Best Banks for Business Loan in India


The demand for business loans is increasing day by day. All low-income businesses only make business loans. If you are willing to take out a business loan you can compare it to the best business loan bank in India. There are some private banks that offer business loans at low interest rates.

Obtain Business Loans from Various Banks in India

First, you need to learn how to get a bank loan for a business. There are many factors to consider before applying for a loan such as interest rate, term of residence and many others. Here are some of the most popular banks that offer low-interest business loans.

HDFC Bank Business Loan


  • Install a loan of up to ₹ 40 Lacs without incurring any guarantee. (₹ 50 Lacs for selected locations)
  • Area used for extremes from ₹ 5 Lacs ₹ 15 Lacs.
  • It gives a payment period of 12 months to 48 months.
  • SMS and call centers are also available.
  • Accident insurance coverage for accidental death.
  • Interest Rate Rates fall between 12.75% to 21.70% per year

Measurement method



  • Personal loans, Properties and private companies.
  • Business must be Productive, Commercial or service.
  • At least ₹ 40 Lacs ofover is required.
  • The vintage business period should not be less than three years.
  • The ITR must be at least 1.5 Lacs.
  • The simple age of the applicant should be 21 years and a maximum age of 65 years.


Money and Finance

  • The filing fee is 2.50% on the loan amount with a minimum of ₹ 2359 / - amounting to ₹ 88500 / -.
  • Prepaid expenses of 4% when your loan is closed within seven months to 24 months.
  • 3% prepayment cost when your loan is closed within 25 months to 36 months.
  • 2% is called repayment costs when the loan is closed after 36 months.
  • 2% per month is charged when EMI expires.
  • 50 550 is charged when the check is filed.


Axis Business Loan


  • Get a loan of ₹ 50 Lacs from Axis Bank.
  • There is no need for a joint to be held down.
  • Provides maximum employment of 36 months.
  • The interest rate is based on business financial audits and previous track records.
  • A timely repayment of the loan amount.
  • An online site is available when you apply for a loan.


Measurement method


  • The business must have a vintage time of at least 3 years.
  • The business income should be between ₹ 30 Lacs to ₹ 10 crores.
  • The applicant's age should be 21 to 65 years.
  • The business must be a partnership, ownership, LLP, Pvt Ltd, Company business.


Money and Finance

  • Axis Bank charges a fee of 1.25% to 1.50%.
  • ₹ 500 as a lump sum payment.
  • 2% interest rate on the existing interest rate.


ICICI Bank Business Loan


  • Find an overworked area under this scheme.
  • There is no need for assurance, cooperation or security.
  • Get a loan of up to ₹ 2 Crore.
  • Quick loan operation and repayment.
  • Interest rates fall between 16% to 22% p.a


Eligible groups


  • Firmness of partnership
  • Facilitation of the State
  • Private company
  • Small and Small Businesses
  • Public Limited Companies


Money and Finance

  • A processing fee of up to 2% on the loan amount.
  • The guarantee fee ranges from 0.75% to 0.85% for women businesses in the Northern Cape region and 15 for the rest.
  • No Debt Disclosure Cases.


Kotak Business Loan


  • Get a loan from ₹ 3 Lacs to ₹ 75 Lacs.
  • Business loan without mortgage.
  • If the applicant submits all the documents, the bank approves the business loan within 72 hours.
  • The repayment period is 48 months.
  • Charge 18% to 23% p.a interest rate.
  • The paperwork is small and it takes time for low performance.


Measurement method


  • The vintage business period should be three years.
  • Minimum business return should be ₹ 40 Lacs.
  • The business must make a profit for at least one year.
  • The business must be a manufacturing, trading or service provider.
  • It is loaned to the owner, the holding company, the private company, the trust and the LLP only.
  • The applicant's age should range from 25 to 65 years.


Money and Finance

  • Charge a 2% processing fee plus GST on the loan amount.
  • Documentation cost of ₹ 3500 plus GST where the loan is less than ₹ 10 Lacs.
  • Documentation cost of ₹ 6000 plus GST where the loan is greater than ₹ 10 Lacs.
  • Look at the cost of humiliation is ₹ 750.


First IDFC Business Loan


  • Enter business loan from ₹ 1 Lacs to ₹ 9 Lacs.
  • The loan term for a business loan is 4 years.
  • There is no need for any credible security.
  • Comprehensive loan insurance at an approved price.
  • The interest rate range is 16% to 24% per annum.
  • Door step Pickup for all required documentation.


Fitness

  • Professional Professionals
  • Sole Proprietorship firm
  • Firmness of partnership
  • Limited companies
  • MBBS, BDS and MOS Doctors.


Money and Finance


  • 2.49% processing fee on loan amount.
  • 5% disclosure fee on the principal amount remaining.
  • Other Basic Documents Required by All Banking Institutions


Now, you know the best business lending bank in India. But they all have a standard selection of texts. You can see the list given below.


  • Identity Proof- Pan Card, Aadhaar Card, Voter I.D, Passport, Driving License, (Anyone)
  • Proof of Residential Address, Rental Agreement, Telephone Roads, Electricity, Passport, Driver's License, Aadhaar Card.
  • Business Continuity Statement- Bank Statement, ITR Statement, Sheet Balance, Registration Certificate, Lease Agreement.
  • Passport size Photographs, applicants and applicants.
  • All loan documents available. (If any)
  • Financial records are audited by the auditor.
  • Memorandum of Organization, AOA and Certificate of Integration of the company.
Best Banks for Business Loan in India Best Banks for Business Loan in India Reviewed by Digitaltech on June 02, 2020 Rating: 5

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