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Top Public Banks For Business Loan

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

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

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

Complete List of Personal Loan Providers

Private Banks Offering Personal Loans

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
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:<li>6% of outstanding principal amount for loan foreclosure within 12 months of loan sanction</li><li>5% of outstanding principal amount for loan foreclosure after 12 months of loan sanction</li>For secured loans (immovable property):<li>6% of outstanding principal amount for early payment/loan foreclosure within 12 months of loan sanction.</li><li>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.</li>
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: <ul><li>Zero foreclosure permitted before repayment of 6 EMIs.</li><li>On payment of 7 to 18 EMIs – 5% of principal outstanding.</li><li>On payment of more than 18 EMIs – 3% of principal outstanding.</li><li>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.</li></ul>
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: <ul><li>06 – 24 months: 4% of total principal outstanding.</li><li>25 – 36 months: 3% of total principal outstanding.</li><li>More than 36 months: 2% of total principal outstanding.</li><li>Note:The bank does not permit part/full prepayment of loans until repayment of at least 6 EMIs.</li><li>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.</li><li>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</li></ul>
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: Not specified
- 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: <ul><li>Charged as per the terms and conditions mentioned in the sanction letter.</li><li>No foreclosure charges for Micro and Small enterprises.</li></ul>
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.
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
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

Public Sector Banks Offering Personal Loans

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: NIL
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: Not specified
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
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

NBFCs Offering Personal Loans

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
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: <ul><li>2% of the amount prepaid.</li></ul>
Bajaj Finserv Business Loan
- Interest Rate: 9% - 30%
- Loan Amount: ₹25K - ₹45L
- EMI Per Lakh: ₹2076 - ₹3235
- Processing Fees: <ul>Unsecured Business Loan</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>Annual Maintenance Charges</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>Secured Business Loan</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>Annual Maintenance Charges</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: <ul>Pre-Repayment Charges(Unsecured Business Loan)</ul><li>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</li><li>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</li><li>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.</li><li>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"</li><li>More than one month from the date of disbursal of the loan - 2% + taxes applicable on the amount prepaid</li><ul>Pre-Repayment Charges</ul><li>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</li><li>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</li><li>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.</li><li>Pre-Repayment Charges(Secured Business Loan) - <li>Up to 4.72% (Inclusive of applicable taxes) of principal loan amount prepaid on the date of such part pre-payment</li><li>Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi.</li><li>More than one month from the date of disbursal of the loan - 2.36% + taxes applicable on the amount prepaid</li>
NeoGrowth Business Loan
- Interest Rate: 15% - 24%
- Loan Amount: ₹1L - ₹75L
- EMI Per Lakh: ₹2379 - ₹2877
- Processing Fees: Up to 5%
- Pre Payment Charges: Not specified
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: <ul><li>5% of principal amount</li></ul>
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
Lending Kart-NBFC Business Loan
- Interest Rate: 15%
- Loan Amount: ₹50K - ₹2Cr
- EMI Per Lakh: ₹2379 - ₹2379
- Processing Fees: 2%-3%
- Pre Payment Charges: NIL
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: Not specified
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)
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
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: Not specified
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: Not specified
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)
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: Not specified
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)
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
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: Not specified
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%.
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.
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: Not specified

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.

Novel MSR Building, Subbaiah Reddy Colony, Marathahalli,
Bengaluru, Karnataka 560037 Email: customer-care@pluto-money.odoo.com Call: 08031404538

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GET AN INSTANT BUSINESS LOAN

Quick Navigation

Top Public Banks For Business Loan

State Bank of India Business LoanView details

Bank of India Business LoanView details

Union Bank of India Business LoanView details

Canara Bank Business LoanView details

Bank of Baroda Business LoanView details

Punjab National Bank Business LoanView details

Eligibility criteria

Individuals

Non-individuals

Documents required

Business Loan Fees and Charges

Latest Insights

Are Business Loans Right For Your Enterprise's Growth?

Business Loans Explained: 7 Key Factors You Must Know

Unlock Business Growth with SBI's Secured Loan Options

Top 5 Business Loan Schemes for Women Entrepreneurs

Got questions? We've got answers.

State Bank of India Business Loan

Bank of India Business Loan

Union Bank of India Business Loan

Canara Bank Business Loan

Bank of Baroda Business Loan

Punjab National Bank Business Loan