Unsecured Business Loan across cities in India

Product Features	Loan Against Property	Unsecured Business Loan
Maximum Loan amount	Up to 60% of the property value	Rs. 10 lakhs to Rs. 1 crore
Loan Tenure	5 - 15 years	1 - 5 years
Interest Rate	8.70% – 15%	13.50% onwards

Loan Amount	Cashback
Rs. 12 lakh and above	Rs. 2,500
Rs. 8 lakh - less than Rs. 12 lakh	Rs. 1,500
Rs. 6 lakh - less than Rs. 8 lakh	Rs. 1,000
Rs. 4 lakh - less than Rs. 6 lakh	Rs. 500
Less than Rs. 4 lakh	Rs. 200

2019-12-04 : Syndicate Bank plans to provide loan restructure facility to MSMEs
In a bid to make business loans more affordable for MSMEs, Syndicate Bank is set to offer loan restructuring facility to Micro, Small and Medium Enterprises (MSMEs). The facility will allow MSMEs to plan the repayment structure of the loan according to their convenience. Further, the offer will make MSME loans an attractive offer for buyers and will also help the bank strengthen its business loan portfolio.
2019-12-02 : RBI expected to cut rates this month
Due to the slowdown in the country’s economy, the Reserve Bank of India is expected to cut down rates this month. The central bank is expected to cut around 25 basis points and will announce the new rates by December 5, 2019. This will further benefit retail loan borrowers due to the impact of the rate cut on the repo linked lending rates, thus cheaper home, personal, and business loans.
2019-11-26 : SBI to co-originate loans with U GRO Capital
Leading Public Sector Bank, State Bank of India, signed a loan co-origination agreement with U GRO Capital. The agreement between the parties is expected to provide fast disbursal of business loans to SMEs and MSMEs. Further, the association is done by the Bank, keeping in mind the effective use of U GRO’s technology platform, ‘GRO-Xstream,’ that will allow loan disbursal in 60 minutes.
2019-11-06 : Punjab National Bank claims a profit of Rs 507 crores in the Q2
State-owned Bank, Punjab National Bank, reported a profit of Rs 507.06 crores, in the second quarter of the present year. The Bank claims a reduction in the provision for bad personal and business loans to Rs 3253.32 crores, which was Rs 7733.27 crores in the previous quarter.
2019-11-01 : United Bank of India and Srei Equipment to co-lend loans
The United Bank of India, collaborated with Srei Equipment Finance Ltd to form a co-lending arrangement that could provide loans to the MSME sector. The partners organized loan Utsav in around 20 cities in the country. Loans were provided for the purchase of construction equipment of up to 90 percent of its total value, for a tenure of up to 5 years with EMI facility.

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Unsecured Business Loan in India Dec 2019

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