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Top NBFCs For Business Loan

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

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

--

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

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.

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

--

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

--

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

--

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

--

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

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

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)

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)

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)

    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

    --

    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.