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Email: info@workloans.in 
| Bank | Business Loan Interest Rates | Processing Fee |
|---|---|---|
| SBI Business Loan | 11.20% | From 2% to 3% |
| HDFC Bank Business Loan | 15.65% | Starting from 0.99%, Max 2.50% |
| ICICI Bank Business Loan | 16.49% | Starting from 0.99%, Up to 2% |
| Citibank | 16.00% | Upto 2% |
| RBL Bank | 16.25% | 1.80-2.20% of loan amount |
| Tata Capital | 18.00% | From 1.50% to 2.50% |
| Lendingkart | 18.00% | 2% of loan amount |
| Bajaj Finserv | 18.00% | Upto 2% of loan amount |
| IDFC First Bank | 22.00% | 2.00% |
| IIFL | 16.00% | Up to 2% |
| Bank of Maharashtra | 14.50% | 1.00% of loan amount, Min Rs. 1,000 |
| IndusInd Bank | 14.00% | 2.50% |
| Kotak Bank | 16.00% | Upto 2% |
| Fullerton India | 16.00% | 2% |
| Indifi | 24.00% | 2 to 3% |
| Neogrowth | 19.50% | 2.5% of loan amount |
| IDBI Bank | 12.25% | 1.00% |
| Allahabad Bank | 11.15% | Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928 |
| Yes Bank | 16.25% | Up to 2% |
| PNB | 12.65% | 1.8% + taxes |
| OBC | 11.40% | 0.50% of Loan Amount |
| Indian Overseas Bank | 14.90% | Rs. 204 per lakh |
| Dhan Laxmi Bank | 12.90% | |
| DCB Bank | 10.70% | 2% |
| Andhra Bank | 15.75% | Case to Case |
| United Bank of India | 13.00% | 1.15% |
| Corporation Bank | 13.55% | 1.5%, Min Rs. 500 |
| Syndicate Bank | 12.65% | 0.5%, Min Rs. 500 |
| Bank of Baroda | 14.10% | Upto 1.00% |
You can choose to apply for a business loan through the traditional channel of visiting a bank branch or through a DSA. However, if you are looking for quick business loans without collateral, you can simply apply online at workloans. You can compare loan interest rates online and also use online Eligibility Calculator to get a rough estimate of your business loan eligibility. Once you fill your basic personal, business and income details, you will get a list of best bank business loan offers. Once we receive your details and also the bank offers you are interested in, we will work closely with our partner banks to ensure that you get best business loans at cheapest rates. workloans representatives will coordinate with you and partner banks throughout the loan process to ensure that you get quick and easy approval with minimal paperwork.
Secured Loans for Businesses
These loans are those which are taken against some type of personal guarantee or any valuable asset as collateral. Inventory loans, equipment loans, term loans and loan against property are secured business loans.
Unsecured Loans For Businesses
In many situations, businessmen and self employed prefer to take unsecured business finance with no collateral requirement because of the following reasons:
This page contains detailed information about business loan without collateral. To know about secured business loan, you can visit our loan against property page
Banks use multiple factors to calculate the loan amount elibility of its borrowers. workloans Business Loan Eligibility Calculator uses the following factors to give you an estimate about your loan eligibility, amount of loan and best interest rate offer.
| Parameters | Business Loan Eligibility Criteria |
|---|---|
| Eligible Entities | Self employed non professionals – Sole proprietors, partnership firms, private limited companies, public limited companies involved in the business of manufacturing, trading and services Self employed professionals – Doctors, CA, CS, Architects. |
| Age | 21 - 65 years |
| Loan Amount | ₹ 50,000 to ₹ 100 Cr |
| Interest Rate | 13.50% - 24.00% |
| Loan Tenure | Up to 5 years |
| Business Vintage | For self employed professional - 3 years For self employed businessmen - 5 years |
| Annual Turnover | ₹ 1 Cr and above |
| Banking Stability | 6 months and above |
| CIBIL Score | 650 or above |
| Other Eligibility Conditions | Borrower should have a self owned house or work place |
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