How much Business Loan can I get in India

How much Business Loan can I get in India?

You can get up to 1 crore business loan in India. The loan repayment tenure is 12 months to 60 months. The business loan interest rate starts from 9.65% to 18% per annum. You will get the loan within 6 days.

24hrLoan gives you the best business loan offers through 25 lenders. You will get the different Banks & NBFC companies.

Business Loan  Quick Recap

Loan AmountUp to Rs.1 crore
Interest Rate9.65% to 18% p.a.
Tenure12 months to 60 months
Required Age23 years to 60 years
CIBIL Required-1 / 700+
Approval ProcessOnline
Processing FeeUp to 5%

Features & Benefits of Business Loan

Online Process: You don’t require to visit brunch to get the loan. You will get the digital loan approval.

Flexible Tenure: You will get flexible loan tenure. We provide 12 months to 60 months loan repayment tenure.

High Loan Amount: Applicant is eligible for a higher loan amount. 24hrLoan is offering up to 1 crore business loan.

Interest Rate: Our lenders offer the best interest rate. The loan interest rate starts from 9.65% to 18% p.a.

No Upfront Charges: There are no upfront charges. 24hr Loan doesn’t take any charges to get the loan.

Zero Collateral: This is a fully unsecured business loan. The applicant doesn’t require to give any security for a business loan.

Also Read: WeRize Personal Loan

Eligibility Criteria for Business Loan

Check the below eligibility criteria to get the business loan:

  • Self Employed Business (Proprietorship, Private Limited Company, Limited Liability Partnership)
  • Minimum 3-year business vintage proof (Trade License/ MSME Certificate)
  • Minimum 2-year Income Tax File (Annual income 2.5 lakhs or above required)
  • Applicant age should be 23 to 60 years required
  • Minimum Average Bank Balance (ABB) of 8,000 required
  • CIBIL Score should be -1 or 700+ required
  • The minimum business turnover required is 12 lakh per annum

Business Loan Documents Required 

  • Applicant Aadhaar Card
  • Applicant Pan Card
  • 3 years Trade License / MSME Certificate
  • 2-year IT File with balance sheet and P&L
  • 1-year bank statement pdf
  • Residential Proof ( Electricity bill / Land Property Tax )
Also Read: 5 Best Buy Now pay Later Apps in India

Business Loan Provider Lenders

LenderInterest RateLoan AmountLoan Tenure
HDFC Bank Mudra Loan8.60% p.a. to 20% p.a.Rs.50,000 to Rs.10 lakh12 months to 60 months
IIFL11.25% p.a. to 33.75% p.a.Rs.50,000 to Rs.30 lakh12 months to 60 months
Bandhan Bank10.60% p.a. to 17.26% p.a.Up to Rs.10 lakhUp to 7 years
Faircent12% p.a. to 28% p.a.Up to Rs.5 lakhUp to 36 months
NeoGrowth19% p.a. to 24% p.a.Up to Rs.75 lakhUp to 7 years
FlexiLoans12% p.a. onwardsUp to Rs.1 crore1 year to 5 years
LendingKart12% p.a. to 28% p.a.Up to Rs.1 crore12 months to 36 months

How to Apply for Business Loan

Step 1: Click on the “Apply Loan” button.

Step 2: Fill out the form carefully.

Step 3: Our customer representative calls you for the documentation process.

Step 4: Now, Lenders will check your eligibility

Step 5: If you are eligible, you will get the loan offer.

FAQs on Business Loan

What is the maximum business loan can I get?

You can get up to 1 crore business loan. It will depend on your bank statement.

As a doctor, Can I apply for a business loan?

You may get a loan as a professional doctor. But you should provide the qualified documents.

Can I apply for a loan without Income Tax File?

Some lenders offer business loans without IT files. IIFL, LendingKart offer business loan without Trade License.

Can I apply for a business loan through a home?

24hrLoan provides a fully digital loan process. You can apply at home. Just submit the required documents to us.

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