Trending 15 Business Loan Providers and Interest Rate

Business Loan are loans that are taken from the banks on the behalf of doing business like funding for a business, start-ups, purchasing long-term assets for the business, meeting working capital requirements. Banks will provide this kind of loan only if they met certain terms and conditions.

The following list contains the top 15 Business loan providers in India.

Business Loan Comparision

SL.NOBANK NAMELOAN AMOUNTRATE OF INTEREST
1HDFC BANKRs.50,000 – Rs.50,00,00015-21.20%
2SBI BANKRs.10,00,000 – Rs.52,00,0009.05 – 16.30%
3ICICI BANKRs.1 Lakh – Rs.40 Lakh10-11.1%
4AXIS BANKRs.50,000 – Rs.50,00,000N.A
5CITI BANKRs.10,00,000 – Rs.1,50,00,000N.A
6IDFC BANKRs.1 Lakh to Rs.9 Lakh16% – 24%
7KOTAK BANKRs.3 Lakh to Rs.75Lakh18% – 23%
8STANDARD CHARTERED up to 75 Lakh17.5%
9TATA CAPITALRs.5 Lakh – Rs.75Lakh19%
10INDUSIND BANKup to 15,00,00014% – 23%
11MAHINDRA BANKup to Rs.40 coreN.A
12KARNATAKA BANKMax Rs.1500 Lakh11.33% onwards
13MAGMA FINCORPRs.3,00,000 – Rs.2,00,00,00017.5% – 21%
14FULLERTON BANKup to 50 Lakh17% onwards
15CANARA BANKRs.10 Lakh – 200 LakhN.A
N.A(not available) – ROI Depends on the type of business

1] HDFC Bank Business Loan

HDFC ranks at top 1 business loan providing bank in India their business loan rages Rs.50,000 to Rs.50,00,000.

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SL. NoRequirementsFees and Charges
1Rate of Interest15-21.20%
2Loan AmountRs.50,000 – Rs.50,00,000
3Tenure Period1 – 4 year
4Repayment Period12 – 48 months
5Business Experience5 years with 3 years in the current business

2] SBI Simplified Small Business Loan

SBI is one the biggest bank in India that has more than 24000 branches and 59000 ATMs across the country.

SL. NoRequirementsFees and Charges
1Rate of Interest9.05 – 16.30%
2Loan AmountRs.10,00,000 – Rs.52,00,000
3Processing fees1% on loan amount
4Repayment Period5-15 years
5Business Experience5 years

3] ICICI Bank Business Loan

ICICI Bank is one of the largest private bank in India and theri loan range will be in between R.s1 Lakh and Rs.40 Lakh

SL. NoRequirementsFees and Charges
1Rate of Interest10-11.1%
2Loan AmountRs.1 Lakh – Rs.40 Lakh
3Processing feeup to 2 % on loan amount
4Repayment Periodmax 7 years
5Maximum Loanup to 2 Crore

4] AXIS Bank Business Loan

Axis bank provides business loans to manufacturere, retailer, trader, professional who are running their own business.

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SL. NoRequirementsFees and Charges
1Rate of InterestDepends of type of Business
2Loan AmountRs.50,000 – Rs.50,00,000
3Processing Fee1.25% – 1.50%
4Repayment Period15 years
5Business Experience3 years

5] Citi Bank Business Loan

Citi Bank Business loan best suited for that kind of business where business has its network in more than 100 countries.

SL. NoRequirementsFees and Charges
1Rate of Interestnot disclosed
2Loan AmountRs.10,00,000 – Rs.1,50,00,000
4Processing fee2% on loan amount
5Tenure Period12 -120 months
6Pre payment charges4%

6] IDFC First Bank Business Loan

IDFC First bank provide the business loan to meet the working capital of the company and loan amount ranges form 1-9 Lakh

SL. NoRequirementsFees and Charges
1Rate of Interest16% – 24%
2Loan AmountRs.1 Lakh to Rs.9 Lakh
3Processing fee2.49% of loan amount
4Repayment Period4 years
5Foreclosure fee5%

7] Kotak Bank

Kotak Mahindra Bank is teh 4th largest private bank in India, it has around 650 + branches in all over India. Kotak mahindra business loan starts from Rs.3 Lakh to Rs.75 Lakh

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SL. NoRequirementsFees and Charges
1Rate of Interest18% – 23%
2Loan AmountRs.3 Lakh to Rs.75Lakh
3Processing feeup to 2%
4Repayment Period48 months
5Business Vintage3 years

8] Standard Chartered Bank

Standard Chartered Bank business loan is best option for the begineers because the loan application process is very simple, quick.

SL. NoRequirementsFees and Charges
1Rate of Interest17.5%
2Loan Amountup to 75 Lakh
3Tenure Period4 years
4Repayment Periodup to 36 months
5Business Experience5 years with 3 years in the
current business

9] Tata Capital

Tata Capital is one of the popular business loan in India for which it’s loan amount starts from Rs.5 Lakh and maximum of Rs.75 Lakh

SL. NoRequirementsFees and Charges
1Rate of Interest19%
2Loan AmountRs.5 Lakh – Rs.75Lakh
3Tenure Period12-36 months
4CIBIL Score700 or more
5Age25 to 65

10] Induslnd Bank

Induslnd Bank provide the business loan to help small growing businesses and it has 380+ branches in all over India.

SL. NoRequirementsFees and Charges
1Rate of Interest14% – 23%
2Loan Amountup to 15,00,000
3Processing Fee0.5% – 2%
4Repayment Period12-60 months
5Pre – payment charges4% post 12 EMI Clearance

11] Mahindra Finance

Mahindra Finance providers the business loan in the form of MSME loans to its customer and the interest rate starts from 14% onwards.

SL. NoRequirementsFees and Charges
1Rate of InterestN.A
2Loan Amountup to Rs.40 core
3Processing Fee2%-3% of loan amount
4Repayment Period36 months
5Customercare Toll Free022 6652 6000

12] Karanataka Bank

Karanataka bank is one of the leading bank in providing the MSME loans across the India

SL. NoRequirementsFees and Charges
1Rate of Interest11.33% onwards
2Loan AmountMax Rs.1500 Lakh
3Processing FeeAbove or up to Rs.25000
4Repayment Period120 months (term loan)
34 months (working capital OD)
5Cash Margin25% of loan amount

13] Magma Fincorp

Magma Fincorp provides the business loan for small and medium sized enterprise businesses which are engaged in trading and manufacturing services.

SL. NoRequirementsFees and Charges
1Rate of Interest17.5% – 21%
2Loan AmountRs.3,00,000 – Rs.2,00,00,000
3Tenure Period12 – 48 months
4Prepayment PeriodAllowed after 6 months
5CollateralNot required

14] Fullerton

Fullerton provide the loan for doing business which can meet the working capital of the company.

SL. NoRequirementsFees and Charges
1Rate of Interest17% onwards
2Loan Amountup to 50 Lakh
3Processing Fee6.5 %
4Repayment Period12-60 months
5Collateral Not required

15] Canara Bank

This is one of the largest bank that has been aquired by the Indian Government. Canara Bank provides business loan in the form of MSME loans.

SL. NoRequirementsFees and Charges
1Rate of InterestBased on business type
2Loan AmountRs.10 Lakh – 200 Lakh
3Age20-50 years
4Repayment Period1-7 years
5Security50% of loan amount

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