Unlock Best Business Loan Offers From 20+ Lenders

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Top Public Banks For Business Loan

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.

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

--

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

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

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

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.

ParticularsCharges
Processing FeesUp to 6% of the loan amount
Prepayment ChargesUp to 5% of the outstanding principal
Penal Interest2%-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.