IDFC First Limited provides business loan at low interest rates to small and medium sized businesses to meet their business needs. The business loan can be availed by business owners and entrepreneurs for business expansion. The loan can be repaid in easy monthly installments (EMIs). MSMEs engaged in manufacturing, services, retail or wholesale trade activities can avail business loan from IDFC First at affordable interest rates.
Why Business Loan from IDFC?
IDFC First Limited offers business loan at affordable interest rates. The process of availing loan is instant and quick with minimal documentation. Business loan can be used for multipurpose. It can be used for to fulfill multiple business requirements including business expansion and need for working IDFC. You can trust on the services and the excellent customer service approach.
| TYPES OF FEES | CHARGES APPLICABLE |
|---|---|
| Interest Rate | 11.50% to 13.50% |
| Loan Amount | Up to 90% of ex-showroom |
| Loan Tenure | 7 years |
| Per cheque charges for dishonor | Rs. 500 |
| Foreclosure Charges | 5.21% + GST |
| Security Deposit Receipt duplicate issue charges/receipt | Rs. 250 |
| Post-dated cheques swap charges | Rs. 500 per swap |
| Statement of Account | Rs. 500 |
Advantages of IDFC Business Loan
IDFC First Limited provides attractive benefits and advantages to its customers to select it as its lender for business finance.
Who can apply?
A self-employed individual, sole proprietorship firm, partnership firm, private limited company and closely held limited company, doctors and other professionals can apply for business loan.
Business Stability
Individuals who have an experience of at least three years in current business are eligible.
Age
The age of the borrower should be at least 23 years and above at the time of applying and 65 years at the time of loan maturity.
Before applying for a business loan online check out the essential documents required:
| Check your eligibility and fill in the Used Car Loan Application Form | Compare various Used Car Loan options, and apply for the best option | After successful submission of the application get quick approval |
One can apply online for business loan through our website with few simple steps by registering online:
First, register with us by providing the following details:
For further queries you can go through www.idfcbank.com
A. Business Installment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. It can be availed for any business upgrade or equipment purchase, which is repaid in equal installments at fixed intervals, mostly monthly.
A. Based on your kind of business, income and repayment capability, you can get loan up to Rs 40 lakhs.
A. The minimum business vintage required under BIL is 3 years.
A. No, requirement of any collateral or security guarantee.
Competitive and transparent process
Umesh Yadava
I compared the features with other banks online and found IDFC the most convenient one.
Anju Jain
I need not visit the bank premises, everything was handled online and even executives visited my home to complete the process.
Garima Gandhi
