Apply for instant business loans at attractive business loan interest rates starting from just 6.90% p.a. The processing fee is charged up to 3.5% per annum and the repayment tenure can go up to 25 years depending on the type of lender and business loan chosen.
|Business Loan Interest Rate and Fees, Apr 2021|
|Interest Rate||Starting @ 6.90% p.a.|
|Processing Fee||Up to 3.5%|
|Loan Tenure||Up to 25 years|
|Lowest EMI Per Lakh||Rs. 1,975 for 5 years|
|Prepayment Charges||Up to 4%|
Additional Info: Also, check PSB Loans in 59 Minutes is a quick business loan portal for start ups.
Below is the comparison between various business loan offers from top banks in India, according to current business loan interest rates and processing fees. This table will assist you with deciding the best and most affordable business loan available in the market right now.
|Banks||Interest Rates||Processing Fees|
|HDFC Bank||11.90% – 21.35%||Up to 2.50% + GST|
|ICICI Bank||Up to 11.10%||Up to 2% + taxes|
|IDFC First Bank||14.5% onwards||Up to 3.5%|
|SBI||7.25% onwards||Up to 1%|
|Kotak Mahindra Bank||17% onwards||Up to 2% + taxes|
|Bajaj Finserv||17% onwards||Up to 2% + taxes|
|HSBC Bank||7.5% onwards||Nil|
|Axis Bank||9% – 18.50%||Up to 2% + taxes|
|PNB Bank||6.90% onwards||Up to 0.50%|
|Federal Bank||9.20% – 16%||Up to 1%|
|IndusInd Bank||13% – 22%||Up to 3% + taxes|
|Central Bank of India||7.10% – 13.35%||Depends on scheme|
|Indian Bank||8.10% – 14.55%||Up to 1.15%|
|UCO Bank||8.85% – 11.85%||Depends on scheme|
|Bank of India||9.70% – 15.45%||Depends on scheme|
|South Indian Bank||7.25% – 16.75%||Up to 2%|
Compare current business loan interest rates on fastmudra.in to get affordable business loan EMI by getting the lowest interest rates. Current business loan interest rates start from as low as 6.90% p.a. A business loan is a financing option that can be used to start a new business or to expand an existing one. These loans are provided at the most competitive rates of interest to help businesses fund any expenses that are related to purchasing new equipment, purchase of inventory, overheads, expansion of the current premises, and so on. There are different types of business loans that one can avail to meet the exact requirement of the business. However, getting a business loan isn’t easy as it involves a complicated process. Our business loan experts can help you with the entire process, from application to disbursal. We are partnered with more than 100 banks, NBFCs, and other financial institutions. We have all the best business loan offers at attractive interest rates that suit all your business requirements.
Additional Info: Check Saksham Yuva Yojana in detail.
The common eligibility criteria for Business Loans are as follows:
The eligibility conditions for the loan vary with each bank, non-banking financial company (NBFC), or financial institution. It has an impact on the interest rate charged and the loan amount that is provided as well. The higher the eligibility of the individual, the better are the loan agreement terms.
Applying for a Business Loan with fastmudra is extremely simple. All you have to do is follow these steps:
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