Business Loan Interest Rate Calculator - Jan 2017

Business Loan Interest Rates

Last Updated 16th Jan 2017
Self Employed
Interest Rate
Tenure
Loan Amount Max Rs. 0
Part Prepayment, Charges Not allowed
Early Foreclosure, Charges Not allowed
Apply Business Loan Online @13.50%*





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Business Loan

gives the facility of business loan to the people who need finance to expand their business. There are some benefits of taking business loan from :
  • You can prepay part of your loan anytime after paying % prepayment charges
  • You can foreclose your entire Business loan anytime after paying the forclosure charges

Business Loan

Business loan interest rates offered by are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Business Loan Interest Rate depends upon
  • Loan amount: Business loan rate in depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • CIBIL Score: offers business loan at higher interest rate if your CIBIL score is poor or vice versa
  • Monthly Revenue: will avail you business loan at lower interest rate if you have higher monthly revenue
  • Time in Business: offers business loan at lower rates if you are doing business since long time

Business Loan Charges

Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. allows prepayment of business loan after paying EMI’s with prepayment charges

Business Loan EMI Calculator

Business Loan EMI is a fixed amount that you pay each month towards the repayment of your business loan till the end of tenure. Lowest EMI offered by is 0 per lakh loan amount. Business loan EMI of depends on factors like:
  • Interest Rate: Higher the interest rate, higher will be the EMI. For a months business loan from at interest rate of % per annum, EMI will be Rs. 0 per Rs. one lakh loan amount.
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At interest rate of % per annum, the EMI on business loan would range from Rs. 0 to Rs. 0 for loan tenure ranging from to months
  • Amount Borrowed: Loan EMI will be high if you apply for a high loan amount. For amount borrowed 0, the EMI at % for months would be 0.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of helps you to calculate your monthly EMI at different rate of interest
  • EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Estimated EMI online by using EMI Calculator.

Business Loan Eligibility Calculator

Business loan eligibility criteria

Eligibility of Business loan in relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Profitability: Business loan eligibility significantly depends upon profitability status and future prospects of your business.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan.
  • CIBIL Score: When checking eligibility for business loan, will look at the complete CIBIL report. will check your repayment history for all current and past loans and credit cards.

Business Loan documents required

  • Address proof of individual: Aadhar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills.
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI

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Business Loan in India

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City Customer Care Number
Business Loan News - Jan 2017
14th Jan 17 Gujarat government to launch Business for Sale website for selling sick MSMEs
Gujarat government is planning to launch a website named as business for sale for selling sick MSMEs. The initiative is expected to help sick MSMEs to sell their business online. The report by RBI highlights the total number of sick MSMEs in Gujarat at 42, 500 in 2016.
13th Jan 17 Loan Frame Technologies raises Rs. 15 crores via seed capital
SME focused online lending platform Loan Frame Technologies raises funds worth Rs. 15 crores in a seed capital fund round. The company provides both secured and unsecured loans to small and medium enterprises.
12th Jan 17 ICICI Bank successfully executes digitized invoice discounting transaction to offer low cost working capital loans to MSMEs
ICICI Bank has announced a successful execution of digitized invoice discounting transaction on Receivables Exchange of India (a TReDS exchange). The bank will operate as a financier in RXIL and offer low cost working capital loans to SMEs through invoice discounting. The initiative is expected to improve access to low cost financing for MSMEs.
11th Jan 17 Capital Float witnesses a 400 percent growth in business, driven by increase in SME loans
Online lending platform Capital Float has reported a 400 percent growth in its loan disbursements in Delhi NCR area. Unsecured business lending has emerged as the fastest growing segment with around 1000 SMEs availing business loans from the NBFC during this year disbursements. The company expects to register a growth of 500 per cent in loan disbursals and a growth of 600 percent in customer base during the next year.
30th Dec 16 MSMEs to get additional working capital loans from banks
Reserve Bank of India has notified banks to provide additional working capital loans to MSME borrowers. The announcement has been made as a onetime measure to help the MSMEs revive their business growth that has been adversely affected by demonetisation. Under the scheme, MSMEs can avail additional working capital loans subject to approval from the board of bank. The scheme will be effective till March, 2017.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.