Apply Business Loan
Digital Business Loan Up To 30 Lakh
Eligibility Criteria
- 2 yr. Trade Licence
- Require Age: 23 to 62 yr.
- -1/ 700+ CIBIL Required
- Good Bank Statement Required
- Loan Amount: Up To 30 Lakh
Documents
- Pan Card
- Aadhaar Card
- 6 months Bank Statement PDF
- Recent 2 yr. Trade Licence
Interest Rate
- 12% – 18% p.a.
- Up To 3% Processing Charge
Eligibility Criteria
- Require Age: 23 to 55 yr.
- 3 yr. CIBIL Required
- 2 yr. IT File Required
- Loan Amount: Up To 5 Lakh
Documents
- Pan Card
- Aadhaar Card
- 6 months Bank Statement PDF
- 2 yr. IT File Acknowledge Copy
- 2 yr. Trade Licence
- Electricity Bill
Interest Rate
- 12% – 22% p.a.
- Up To 3% Processing Charge
Eligibility Criteria
- Require Age: 21 to 58 yr.
- 700+ CIBIL
- Good Bank Statement
- Loan Amount: Up To 2.5 Lakh
Documents
- Pan Card
- Aadhaar Card
- 6 months Bank Statement PDF
- Trade Licence as a Business Proof
Interest Rate
- 18% – 32% p.a.
- Up To 3% Processing Charge
Eligibility Criteria
- Trade Licence
- Require Age: 21 to 60 yr.
- 720+ CIBIL
- Loan Amount: Up To 20 Lakh
Documents
- Pan Card
- Aadhaar Card
- 6 months Bank Statement PDF
- 1 Yr. Trade Licence as a Business Proof
Interest Rate
- 18% – 32% p.a.
- Up To 3% Processing Charge
Eligibility Criteria
- Require Age: 21 to 60 yr.
- 720+ CIBIL
- Loan Amount: Up To 5 Lakh
Documents
- Pan Card
- Aadhaar Card
- 6 months Bank Statement PDF
Interest Rate
- 18% – 32% p.a.
- Up To 3% Processing Charge
A business Loan is an instant loan for funding a business. You can apply for a business loan for business expenses. To grow your business, Apply for a loan & get an instant loan. There are two types of business loans available. 1) Secured Business Loan 2) Unsecured Business loan.
Benefits of Business Loan
Instant Approval: Get instant approval within 72 hr. A business loan is a fast & instant process.
Minimum Documents: You don’t need many documents—some essential documents are required to apply for a business loan.
High Loan Amount: You can get up to 50 lakh business loans for business & other expenses. This is a fully digital process.
Flexible Tenure: Business loan tenure starts from 1 year to 7 years. Also, you can foreclose the due loan amount after 6 EMI.
Affordable Interest Rate: Business loan interest rate starts from 9.65% to 18%.
Eligibility Criteria
- Indian Citizen
- Required Age 21 to 62 yr
- -1/ 720+ CIBIL Score
- Minimum 6-month Turnover of 3 lakh
- Should be Self Employed, Individual, Partnership firm, Pvt Ltd Company
Business Loan Documents Required
- A recent 2 yr Trade License required
- 2 yr IT File required
- Six-month bank statement
- Pan Card
- Aadhaar Card
- Electricity bill / Water bill for residence proof
Interest Rates
Interest rates depend on your Cibil Score & credit health checkup. After that, you will get the interest rates.
Minimum Interest Rate | 9.65% per annum |
Maximum Interest Rate | 18% per annum |
Fees & Charges
Processing Charges | Up to 3% of the loan amount |
Insurance Charges | Based on lenders |
Late Payment Fee | Applicable |
Loan Defaulter Charge | Applicables |
Foreclose Charges | 3% of the loan amount |
How to Apply for Business Loan
Step 1: Choose a lender based on criteria through 24hrloan.in
Step 2: Click on the “Apply Now” button to start the process
Step 3: Enter ph no, Email id & basic details
Step 4: Enter the Pan card no for the eligibility check
Step 5: Upload Bank Statement for loan approval
Step 6: You will get the loan offer if you meet the eligibility criteria.
How to get Fast Loan Approval
It depends on multiple factors. The following factors are required to get fast business loan approval:
CIBIL Score: CIBIL Score is the essential factor. This Score will tell you previous loan track and repayment history with other lenders. If you have a good loan track, you will get fast approval.
Vintage Proof: Vintage proof tells that you have a business. Banks will take the vintage documents as business proof. It can be Trade License, IT File, or GST File. Minimum 2yr old vintage proof is required.
Residence Proof: Banks or NBFC companies take electricity bills or Water bills as residence proof. A House electricity bill will be required.
Good Bank Statement: Maintain a good bank statement for fast loan approval. The minimum average balance required is 3 lakh in the last 6 months.
FAQs on Business Loan
You can apply for a business loan with 2 yr trade license through IIFL Finance, Tata Capital & IDFC Banks.
You can get a 1 lakh to 50 lakh loan amount.
You can apply for a business loan with a -1 CIBIL Score.
Business loan interest rate starts from 9.65% to 18% p.a. It will depend on your CIBIL Score.
For a business loan, 21 to 62 yr age is required. Otherwise, your application will be rejected.
24hrloan provides you fully digital business loan from anywhere in India. You can apply yourself or contact us.
You can apply for 1 yr trade license. But you will require other documents like MSME Certificate, IT File, etc.
