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IIFL Finance

BUSINESS LOAN

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  • OVERVIEW
  • FEATURES
  • BENEFITS
  • RATES & CHARGES
  • DOCUMENTS
  • ELIGIBILITY
  • HOW TO APPLY

BUSINESS LOAN

Unsecured business loans are available in India from banks and non-banking financial institutions (NBFCs). The primary objective is to provide for an expanding company's immediate demands. To suit a business's financial demands, the majority of financial institutions offer term and flexible loans. Business loans are often referred to as commercial loans. Individual business owners, closely owned corporations, partnership organizations, self-employed people, and store owners are all eligible for these loans. MSMEs can benefit a great deal from the additional capital using the MSME business loan.

The online business loan from IIFL Finance is the best loan for an upcoming company as a source of money for all your business needs. To avoid having to reduce important business expenses, the interest rate on the business loan is appealing and reasonable. The rapid business loan application procedure is crafted to ensure that it is on par with becoming the best business loan in India through significant market research.

We strive to meet your capital requirements as soon as possible with the help of online application process, eKYC, and minimal paperwork. You can receive a collateral-free business loan in just 24 hours. The attractive interest rates ensure that this is a win-win situation.

IIFL FINANCE PERSONAL LOAN FEATURES

IIFL Finance offers a diversified portfolio of loan products favouring each requirement. You can find a premium range of lending solutions with flexible repayment schedules. One of the most popular loan options available on IIFL Finance is the personal loan.

The online personal loan comes with convenient lending terms and can help you solve all your financial needs quickly. Furthermore, you can apply for this loan wherever you are through IIFL’s website or app. With an instant personal loan from IIFL Finance, you get the most lucrative EMI schemes, interest rates, and loan tenures available in the industry.

PERSONAL LOANS RANGING FROMINR 5,000 to INR 5,00,000
RATE OF INTEREST12.75% - 34.75% (reducing balance interest rate)
TENURE03 months to 42 months
DOCUMENTS REQUIREDOnly PAN, Aadhar & Bank Statements required
PROCESSING FEE2% - 4% ([Min ₹750 to be Charged] Additional Convenience Fee of ₹500 will be charged)

BENEFITS OF IIFL BUSINESS LOANS

The business loan from IIFL finance comes with its own set of perks and advantages, here are some of them:

  • Speedy Disbursal: Quick disbursal is possible when applying for a business loan. You can then carry out business expansion plans or ensure that operations are running well.
  • Flexibility: A commercial loan may also give you the flexibility you need. Small businesses and MSMEs need to be quick while responding to the changing markets. You can utilize a loan to spread out expenses over time rather than burning up all of your cash upfront. It might assist your company in managing cash flow and averting financial problems.
  • Fast & Easy: One major benefit of obtaining a business loan is that little documentation is necessary. Some clients can be approved for loans to support their business expansion goals without providing collateral, a guarantor, or any other security. Numerous lenders also provide doorstep services.
  • Brand Reputation: You may establish your brand and reputation by getting a business loan. A business can boost its visibility and draw in new clients by spending on marketing, advertising, and other promotional initiatives.
  • Affordable Interest Rates: You can reduce your borrowing expenses by using business loans with competitive interest rates, and you can then invest those savings in your company's growth and expansion. These low-interest loans can also help businesses manage their cash flow and preserve their financial security. Interest rates can range from 12.75% to 44% per annum, depending on the market.
  • Enhance your credit rating: Your company's credit rating might be raised with the aid of a business loan. You can show that you are financially responsible and deserving of credit in the future by making timely loan payments.

Check out the business loan EMI calculator to know exactly how much your EMI will turn out to be based on your requirements.

Business Loan Rates and Charges

Planning, organizing, hiring employees, and other variables are all important when starting a firm. Without sufficient funding, it is very hard for these efforts to bear fruit. Business loans make it possible for owners to raise money in the right way, right away and lessen the likelihood of running out of money to cover their needs.

The most important aspect of appropriately funding a firm is obtaining the ideal business loan, which heavily depends on the interest rate of the loan. The business loan options from IIFL Finance are created to provide appealing and inexpensive business loan interest rates to help you achieve your business goals without putting a strain on your finances. You receive the best business loan interest rate in India when you borrow money from IIFL Finance. This rate is individualized based on your desired loan amount, the loan term, and your financial position.

Business Loan Upto 30 Lakhs

  • Interest Rate

    12.75% - 44% Per Annum

  • Processing Fee

    2% to 6 % + GST* (Additional Upto ₹500 will be charged as Convenience Fees)

  • Cheque / ACH Return Charges

    ₹ 500/ + GST*

Documents for Business Loan

The following documents must be submitted by proprietorships, partnerships, Pvt. Ltd., LLPs, and one-person companies in order to complete the application.

Documents for 30 Lakhs

  • Selfie

    Selfie

  • Id Proof

    Id Proof (PAN Card)

  • Id Proof

    Address Proof
    (Aadhar Card/Driving License)

  • Bank Statement

    06 - 12 Months CA/SA
    Bank Statement

  • KYC documents - Identity proof and address proof of the borrower and all co-borrowers
  • PAN Card of borrower and all co-borrowers
  • Last (6-12 Months) months bank statement of main operative business account
  • Signed copy of standard terms (term loan facility)
  • Additional document(s) may be required for credit assessment and processing of loan request
  • GST Registration.
  • Previous 12 months' bank statements
  • Proof of business registration
  • PAN Card and Aadhar Card copy of the Proprietor(s).
  • Deed copy and company PAN Card copy in the case of partnerships

Please note, If your mobile number is not registered with UIDAI for Aadhar, you will not able to do eKYC.

IIFL PERSONAL LOAN ELIGIBILITY CRITERIA

FOR SALARIED EMPLOYEES WORKING IN AN ORGANISATION:FOR SELF-EMPLOYED INDIVIDUALS:
  • Minimum age of 23 years.
  • Business existence of three years minimum
  • Maximum age of 60 years or retirement (whichever is early) at the time of loan maturity.
  • Minimum age of 25 years
  • Maximum age of 65 years at the time of loan maturity

How to Apply for a New Business Loan

  • Submit Application: Get started with a simple online application form.
  • Submit Documents: Submit necessary documents online for easy verification.
  • Quick disbursal: You can get a business loan quickly

Why Choose IIFL For Your Business Loan?

  • Convenience of Online Process: Our online business loan application process is simple and easy to use.
  • Flexible Loan Terms: Our loan terms are flexible, allowing you to customize your loan repayment plan.
  • Competitive Interest Rates: We offer competitive interest rates, so you get the best value for money.
  • Dedicated Support Team: We have a dedicated customer support team ready to assist you with all your queries.
  • Simplified Documentation Process: Our online documentation process is fast, secure, and convenient.
  • Collateral Free Loans: Get up to Rs. 30 lakhs in funding, with no collateral required.
  • Secure Platform: We use advanced security technology to keep your data safe and secure.

How To Use MSME Business Loan From IIFL?

  • Diversify your product/service portfolio: Use the online business loan to invest in new products or services that can boost your sales.
  • Upgrade existing machinery/equipment: Upgrade machinery and equipment to increase production capacity or improve efficiency.
  • Hire skilled professionals: Hire experienced and professional staff for better operations and improved customer service.
  • Rent office space: Get a loan to rent the perfect office space for your business and make it more attractive to potential customers.
  • Open new stores/outlets: Expand your reach by opening up new outlets across different locations.
  • Marketing & Advertising Expenses: Invest in efficient marketing strategies that can help you reach out to a wider audience in less time.
  • Restock inventory: Make sure you never run out of stock and always have the necessary inventory ready.
  • Bolster working capital: Increase your working capital to ensure smooth operations and better cash flow.
  • Improve business infrastructure: Upgrade your business infrastructure with the online loan and make your business more efficient.
  • Manage operational costs:Get a loan to manage operational costs, such as rent, utilities, and salary expenses.

Check out the business loan EMI calculator to know exactly how much your EMI will turn out to be based on your requirements.

BUSINESS LOAN FAQs

Are there any foreclosure charges for a business loan with IIFL Finance?

Prepayment / Foreclosure (01- 06 Months of EMI Repayment) : 7% + GST*

Prepayment / Foreclosure (07- 24 Months of EMI Repayment) : 5% + GST*

Prepayment / Foreclosure (More Than 24 Months of EMI Repayment) : 4% + GST*

Which entities can apply for Business Loans

We just take proprietorship.

Are there any foreclosure charges for a business loan with IIFL Finance?

Yes, the fees for prepayment and foreclosure (for the first six months of EMI repayment) are 7% plus GST.

Can startups apply for a business loan?

Yes, by completing the online loan application and attaching the necessary KYC documents, startups can apply.

What is the limit of a business loan?

With IIFL Finance, you can take a loan of up to Rs 30 lakh.

Which entities can apply for a business loan?

A business loan may be availed by a proprietorship, partnership, Pvt. Ltd/LLP/one-person company, etc.

Is partial payment allowed in a business loan?

Yes, you may make a partial payment. You should check to see if the lender has this service though, as it differs from lender to lender.

How can SMEs get a business loan from IIFL Finance?

You can apply for a business loan from IIFL Finance for your SME if your company meets the prerequisites outlined above.

Is a business loan helpful for the business?

Yes, it's advantageous to the company because you can use the money to make investments in it and make sure it runs smoothly.

What is an MSME business loan?

Micro, small, and medium-sized businesses are eligible for an MSME business loan.

What is the minimum required turnover to be eligible for a business loan from IIFL Finance?

Your company must have generated Rs. 90,000 in revenue over the three months prior to the application date.

How to calculate EMI for my business loan?

To figure out your loan's EMI, utilize the business loan EMI calculator on the IIFL website.

What can I do to speed up my approval process?

By submitting your loan application online and finishing eKYC, you can hasten the loan approval process.

Who should use a business loan?

A business loan can be used to fund the costs of infrastructure, operations, production, expansion, advertising, and marketing, among other things.


ACCESS YOUR LOAN ACCOUNT ON-THE-GO

IIFL Loans Mobile App

  • Account Summary

    Account Summary

  • Account Summary

    Make EMI Payment

  • Account Summary

    Complete A/c Statement

  • Account Summary

    Submit A Query

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6 MILLION + HAPPY CUSTOMERS

Business Loan
The rates and charges are predefined and are presented with utmost clarity to ensure there are no hidden costs. The loan process ensures that you understand the amount you will have to pay to avail of the personal loan online, and how you can calculate your loan EMI.
Business Loan
The rates and charges are predefined and are presented with utmost clarity to ensure there are no hidden costs. The loan process ensures that you understand the amount you will have to pay to avail of the personal loan online, and how you can calculate your loan EMI.
Business Loan
The rates and charges are predefined and are presented with utmost clarity to ensure there are no hidden costs. The loan process ensures that you understand the amount you will have to pay to avail of the personal loan online, and how you can calculate your loan EMI.

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IIFL Securities Support Whatsapp Numbericon +91-9892691696
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2023, IIFL Securities Ltd. All Rights Reserved
IIFL Customer Care Numbercall-icon1860-267-3000 /7039-050-000

Gold/NCD/NBFC/Insurance and NPS

IIFL Securities Support Whatsapp Numberwhatsapp-icon +91-9892691696
Download The App Now
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