Compare Business Loan Interest Rates

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Business Loan Interest Rates Comparison in India

Bank Business Loan Interest Rates Processing Fee
Neogrowth Business Loan 19.50% 2.5% of loan amount
Capital First Business Loan 21.00% 2.00%
SBI Business Loan 11.20% From 2% to 3%
HDFC Bank 15.65% Starting from 0.99%, Max 2.50%
ICICI Bank 16.49% Starting from 0.99%, Up to 2%
Citibank 16.00% Upto 2%
RBL Bank 20.00% 3% of loan amount
Tata Capital 18.00% From 1.50% to 2.50%
Lendingkart 18.00% 2% of loan amount
Bajaj Finserv 18.00% Upto 2% of loan amount
IDFC Bank 16.00% Up to 2%
IIFL 13.00% Up to 2%
Bank of Maharashtra 14.50% 1% of loan amount, Min Rs. 1,000
IndusInd Bank 14.00% 2.50%
Kotak Bank 16.00% Upto 2%
Fullerton India 16.00% 2%
IDBI Bank 13.00% 1%
Allahabad Bank 11.15% Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
Yes Bank 16.25% Up to 2%
PNB 12.65% 1.8% + taxes
OBC 11.40% 0.50% of Loan Amount
Indian Overseas Bank 14.90% Rs. 204 per lakh
Dhan Laxmi Bank 13.15%
DCB Bank 10.70% 2%
Andhra Bank 15.75% Case to Case
United Bank of India 13.00% 1.15%
Corporation Bank 13.55% 1.5%, Min Rs. 500
Syndicate Bank 12.65% 0.5%, Min Rs. 500
Bank of Baroda 14.10% Upto 1%

Business Loan Eligibility

Banks use multiple factors to calculate the loan amount elibility of its borrowers. MyLoanCare Business Loan Eligibility Calculator uses the following factors to give you an estimate about your loan eligibility, amount of loan and best interest rate offer.

Business Loan Eligibility Calculator

Parameters Business Loan Eligibility Criteria
Eligible Entities Self employed non professionals – Sole proprietors, partnership firms, private limited companies, public limited companies involved in the business of manufacturing, trading and services
Self employed professionals – Doctors, CA, CS, Architects.
Age 21 - 65 years
Loan Amount Rs. 50,000 to Rs. 100 Cr
Interest Rate 13.50% - 21.00%
Loan Tenure Up to 5 years
Business Vintage For self employed professional - 3 years
For self employed businessmen - 5 years
Annual Turnover Rs. 1 Cr and above
Banking Stability 6 months and above
CIBIL Score 650 or above
Other Eligibility Conditions Borrower should have a self owned house or work place

Documents required for Business Loan

  • Signed Application Form
  • Identity Proof (PAN)
  • Residential Address Proof
  • Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA.
  • Last 12 months bank account statement (self and business)
  • Certificate and Proof of Business Existence
  • Business Profile
  • Office address - ownership/ lease / rent agreement/ utility bill
Individuals Firms, Partnerships
Identity Proof PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card
Certificate and Proof of Business Existence PAN , sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, Trade license, certificate of practice, registration certificate issued by RBI, SEBI
Address Proof Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ bank statement (not more than 3 months old) Bank statement, utility bill, Registry copy, lease or rent agreement, TAN allotment letter