Apply for an IIFL business loan that is 100% digital process. This MSME (Micro Small Medium Enterprise) loan offers up to 50 lakhs instant loans with 5 years tenure. IIFL provides fast loan approval.
The interest rate starts from 11.25% p.a. Get the loan within 3 days.
IIFL Business Loan Quick Recap
| Loan Amount | 10 Lakh – 50 Lakh |
| Interest Rate | 11.25% to 33.75% p.a. |
| Term | 1 -5 years |
| Age Required | 23 -65 years |
| CIBIL | -1 /700+ |
| Processing Fees | Up to 4% of the loan amount |
| Eligible | Self Employed |
Benefits of IIFL Business Loan
Instant Approval: You will get the loan within 3 days. IIFL provides a fast loan process.
100% Digital: The loan application process is 100% digital. Don’t require visiting any brunch.
Affordable Tenure: You can get a 12 to 60-month loan tenure. Select loan tenure as per your requirement.
Flexible Interest: The interest rate starts from 11.25% to 33.75% per annum. The loan interest rate will be calculated based on your CIBIL score.
Higher Loan Amount: IIFL provides up to 50 lakh business loans. The loan amount depends on your bank statement.
Fewer Documents: Minimum documents required to apply for an IIFL business loan. KYC & other documents will be required.
Also Read: HDFC Bank Instant Personal Loan
Eligibility Criteria for IIFL Business Loan
The following eligibility criteria for an IIFL business loan:
- Proprietor businesses are only eligible
- 2 year Business vintage proof
- -1 or 700+ CIBIL score
- An average bank balance of 50,000 required
- Bank turnover must be 1 crore within one year.
- Businesses did not fall under negative pin codes.
Documents Required
- Applicant Pan Card
- Aadhaar Card
- 2 yr Trade License/ MSME Certificate / IT File/ GST File
- 6-month bank statement pdf
- Residence proof (Electricity bill / Gas bill/ Rent agreement)
IIFL Business Loan Interest Rate & Other Charges
| Interest Rate | 11.25% to 33.75% p.a. |
| Processing fee | Up to 4% of the loan amount |
| Cheque / ACH return charges | Rs. 500 + GST |
| EMI bounce charge | Up to Rs. 1,200 |
How to Apply for an IIFL Business Loan
Step 1: Click on the “IIFL Business Loan” button.
Step 2: Fill out the form with your name, phone no, email ID, and other details.
Step 3: Our representative call you for the verification process.
Step 4: Provide your documents like Trade License, Pan Card, Aadhaar Card, and 6 months bank statement.
Step 5: We will log in your file to IIFL and disburse the loan within 3 days.
For any queries, you can mail us at 24hrloan2022@gmail.com. We will reply to you within 24 hours.
Also Read: How to get business loan up to 30 lakh
IIFL Business Loan Customer care
Contact IIFL business loan 24/7. Customer care solves your queries quickly.
Customer Care Number: 1860-267-3000
Email ID: reach@iifl.com
FAQs on IIFL Business Loan
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Can I apply for a business loan without an IT File?
Don’t need for IT file to apply for an IIFL business loan. Just 2 yr Trade License is required as vintage proof. If you have an MSME certificate, you can also be eligible for a loan.
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How much amount available through IIFL?
IIFL provides up to 30 lakh business loans. Your bank statement will decide the loan amount.
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I have a construction business. Am I eligible for the loan?
You are eligible for the loan. But you have to provide vintage proof (Trade License, IT File, GST File, or MSME Certificate) to apply.
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What is the interest of an IIFL business loan?
The IIFL business loan interest rate starts from 11.25% to 33.75% p.a.