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

2019-12-17 : Retail loans expected to double in next 5 years to 96 trillion.
As per an ICICI Bank-CRISIL report, the retail loan of financiers is expected to reach 96 trillion by March 2020 as compared to Rs 48 trillion in March 2019. This growth will be due to increased private consumption, consumer willingness to take the loan, growth in low-cost housing, and MSME loans.
2019-12-17 : Realme announced Realme Paysa for quick digital loans
Realme made its foray into digital payment by Realme Paysa App. It will offer personal loans, business loans, screen insurance, and free credit report. Paysa will provide small personal loans ranging from as low as Rs 8,000 and going all the way up to Rs 1 lakh. Business owners can get loans ranging from as little as Rs 50,000 and go all the way up to Rs 5 lakhs.
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.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More

Unsecured Business Loan in India Jan 2020

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