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Top Public Banks For Business Loan

Deutsche Bank Business Loan

Interest Rate

24%

Loan Amount

₹10L - ₹50L

EMI Per Lakh

₹2877 - ₹2877

Processing Fees

3% of the disbursed loan amount

Pre Payment Charges

5% of the principal outstanding (For fixed & floating rates, both)

Federal Bank Business Loan

Interest Rate

11.1% - 16%

Loan Amount

₹1L - ₹2Cr

EMI Per Lakh

₹2179 - ₹2432

Processing Fees

Up to 3% of the loan amount

Pre Payment Charges

Up to 12 months : 2% ,More than 12 months: Nil

RBL Bank Business Loan

Interest Rate

14% - 26%

Loan Amount

₹1L - ₹35L

EMI Per Lakh

₹2327 - ₹2994

Processing Fees

<ul><li>2.5% of Loan amount for Business Loans (loan amount greater than Rs 25 lakh)</li><li>3% of Loan amount for small business Loans (Rs 5 lakh to Rs 25 lakh)</li><li>(No processing fee applicable for small business loans below Rs 5 lakh)</li></ul>

Pre Payment Charges

  • Zero foreclosure permitted before repayment of 6 EMIs.
  • On payment of 7 to 18 EMIs – 5% of principal outstanding.
  • On payment of more than 18 EMIs – 3% of principal outstanding.
  • Note: The foreclosure charges are not applicable for facility sanctioned to MSMEs with floating interest rate loans and for fixed interest rate loans with loan amounts of up to Rs 50 lakh.

HDFC Bank Business Loan

Interest Rate

10% - 22.5%

Loan Amount

₹50K - ₹50L

EMI Per Lakh

₹2125 - ₹2790

Processing Fees

<ul><li>Up to 2.00%* of the loan amount.</li><li>NIL Processing Fees for loan facility up to ₹5 Lakhs availed by micro and small Enterprises subject to URC submission prior to disbursal.</li></ul>

Pre Payment Charges

  • 06 – 24 months: 4% of total principal outstanding.
  • 25 – 36 months: 3% of total principal outstanding.
  • More than 36 months: 2% of total principal outstanding.
  • Note:The bank does not permit part/full prepayment of loans until repayment of at least 6 EMIs.
  • The bank allows part-payment of up to 25% of the principal outstanding, after payment of 12 EMIs, once in the financial year and twice during the entire loan tenure.
  • The bank does not levy any foreclosure/prepayment charges for fixed rate business loan facility of up to Rs. 50 Lakh availed by Micro & Small Enterprises (MSE) and closure from own sources

Axis Bank Business Loan

Interest Rate

10.75% - 25%

Loan Amount

₹50K - ₹10Cr

EMI Per Lakh

₹2162 - ₹2935

Processing Fees

Upto 2.00% + Taxes applicable

Pre Payment Charges

Nill/2% of sanction limit

YES Bank Business Loan

Interest Rate

15.99% - 24.25%

Loan Amount

Up to ₹50L

EMI Per Lakh

₹2431 - ₹2891

Processing Fees

Up to 2.5% of loan amount

Pre Payment Charges

Part prepayment is not allowed

Citibank Business Loan

Interest Rate

12% - 18%

Loan Amount

₹1L - ₹30L

EMI Per Lakh

₹2224 - ₹2539

Processing Fees

Up to 2% of the sanctioned loan amount

Pre Payment Charges

Up to 2% of the outstanding amount

Kotak Bank Business Loan

Interest Rate

16% - 28%

Loan Amount

₹3L - ₹75L

EMI Per Lakh

₹2432 - ₹3114

Processing Fees

Up to 2%

Pre Payment Charges

Up to 4% of outstanding amount.

UGRO Capital Business Loan

Interest Rate

9% - 36%

Loan Amount

Up to ₹75L

EMI Per Lakh

₹2076 - ₹3613

Processing Fees

Up to 4% of loan amount sanctioned

Pre Payment Charges

For unsecured loans:

  • 6% of outstanding principal amount for loan foreclosure within 12 months of loan sanction
  • 5% of outstanding principal amount for loan foreclosure after 12 months of loan sanction

    • For secured loans (immovable property):

  • 6% of outstanding principal amount for early payment/loan foreclosure within 12 months of loan sanction.
  • 4% of outstanding principal amount for early payment (more than 25% of principal outstanding at beginning of financial year) / loan foreclosure after 12 months of loan sanction.

    • DCB Bank Business Loan

    Interest Rate

    8.25% - 18%

    Loan Amount

    ₹1L - ₹40L

    EMI Per Lakh

    ₹2040 - ₹2539

    Processing Fees

    Up to 2% of the loan amount

    Pre Payment Charges

    No pre-payment permitted until repayment of 12 EMIs

    IDFC FIRST Bank Business Loan

    Interest Rate

    14%

    Loan Amount

    ₹1L - ₹9L

    EMI Per Lakh

    --

    Processing Fees

    Up to 3.5%

    Pre Payment Charges

    5% of outstanding principal

    ICICI Bank Business Loan

    Interest Rate

    12.5% - 16%

    Loan Amount

    ₹1L - ₹40L

    EMI Per Lakh

    ₹2327 - ₹2327

    Processing Fees

    Up to 2% (plus applicable taxes) of the facility amount

    Pre Payment Charges

    • Charged as per the terms and conditions mentioned in the sanction letter.
    • No foreclosure charges for Micro and Small enterprises.

    State Bank of India Business Loan

    Interest Rate

    11.2% - 16.3%

    Loan Amount

    Up to ₹50Cr

    EMI Per Lakh

    ₹2184 - ₹2448

    Processing Fees

    Flat Rs 10,000

    Pre Payment Charges

    --

    Bank of India Business Loan

    Interest Rate

    10.2% - 12.95%

    Loan Amount

    ₹5L - ₹5Cr

    EMI Per Lakh

    ₹2135 - ₹2273

    Processing Fees

    Starting from ₹500 – 10,000

    Pre Payment Charges

    --

    Bank of Baroda Business Loan

    Interest Rate

    6.75% - 13.5%

    Loan Amount

    ₹5L - ₹50L

    EMI Per Lakh

    ₹1968 - ₹2301

    Processing Fees

    Up to 3% of the loan amount

    Pre Payment Charges

    Up to 12 months : 2% ,More than 12 months: Nil

    Punjab National Bank Business Loan

    Interest Rate

    8.15% - 15%

    Loan Amount

    ₹50K - ₹15L

    EMI Per Lakh

    ₹2035 - ₹2379

    Processing Fees

    Up to Rs.300/- per lakh or part thereof

    Pre Payment Charges

    2% on the outstanding pre-paid

    Union Bank of India Business Loan

    Interest Rate

    11.4% - 15.5%

    Loan Amount

    Up to ₹15L

    EMI Per Lakh

    ₹2194 - ₹2405

    Processing Fees

    Up to 1% (Maximum Rs 7,500)

    Pre Payment Charges

    There is no prepayment penalty if the loan is adjusted by the borrower from his/her own verifiable legitimate sources.

    Canara Bank Business Loan

    Interest Rate

    9.5% - 11.55%

    Loan Amount

    ₹50K - ₹20Cr

    EMI Per Lakh

    ₹2100 - ₹2202

    Processing Fees

    Up to 75% of applicable charges

    Pre Payment Charges

    0.25% per lakh or part there of with a minimum of Rs. 500 or 1% of the loan amount

    Piramal Housing Finance Business Loan

    Interest Rate

    14.49%

    Loan Amount

    ₹25L

    EMI Per Lakh

    ₹2352 - ₹2352

    Processing Fees

    Up to 4% of the sanctioned loan amount

    Pre Payment Charges

    • 5% of principal amount

    Capri Global Business Loan

    Interest Rate

    13.5% - 19.5%

    Loan Amount

    ₹5L - ₹50L

    EMI Per Lakh

    ₹2301 - ₹2622

    Processing Fees

    Up to 2.5% of the sanctioned loan amount

    Pre Payment Charges

    --

    Shriram Urban Co Operative Bank Limited Business Loan

    Interest Rate

    10% - 42%

    Loan Amount

    ₹1L - ₹1Cr

    EMI Per Lakh

    ₹2125 - ₹4009

    Processing Fees

    Less than 2% of the loan amount

    Pre Payment Charges

    Up to 3% - 6% (eligible 6 months after the disbursement of the loan amount)

    Tata Capital Financial Services LTD Business Loan

    Interest Rate

    12.5% - 26%

    Loan Amount

    ₹5L - ₹75L

    EMI Per Lakh

    ₹2250 - ₹2994

    Processing Fees

    Up to 2.5% of the loan amount plus GST

    Pre Payment Charges

    4.5% on future principal outstanding on existing loan plus GST

    NeoGrowth Business Loan

    Interest Rate

    15% - 24%

    Loan Amount

    ₹1L - ₹75L

    EMI Per Lakh

    ₹2379 - ₹2877

    Processing Fees

    Up to 5%

    Pre Payment Charges

    --

    Lending Kart-NBFC Business Loan

    Interest Rate

    15%

    Loan Amount

    ₹50K - ₹2Cr

    EMI Per Lakh

    ₹2379 - ₹2379

    Processing Fees

    2%-3%

    Pre Payment Charges

    --

    Edelweiss Financial Services Business Loan

    Interest Rate

    18%

    Loan Amount

    ₹3.5L - ₹25Cr

    EMI Per Lakh

    ₹2539 - ₹2539

    Processing Fees

    Micro Million: Upto 3.5% of the loan amount + taxes

    Pre Payment Charges

    4% of the principal amount + taxes

    Loantap Credit Products Private Limited Business Loan

    Interest Rate

    19.99% - 26%

    Loan Amount

    ₹50K - ₹10L

    EMI Per Lakh

    ₹2649 - ₹2994

    Processing Fees

    Up to 3% of loan amount

    Pre Payment Charges

    --

    IIFL Finance Business Loan

    Interest Rate

    Up to 36%

    Loan Amount

    ₹1L - ₹50L

    EMI Per Lakh

    ₹3613 - ₹3613

    Processing Fees

    2% to 6% plus GST with an additional amount of up to Rs 500 charged as convenience fees

    Pre Payment Charges

    For prepayment / foreclosure within 1 – 6 months of EMI repayment: 7% plus GST

    FT Cash Business Loan

    Interest Rate

    Up to 18%

    Loan Amount

    ₹1L - ₹50L

    EMI Per Lakh

    ₹2539 - ₹2539

    Processing Fees

    Up to 2%

    Pre Payment Charges

    --

    Aditya Birla Finance Limited Business Loan

    Interest Rate

    18% - 24%

    Loan Amount

    ₹50K - ₹1Cr

    EMI Per Lakh

    ₹2539 - ₹2877

    Processing Fees

    Up to 2% of the loan amount

    Pre Payment Charges

    • 2% of the amount prepaid.

    Bajaj Finserv Business Loan

    Interest Rate

    9% - 30%

    Loan Amount

    ₹25K - ₹45L

    EMI Per Lakh

    ₹2076 - ₹3235

    Processing Fees

    <ul><b>Unsecured Business Loan</b></ul><li> Processing Fee-Up to 3.54% of the loan amount (Inclusive of applicable taxes)</li></li>Bounce Charges-Rs. 1500/- per bounce.</li><li>Penal Interest-Delay in payment of instalment(s) shall attract penal charges of Rs. 40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount</li><li>Document processing charges-Up to Rs. 2360/- (Inclusive of applicable taxes)</li><li>Stamp duty-Payable as per state laws and deducted upfront from loan amount</li><li>Legal and technical-N/A</li><ul><b>Annual Maintenance Charges</b></ul><li>Flexi Term Loan- Up to 0.413 % (Inclusive of applicable taxes) of the Total Withdrawable Amount (as per the repayment schedule) on the date of levy of such charges.</li><li>Flexi Hybrid Loan- Up to 1.18 % (Inclusive of applicable taxes) of the Total Withdrawable Amount during Initial loan tenor. Up to 0.413% (Inclusive of applicable taxes) of Total Withdrawable Amount during Subsequent loan tenor.</li></ul><ul><b>Secured Business Loan</b></ul><li> Processing Fee-Up to 3.54% of the loan amount (Inclusive of applicable taxes)</li></li>Bounce Charges-Rs. 1500/- per bounce.</li><li>Penal Interest-Delay in payment of instalment(s) shall attract penal charges of Rs. 36 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount</li><li>Document processing charges-Up to Rs. 2360/- (Inclusive of applicable taxes)</li><li>Stamp duty - Payable as per state laws</li><li>Legal and technical -Up to Rs. 6,000/- per property (Inclusive of applicable taxes) charged upfront.</li><ul><b>Annual Maintenance Charges</b></ul><li>Flexi Term Loan - Not Applicable</li><li>Flexi Hybrid Loan -Up to 0.295% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Initial Loan tenor. Not Applicable during Subsequent loan tenor</li></ul>

    Pre Payment Charges

      Pre-Repayment Charges(Unsecured Business Loan)
  • Term loan/advance EMI/ step-up monthly instalment-Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi term loan - Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment
  • Flexi hybrid loan - Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Pre-Repayment Charges - "1-Up to 4.72% (Inclusive of applicable taxes) of principal loan amount prepaid on the date of such part pre-payment 2-Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi"
  • More than one month from the date of disbursal of the loan - 2% + taxes applicable on the amount prepaid
      • Pre-Repayment Charges
  • Term loan/advance EMI/ step-up monthly instalment-Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi term loan - Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment
  • Flexi hybrid loan - Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Pre-Repayment Charges(Secured Business Loan) -
  • Up to 4.72% (Inclusive of applicable taxes) of principal loan amount prepaid on the date of such part pre-payment
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi.
  • More than one month from the date of disbursal of the loan - 2.36% + taxes applicable on the amount prepaid

    • Muthoot Finance Ltd Business Loan

    Interest Rate

    9% - 12%

    Loan Amount

    ₹25L - ₹5Cr

    EMI Per Lakh

    ₹2076 - ₹2224

    Processing Fees

    2% of the amount disbursed

    Pre Payment Charges

    EDI (Equated Daily Installment)

    Fullerton India Business Loan

    Interest Rate

    17% - 21%

    Loan Amount

    Up to ₹50L

    EMI Per Lakh

    ₹2485 - ₹2705

    Processing Fees

    Up to 6.5% p.a. of the loan amount

    Pre Payment Charges

    --

    L&T Financial Services Business Loan

    Interest Rate

    15.5% - 24%

    Loan Amount

    Up to ₹50L

    EMI Per Lakh

    ₹2405 - ₹2877

    Processing Fees

    1% of the loan amount (fixed)

    Pre Payment Charges

    --

    Indiabulls Business Loan

    Interest Rate

    13.99%

    Loan Amount

    ₹5L - ₹25L

    EMI Per Lakh

    ₹2326 - ₹2326

    Processing Fees

    0.50% for salaried and 1% for SENP (plus applicable taxes and other bona fide levies, if any)

    Pre Payment Charges

    Rs.500 (Nil if requested once in quarter)

    Digikredit-SME Corner Business Loan

    Interest Rate

    19%

    Loan Amount

    ₹50K - ₹25L

    EMI Per Lakh

    ₹2594 - ₹2594

    Processing Fees

    Up to 3% of the loan amount

    Pre Payment Charges

    5% of the principal outstanding

    Poonawalla Fincorp Limited Business Loan

    Interest Rate

    15% - 28%

    Loan Amount

    ₹1L - ₹30L

    EMI Per Lakh

    ₹2379 - ₹3114

    Processing Fees

    For Medical Equipment Loans: minimal charges

    Pre Payment Charges

    4% of outstanding loan amount plus taxes

    Hero FinCorp Business Loan

    Interest Rate

    Up to 26%

    Loan Amount

    ₹5L - ₹40L

    EMI Per Lakh

    ₹2994 - ₹2994

    Processing Fees

    Up to 2%

    Pre Payment Charges

    Allowed only after 12 months of the loan sanction Charges will be applicable as mentioned in the sanction letter.

    DHFL Business Loan

    Interest Rate

    17%

    Loan Amount

    ₹5L - ₹30L

    EMI Per Lakh

    ₹2485 - ₹2485

    Processing Fees

    2% plus the applicable GST

    Pre Payment Charges

    After 36 months of agreement : 2% plus applicable GST

    Ujjivan Small Finance Bank Business Loan

    Interest Rate

    17% - 19%

    Loan Amount

    ₹5K - ₹1L

    EMI Per Lakh

    ₹2485 - ₹2594

    Processing Fees

    Up to 2.50% of the loan amount + GST

    Pre Payment Charges

    --

    INDIFI Business Loan

    Interest Rate

    15% - 24%

    Loan Amount

    ₹50K - ₹1Cr

    EMI Per Lakh

    ₹2379 - ₹2877

    Processing Fees

    <ul><li>Indifi Term Loan: 2%</li><li>Indifi Business Loan Line of Credit: 2%</li><li>Indifi Merchant Cash Advance: 2%</li><li>Indifi Business Loan for Women: 2%</li><li>Indifi Flipkart Seller Loan: 3%</li><li>Indifi Amazon Seller Loan: 3%</li></ul>

    Pre Payment Charges

    Indifi Business Loan for Construction Business: 4%.

    Eligibility criteria

    Individuals

    • Indian individuals up to the age of 70
    • A minimum credit score of 675
    • Profit-making business for last 2 years
    • Regular GST filings for last 2 years
    • No NPAs or closed OTS accounts

    Non-individuals

    Documents required

    • Udyam registration certificate
    • Proof of identity for firm (Aadhaar, PAN, registered partnership deed, MOA & AOA, registered trust deed, LLP agreement etc.)
    • Proof of address (shop/establishment license, GST registration, rent/lease agreement, and other licenses related to the activity)
    • GST returns for the last 2 financial years

    Business Loan Fees and Charges

    Business loan lenders usually charge processing fees, prepayment charges, commitment charges, inspection charges, account service charges, penal interest and documentation charges from their business loan borrowers.

    Particulars Charges
    Processing Fees Up to 6% of the loan amount
    Prepayment Charges Up to 5% of the outstanding principal
    Penal Interest 2%-6% on the outstanding loan amount

    However, fee fees and charges levied on business loans vary widely across lenders. Below mentioned is an overall range of a few charges levied by the lenders on business loans.

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    Got questions? We've got answers.

    Our KBL Business Quick Loan is designed to finance various business improvements, including advertising, office refurbishments, and equipment upgrades, facilitating your the growth of your business.
    Yes, we offer competitive interest rates and flexible repayment terms. Special concessions may be available for businesses with excellent credit scores and long-standing relationships with our partner banks.
    Repayment can be made through EMIs (Equated Monthly Installments) via auto-debit from your business account. The loan tenure is flexible, ranging from 12 to 60 months based on your business requirements.
    Our business loans can be both secured and unsecured, depending on the loan amount and your business profile. For unsecured loans up to a certain limit, no collateral is required. For higher amounts, property or other assets may be required as security.
    The loan amount depends on various factors including your business revenue, credit score, and repayment capacity. Generally, you can borrow anywhere from ₹5 lakhs to ₹50 crores based on eligibility.
    Eligibility criteria include minimum 2 years of business operations, good credit score (675+), regular GST filings, and profitable business operations. Both self-employed professionals and businesses can apply.