Bank | 7.5% onwards | Nil |
Feel free to use our EMI Calculator
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
Types of Business Loans:
Secured Loans for Businesses: A secured loan for business refers to a loan that is secured by collateral, such as property, equipment, inventory, or other assets. This means that if the borrower is unable to repay the loan, the lender has the right to seize the collateral as compensation. Secured loans tend to have lower interest rates and more favourable terms for borrowers, as the lender has the added security of the collateral. This type of loan may be a good option for businesses that may not qualify for an unsecured loan, or for those looking to borrow large amounts of money.
Unsecured Loans for Businesses: Unsecured loans are those that are given to business owners or self-employed individuals without any collateral being required. These types of loans can be useful in a variety of circumstances, such as when a business needs short-term funding to meet orders or cover expenses due to a customer not paying on time, or to pay off high interest loans from friends or lenders. In this article, we will provide information on unsecured loans. For information on secured loans, connect with our experts today.
Eligibility Factors:
Banks consider various factors in order to determine a borrower’s creditworthiness and their loan amount eligibility limit. These factors include the following parameters, which allow us at Premier Capital to estimate the loan eligibility, amount of loan, and interest rate for a borrower.
| Parameters | Eligibility Criteria |
|---|---|
| Eligible Entities | ● Self-employed non-professionals - Sole proprietors, partnership firms, private limited companies, public limited companies involved in the business of manufacturing, trading, and services.
● Self-employed professionals - Doctors, CA, CS, Architects. |
| Age | 21 - 65 years |
| Loan Amount | ₹ 50,000 to ₹ 0 |
| Interest Rate | 14.00% - 24.00% |
| Loan Tenure | Up to 5 years |
| Business Vintage | For self employed professional - 3 years For self employed businessmen - 5 years |
| Annual Turnover | ₹ 1 Cr and above |
| Banking Stability | 6 months and above |
| CIBIL Score | 650 or above |
| Other Eligibility Conditions | Borrower should have a self owned house or work place |
*The above-mentioned eligibility factors may vary from bank to bank