Small Business Loan
India is a country of business loan opportunities of many small and medium-sized enterprises ranging from retail to manufacturer. Small business loans can be secured and unsecure depending on the amount and profile of the borrower. It can be offered by many banks, NBFCs (Non-Banking Financial Companies), or financial institutions.
The borrower can get maximum loan amount of Rs. 2 crores with a flexible repayment schedule of 36 months at an attractive rate of interest of 14.50%.
Details of various banks in India
HDFC Bank
The applicant can get loan amount up to Rs. 50 lakhs at an affordable interest rate of 11.90% to 21.35%.
Axis Bank
The loan amount provided by Axis Bank are Rs. 50,000 to Rs. 50 lakhs and the interest rate will be selected by the terms & conditions of the banks.
RBL Bank
The borrower can avail a maximum amount of up to Rs. 10 lakhs at an affordable interest rate with a tenure of up to 12 to 60 months (about 5 years).
Bank of Baroda
This bank offers loan amounts up to Rs. 5 lakhs and the interest rate and loan tenure will be chosen by the terms & conditions of the bank.
IIFL Finance
The borrower can avail a maximum amount of up to Rs.50 lakhs at an affordable interest rate of 16% to 30% per annum with a tenure of up to 12 to 36 months.