Business Growth Loan
Apply for instant business loans of up to ₹ 2 crore at a competitive interest rate for manufacturing, trading, or services. Special schemes are available for women entrepreneurs, young start-ups, and existing small businesses. Check your business loan eligibility and applicable business loan interest rate using the online calculator.
Business Loan
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Business Loan Details
| Rate of Interest | Competitive Interest Rates |
| Loan Amount | Up to Rs. 2 Crores |
| Repayment Tenure | Up to 20 years |
| Processing Fee | Up to 3.5% of the loan amount |
| Minimum Business Vintage | 3 years |
| Prepayment Charges | Up to 6% |
| Age Required | 21 to 65 years |
Compare Business Loan Interest Rates
| Name of Lender | Rate of Interest (per annum) | Processing Fee | Maximum Loan Limit |
|---|---|---|---|
| Bank of Baroda | As per the policy of the bank | As per the policy of the bank | Rs. 2 Crores |
| HDFC Bank | 11.90% - 21.35% | 0.99% - 2.50% | Rs. 50 Lakhs |
| Axis Bank | 9% - 18.50% | Up to 2% + taxes | Rs. 50 Lakhs |
| SBI | Competitive rate linked to EBLR & MCLR | 0% to 1% | Rs. 500 Crores |
| Kotak Mahindra Bank | Competitive interest rates | Up to 2% | Rs. 75 Lakhs |
| ICICI Bank | 10% - 11.10% | Up to 2% + taxes | Rs. 2 Crores |
| IDFC FIRST Bank | Competitive interest rates | Up to 3.5% | Rs. 7 Crores |
Key Features of Business Loan
- Purpose: To meet financial requirements of the business like purchasing machinery, building infrastructure, or expanding operations.
- Loan amount: Based on project assessment, promoter profile, and projected cash flows.
- Interest: Varies by lender depending on loan amount, project, and borrower profile.
- Security: Depends on loan quantum and business sector. May include hypothecation of stocks/assets or collateral property.
- Repayment: Working capital up to 12 months (renewable annually); term loans from 3 to 20 years.
- Processing fee: Up to 3.5%, depending on lender.
- Prepayment charges: Nil to 6% on outstanding balance.
Types of Business Loans
- Working Capital Finance: Short-term credit for managing daily operations, repayable within 6–12 months.
- Term Loans: Long-term loans for capital investment such as infrastructure or modernization.
- Invoice Financing: Loans against unpaid invoices, offering up to 80% of invoice value.
- Equipment Financing: Funding for purchase of business equipment, usually between 3–7 years repayment.
- PMMY (Pradhan Mantri Mudra Yojana): Loans of ₹50,000–₹10 lakh for MSMEs and entrepreneurs.
- Stand-up India: Scheme supporting SC/ST and women entrepreneurs to start new ventures.
Business Loan Eligibility Criteria
- Applicant/promoters should be between 21–65 years of age.
- Open to proprietorships, partnerships, private limited companies, and self-employed professionals.
- Minimum business vintage of 3 years.
- Minimum business turnover and annual ITR as per lender policy.
- Firm/company should be profit-making for at least one year.
Documents Required for Business Loan
- Address Proof: Aadhaar Card, Voter ID, Driving Licence, Utility Bills, etc.
- Photo ID Proof: PAN Card, Passport, Voter ID, Driving Licence, etc.
- Proof of Business: GST Registration, Trade Licence, Shop Act Registration, Drug Licence, etc.
- Income Proof: Audited Balance Sheet & Profit & Loss Account with Auditor’s Report.
- Other Documents:
- Partnership Deed (for firms)
- MOA, AOA, and Board Resolution (for companies)
- PAN Card of firm/company
- Vehicle permit (if applicable for commercial use)
Fees & Charges of Business Loan
- Processing Charges: Up to 3.5% of the loan amount + GST.
- Foreclosure Charges: Up to 6% of the outstanding loan amount.
- Delayed Payment Penalty: 2% and above over the normal rate of interest on overdue amount.
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