Business Loan

Fidfly Financial Services brings personal loan offers from 50+ banks and NBFCs to cater to diverse consumer segments. This allows consumers to compare the key loan features offered by top lenders and then apply for the best option available on their credit profiles.

may vary from lender to lender depending on the credit profile of the applicant, nature of the business, loan facility availed by the applicant and the type of collateral/security pledged by the borrower. The interest rates offered by top Business Loan lenders are mentioned below.

Comparison Table of Business Loan Interest Rates offered by Paisabazaar Partners

Bank/NBFC/Fintech	Interest Rate
Bajaj Finserv	9.75% – 25% p.a.
HDFC Bank	10.00% – 22.50% p.a.
IIFL Finance	12.75% – 35% p.a.
FlexiLoans	1% per month onwards
Incred Finance	Upto 32% p.a
ICICI Bank	Up to 17% p.a.
Axis Bank	10.75% p.a.
Indifi Finance	1.5% per month onwards
Kotak Mahindra Bank	16% p.a. onwards
Piramal Finance	17%-26% p.a.
Lendingkart Finance	1.25% per month onwards
Tata Capital Finance	12% p.a. onwards
NeoGrowth Finance	15% p.a. onwards
Chola Mandalam	18% to 25% p.a.

Eligibility Criteria for Business Loan Applicants

Age – 20 years at the time of loan application and 65 years at the time of loan maturity (may vary across lenders)
Minimum Business Vintage – 1 years (may be 5 years for some lenders)
Minimum Business Turnover – Rs 250,000 to more than Rs 250 crore
Credit Score – 650 or above (some lenders may offer business loans to applicants having lower credit scores)
Minimum Income – Rs 1 lakh p.a.

Lenders offering Business Loans

HDFC Bank Business Loan

HDFC Bank offers secured and unsecured business loans @ 14% p.a. onwards for loan amount of up to Rs 3 crore and for tenure of up to 7 years to self-employed individuals and business enterprises.

Interest Rate	14% p.a. onwards
Loan Amount	Up to Rs 3 crore
Tenure	Up to 7 years
Processing Fee	Up to 2% of loan amount

Kotak Mahindra Bank Business Loan

Kotak Mahindra Bank offers Business loan. It also offers various working capital business loan products to finance the business requirements of its applicants.

Interest Rate	16% p.a. onwards
Loan Amount	Based on the applicant’s credit profile
Tenure	Up to 7 years
Processing Fee	Up to 2% of loan amount

ICICI Bank Business Loan

ICICI Bank offers both secured and unsecured business loans to importers, exporters, new entities, businesses not having audited financials, etc. ICICI Bank business loan interest rates start from 17% p.a. onwards for tenure of up to 7 years.

Interest Rate	Up to 17% p.a.
Loan Amount	Up to Rs 10 crore
Tenure	Up to 7 years
Processing Fee	Up to 2% of loan amount

Axis Bank Business Loan

Axis Bank business loan interest rates start from 12.75% p.a. onwards for tenure of up to 7 years. Prospective business loan borrowers of Axis Bank can borrow loan amount of up to Rs 5 crore. The bank also offers bills of exchange and Letter of Credit to its business loan applicants.

Interest Rate	12.75% p.a. onwards
Loan Amount	Up to Rs 50 crore
Tenure	Up to 7 years
Processing Fee	Up to 2% of loan amount

Tata Capital Business Loan

Tata Capital offers various business loan products to self-employed individuals and business enterprises for tenures of up to 9 years. The NBFC offers business loans with minimal documentation, swift disbursal and quick approval.

Interest Rate	13% p.a. onwards
Loan Amount	Up to Rs 2 crore
Tenure	Up to 9 years
Processing Fee	Up to 2.75% of loan amount

Lendingkart Finance Business Loan

Lendingkart offers business loans @ 12% p.a. onwards to finance the business requirements of its applicants. The NBFC uses machine learning tools and proprietary big data for setting their business loan interest rates. Lendingkart also uses data technology tools and business analytics for evaluating the applications of its business loan applicants.

Interest Rate	1.25% per month onwards
Loan Amount	Up to Rs 1 crore
Tenure	Up to 3 years
Processing Fee	2%-3%

IDFC First Bank Business Loan

IDFC First Bank offers business loans for tenure of up to 7 years to meet the business and working capital requirements of self-employed individuals, self-employed professionals, MSMEs, traders, hospitals, diagnostic centres and manufacturers.

Interest Rate	11.50% p.a. onwards
Loan Amount	Depending on the applicant’s profile
Tenure	Up to 20 years
Processing Fees	Up to 3.5%

Bajaj Finance Limited Business Loan

Bajaj Finance offers secured and unsecured loans to its applicants for financing various business related activities like machinery purchase, business expansion, inventory restocking, renovation of office space, meeting the working capital requirements, etc.

Interest Rate	9.75% to 30% p.a.
Loan Amount	Up to Rs 80 lakh
Tenure	Up to 8 years
Processing Fee	Up to 2.95%

Incred Financial Services Business Loan

Incred offers unsecured business loans at Upto 32% onwards for financing the business related activities of its applicants. The lender offers business loans to MSMEs, sole proprietors in manufacturing/trading/service business.

Interest Rate	Upto 32% p.a
Loan Amount	As per applicant’s profile (7.5 lacs)
Tenure	Up to 5 years

U GRO Capital Limited Business Loan

U GRO Capital offers both secured and unsecured business loans to micro, small and medium enterprises. The NBFC offers business loans at interest rates starting from 9% p.a. onwards for tenure of up to 10 years.

Interest Rate	9% to 36% p.a.
Loan Amount	Up to Rs 5 crore
Loan Tenure	Up to 10 years
Processing Fees	Up to 4% of loan amount sanctioned

Documents Required for Business Loan Application –

Aadhar Card
PAN Card for partnership firms, individuals and companies
Address Proof- Telephone/electricity bill, Voter ID, Passport, Bank Statement, Driving License, registered lease deed or sale agreement, NREGA Card
Business registration proof
Latest GST returns
Bank statement for last 6 months or (1 years if required)
Latest ITR along with income computation, B/S, P&L account for last 2 years certified by a CA
Photo of applicant
MSME Certificate