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We understand doing business is challenging and almost always subject to ups and downs. In today’s cutthroat market, businesses need to set themselves apart from the competition while also generating enough cash to grow the enterprise. When revenue is less than expected, businesses can take a downward turn. A financial squeeze is a more than probable result of such scenarios. On top of that, even if business loans are available, choosing the right one might be difficult.
Business Loan Interest Rates
Lender | Interest Rate | Loan Amount | Loan Tenure |
HDFC Bank | 10.00% p.a. – 22.50% p.a. | Rs.50,000 to Rs.50 lakh | 12 months to 48 months |
IIFL | 12.75% p.a. – 44% p.a. | Rs.1 lakh to Rs.50 lakh | 12 months to 60 months |
Fullerton India | 17% p.a. – 21% p.a. | Up to Rs.50 lakh | 12 months to 48 months |
Piramal Capital and Housing Finance Limited | 17% p.a. – 24% p.a. | Up to Rs.25 lakh (without collateral) | Up to 15 years |
Poonawalla Fincorp | 15% p.a. onwards | Up to Rs.50 lakh | Up to 36 months |
Kotak Mahindra Bank | 16% p.a. onwards | Up to Rs.75 lakh | Up to 48 months |
Karnataka Bank | 13.25% p.a. to 14.23% p.a. | Up to Rs.1,500 lakh (will vary based on the type of scheme) | Up to 120 months (will vary based on the type of scheme) |
Tata Capital | 12% p.a.to 25% p.a. onwards | Rs.0.40 lakh to Rs.75 lakh | 12 months to 60 months |
Mahindra Finance (Short-Term Loans for SME) | As per the lender’s terms and conditions | Up to Rs.25 crore | Up to 12 months (will vary based on the type of scheme) |
Federal Bank SME Loans | 11.40% p.a. onwards | As per the lender’s terms and conditions | As per the lender’s terms and conditions |
Standard Chartered Bank (Business Installment Loan) | 17.25% p.a. onwards | Up to Rs.1 crore | Up to 4 years |
Documents Required For Car Loan
- Proof of Identity – PAN Card / Driving license / Voter ID / Passport / Aadhar Card.
- Proof of address – Passport / Utility bill / Aadhar card
- Proof of Income – Latest salary slip / ITR / Form-16
- Bank Statement – Last 3 months bank statement / last 6 months bank passbook.
- Proof of Ownership – Proof of ownership or collateral documents, including property deeds, sale agreements, possession letters, and asset valuation
AV Vision - Your Trusted Partner & Best Business Loan Provider
AV Vision is a leading financial institution that provides all information about different types of business loans. It serves as a platform between lenders and loan seekers. You can find information about various banks and NBFC s that lend money along with their terms and conditions, interest rate, credit score, and eligibility criteria. We can make your process of business loan in Noida easier.
