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Top Private 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)

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

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.

IDFC FIRST Bank Business Loan

Interest Rate

14%

Loan Amount

₹1L - ₹9L

EMI Per Lakh

₹null - ₹null

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.

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

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

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

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

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

    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.