Business Loan With Low Interest Rate Can Be A Boon

Entrepreneurs need loans for various purposes. A Business Loan may be used to buy new equipment, finance operating costs, purchase inventory or help with business expansion. Both start-ups will use business loans for companies that have been on the market for decades. It is common for companies to collect funds at one point or another. So, if you need a loan and have done some preliminary research, you can quickly find that the market is being flooded with many options.

Here are some of the Best Business Loan In India: 

SBI Business Loan

SBI (State Bank of India) provides various loans, including asset-backed loans, to companies engaged in trading, manufacturing, and services. SBI is one of the largest finance companies for SMEs in India, offering a wide range of financial products and services to over 1.3 million SMEs across the world.A minimum lending amount of Rs. 10 lakhs are given by the SBI.

  • The full loan sum of Rs. 20 crores can be used with the SBI Business Loan 2020. 
  • Flexible repayment tenure from 5 years to 15 years.
  • Processing fee of 1% of the loan amount, with limits of up to Rs. 10 Lakh.
  • The low-interest-rate offered varies from 9.05 percent to 16.30 percent (different depending on the application profile).

HDFC Business Loan 

HDFC Bank business loans are easy, fast, and provide loan seekers with attractive offers as well. The free online business EMI calculator can also be used to pay for your company loan, from which you can understand the EMI. Based on the eligibility of the borrower, you can get a business loan up to Rs. 50 lakhs, which proves that the HDFC business loan is among the best and perfect loans for you and your company. HDFC Bank now provides minimal documents and paperwork for easy loan approval.

  • Business loan Interest rate: 15.65 percent to 21.20 percent per annum 
  • Processing fees: as needed, up to 2.50 percent + GST 
  • Minimum Loan Amount: Rs. 50,000 
  • Sum of maximum loan: Rs. 50 Lakhs 
  • Minimum tenure duration: 1 year 
  • Average tenure duration: 4 years

RBL Bank Business Loan 

When it comes to serving yourself with short-term financial and working capital needs, loans are one of the most popular and ideal solutions. 

  • Minimum Loan Amount- Rs 10 Lakhs 
  • Complete Number of Loan- 35 Lakhs
  • It is an unsecured loan 
  • Loan term option of 12 months to 36 months 
  • Business loan Interest Rate-16.25 percent
  • A loan’s tenure ranges from Rs. 9,085 to Rs. 3,52888

ICICI Bank Business Loan 

ICICI Bank ranks as one of the top business loan providers in India. The competitive interest rates, offers, and flexible tenure make it more valuable for borrowers. Its minimum interest rate and processing fee are some of the best features of the ICICI Bank Business Loan.

  • Interest rate: 16.49% 
  • Application fee & charges: Up to 2% + GST as applicable 
  • Minimum loan amount: Rs. 1 Lakh 
  • Total loan amount: Rs. 40 Lakhs 
  • Minimum tenure duration: 1 year 
  • Average tenure duration: 5 years

Axis Bank Business Loan 

Axis bank provides business loans at lucrative interest rates. The bank has numerous schemes that depend on the eligibility of the borrower to help develop existing companies as well as start-ups. The loan also provides flexible options with minimum interest for the repayment period.

  • Interest rate: 16% onwards 
  • Costs & Fees for production: up to 1.25 percent + GST 
  • Minimum Loan Amount: Rs. 50,000 
  • Total Loan Amount: Rs. 50 Lakhs 
  • Minimum tenure duration: 1 year 
  • Average tenure duration: 3 years

Business Loan Features in India

The characteristics you can get with Business Loan 2021 are shown below: 

  • The offered Business Loan Interest Rate depends primarily on the borrower’s profile and credit score. 
  • The repayment rate is annual or monthly on a business loan. 
  • From the access offered by the respective bank to online banking, the business loan can be handled.
  • You will get different options for loans, as well as various schemes and offers that vary according to your eligibility. 
  • The interest rate paid by the bank on a business loan is lower relative to lenders and financial assets, such as credit cards. 
  • You can also receive tax incentives as the income ratio is used to pay for the business loan.

This is the table showing the typical interest rate that the respective lenders offer: 

Lenders Interest Rate
Axis Bank 15.5% onwards
ICICI Bank 13% onwards
Bajaj Finserv 18% onwards
Capital First Prime 21% onwards
Fullerton Finance 17% onwards
IIFL Finance 18% onwards
HDB Financial Services Ltd. 18% onwards
HDFC Bank 13% onwards
Hero FinCorp 18% onwards
Indifi Finance 18% onwards
Kotak Mahindra Bank 16% onwards
Lendingkart Finance 18% onwards
NeoGrowth Finance 21% onwards
PaySense Services India Pvt. Ltd. 18% onwards
RBL Bank 18% onwards
Tata Capital Finance 18% onwards
ZipLoan 18% onwards


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