Frequently Asked Questions

Find answers to common questions about our business loans

To be eligible for a business loan, you need: Minimum 2 years of business operation, Annual turnover of ₹10 Lakhs or more, Age between 21-65 years, and a good credit score (preferably above 750). Additional criteria may apply based on the loan type.

Required documents include: KYC documents (Aadhaar, PAN, etc.), Last 6 months' bank statements, 2 years' ITR and financial statements, Business registration proof (GST, Shop Act, etc.), Business address proof, and Partnership deed/MOA/AOA if applicable.

Typically, business loans are processed within 7-10 working days after complete document submission. For existing customers with good credit history, the process might be faster. Complex cases might take up to 15-20 days.

The maximum loan amount depends on factors like your business turnover, credit score, and type of loan. Secured business loans can go up to ₹10 Crore, while unsecured loans typically range from ₹5 Lakhs to ₹75 Lakhs.

It depends on the loan type and amount. Unsecured business loans up to ₹75 Lakhs don't require collateral. However, for higher amounts or better interest rates, secured loans with collateral are recommended.

Interest rates vary from 10.50% to 24% p.a. based on factors like loan type, amount, tenure, and your credit profile. Secured loans typically have lower interest rates compared to unsecured loans.

Yes, we offer startup business loans for new businesses. However, these might have different eligibility criteria and usually require a detailed business plan, higher interest rates, and might have lower loan limits.

Business loan tenure varies by type: Working capital loans: 12-60 months, Term loans: up to 180 months, Equipment financing: 12-84 months. The exact tenure depends on the loan amount and type.

Yes, you can prepay your business loan. However, there might be a prepayment penalty of 2-4% on the outstanding amount. Some loan types might have a lock-in period before prepayment is allowed.

Business loan EMI is calculated based on the principal amount, interest rate, and tenure. You can use our EMI calculator to get an estimate. The final EMI will depend on your approved loan terms.

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