Top 10 best Business Loan Provider in 2019

Business Loan

Owning your own business or making it bigger is everyone’s dream, for this purpose you can take a business loan for their financial assistance. It is a kind of debt which you need to pay back with interest in a fixed tenure. You can compare the loan interest of Banks and NBFC s online. So here we will give a list of best business loan providers in 2019.

Bank/ NBFC NameInterest RateProcessing Fee
ICICI Bank16.49%0.99%-2.00%
Yes Bank16.25%Up to 2.00% 
Indiabulls Bank14.00%Up to 1.00%
Fullerton India16.00%2.00%
TATA Capital18.00%1.50%-2.50%
Yes Bank16.25%Up to 2.00%
IDFC16.00%Up to 2.00%
SBI Business Loan11.20%2.00%-3.00%
United Bank of India13.00%1.15%
PNB12.65%1.8%+ Tax
Types of Business Loan in India
  • Overdrafts
  • Term Loans
  • Demand Loans
  • Cash Credit
  • Letter of Credit
  • Bill or invoice discounting
  • Business Loan for women
  • Bank Guarantee
Business Loan Eligibility Criteria
  • Age limit- Minimum age limit for the business person will be 21 years and Maximum age limit is 65 years.
  • Applicant should have minimum 5 years of experience in the business.
  • Applicant must have minimum 3 years of experience in the current business.
  • Business turnover should be a minimum of Rs. 40 lakhs.
  • The ITR report should be of a minimum of Rs. 1.5 lakhs per annum.
  • Last 2 year must experience profit to the business.
  • Following entities will be eligible for a business loan- Private Limited Companies, Partnerships, Limited liability partnership, closely held Limited Companies.
Self-Employed Professionals

The applicants are practicing professionals with proper qualification proof and under the categorization of CA, Doctor, architect etc.

Compulsory Testimonials for Business Loans
  • ID proof of the applicant- AADHAR card, PAN card, Voter ID card.
  • Residence proof- Utility Bills like Electricity bill, Gas bill.
  • PAN card of the company.
  • Bank Statement for the last 6 months.
  • An approved copy of the Partnership Deed.
  • Verified copy of Memorandum and Articles of Association.
  • Business continuation proof- Sales Tax Certificate, Trade License.
  • Copy of ITR file for last three years.
  • Balance Sheet, Computation of Income, Profit and Loss statement for the last 2 financial years.
  • Age limit- Minimum age limit for the business person will be 21 years and Maximum age limit is 65 years.
Self-Employed Professionals

The applicants are practicing professionals with proper qualification proof and under the categorization of CA, architect etc.

Benefits and Features of Business Loan
  • You can borrow from minimum 1lakh to 1crore.
  • The repayment option is flexible.
  • You only can use this money for your business related purpose.
  • The repayment time of a business loan from 6 months to 60 months.
  • The documentation is minimal and if you apply online it is paperless too.
  • There are so many options in loan amount and tenure based on your company size for you to choose.
  • The interest rate is low it starts from 13%
  • You can have co-applicant to get your loan easily.

Apply Personal Loan Online at Lowest Interest Rate Upto Rs. 40 Lacs

*Salary account or relational bank
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Loan Duration: 12 - 60 months*   T&C Apply*

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