Features and benefits
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Easy repayment options
This loan gives you the option to pick a comfortable tenor that ranges up to 96 months.
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Flexi facility
For added financial flexibility, you can opt for the Flexi loan facility. This allows you to reduce EMI outgo by up to 45%*.
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Personalised loan deal
To expedite loan processing and avail of special terms, check for a pre-approved loan offer by sharing basic details.
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Online loan management
Access key loan information such as loan statements and manage your EMIs digitally with the online customer portal.
Unsecured business loans have an attractive advantage over secured loans in that you do not have to provide collateral to avail of them. This means that taking an unsecured loan in India for business expenses helps safeguard your assets.In addition to this benefit, an unsecured business loan comes loaded with several attractive features.
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Eligibility criteria and documents required
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Age
24 years to 80 years*
(* Age should be 80 years at the time of Loan Maturity) -
CIBIL score
685 or higher
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Work status
Self-employed
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Nationality
Indian
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Business vintage
At least 3 years
You will need the following documents to apply
- KYC documents
- Proof of business ownership
- Bank statements of the previous months
- Other financial documents
Interest rate and charges
We ensure 100% transparency with all fees and charges applicable to our loans. Refer to the following table for the interest rate and a breakup of a few fees you may have to pay.
| Type of fee | Applicable charges |
| Rate of interest | 9.75%- 30%per annum |
| Processing fees | Up to 3.54%of the loan amount (inclusive of applicable taxes) |
| Bounce charge | In case of default of repayment instrument,Rs. 1,500/-per bounce will be levied. |
| Document processing charges | Up to Rs. 2,360/-(inclusive of applicable taxes) |
| Flexi Fee | Term Loan-Not applicable
*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
| Penal interest | Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment. |
| Pre-payment charges | Full Pre-payment
Part Pre-payment
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| Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from the loan amount. |
| Mandate rejection charges | Rs. 450/-per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered |
| Broken Period Interest/ Pre-EMI Interest | Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged: |
| Annual maintenance charges | Term Loan–Not Applicable Flexi Term Loan (Flexi Dropline):Up to 0.295%(inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan:Up to 1.18%(inclusive of applicable taxes) of the total withdrawable amount during initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure. |
| Switch Fees* | Up to 1.18% of the loan amount (inclusive of applicable taxes) |
*Switch Fee is applicable only in case of switch of loan. In switch cases, Processing Fees and Documentation Charges will not be applicable.
How to apply
- 1 Click on ‘APPLY ONLINE’ to open the online application form
- 2 Enter your basic information and input the OTP sent to your mobile number
- 3 Fill in your personal and business information
- 4 Upload the bank statement for the last 6 months and submit your application
Our representative will call you once you’ve applied for loan processing assistance.
*Conditions Apply
**Document list is indicative
