To start any business or to carry on the functionality of the existing business one needs funds. But the question arises from where you can get these funds. A business loan may be the answer to all such questions. What is a business loan? A business loan is something similar to personal loan, but it is specially desigend to meet your business requirements and goals. With a business loan, you borrow a certnain amount of money for a tenure, with interest rate and monthly repayment option are fixed with the term.
These loans can be secured as well as unsecured. Secured business loans generally have lower interest rates. Apart from a business loan a financial institution may have other kind of products like overdraft facilities to take care of the business needs of the individuals.
From where I can get a business loan.
There are many banks which can offer a business loan to eligible business owners.
|Bank||Interest Rates||Processing Fees||Tenure||Disbursal Time|
|HDFC BANK||15% - 19%||2.49%||12-36months||4-Working Days|
|ICICI BANK||16%-22%||2.00%||12-36months||5-Working Days|
|TATA Capital||18%-24%||2.50%||12-36months||5-Working Days|
|BAJAJ FINSERV||19%-23%||2.00%||12-60months||2-Working Days|
|YES BANK||15.5%-21%||2.00%||12-60months||5-Working Days|
|RBL BANK||19%-26%||2.50%||12-36months||5-Working Days|
|Fullerton India||22%- 29%||3.00%||12-36months||7-Working Days|
|Capital First||18%-25%||3.00%||12-48months||4 to 5-Working Days|
|Aditya Birla||20%-26%||2.00%||12-36months||3-Working Days|
|Kotak Bank||18%-23%||2.50%||12-36months||7-Working Days|
Let's have a close look on the business loans offered by some of the reputed banks in India.ICICI Bank – Get Quote For ICICI Bank Business Loans a. Secured Loans
HDFC Bank - Get Quote For HDFC Business Loans
HSBC Bank – Get Quote For HSBC Business Loans
SBI – Get Quote For SBI Business Loans
SBI has an array of loan products for small and medium business enterprise-
SME Smart Score
Fullerton India – Get Quote For Fullerton India Business Loans
Bajaj Finserv – Get Quote For Bajaj Finserv Business Loans
RBl Bank – Get Quote For RBL Bank Business Loans