Interest Rate for Business Loan

Business Loan Interests are certainly the figures about which the borrowers need to be concerned the most. To repay a business loan, a borrower has to interest along with the principal amount. These interest payments compensate the lenders for the rising prices and serve like a reward for temporarily giving up their ability to spend.


 


Interest rate (%)

Loan amount (Rs. Lakhs)

Processing fee (% of loan amount)

Tenure (Years)

Pre-closure details

Document requirement

Eligibility age (Years)

Options

Allowed after (Months)

Charges (% of outstanding amount)

Income documents (Years)

Bank statement (Months)

Bajaj Finance

14.5% - 21%

5 - 30

2.0%

1 to 4

0

0% - 4%

2

6

23 - 62

Fullerton

17% - 32%

1.5 - 20

3%

1 to 5

6

3% - 4%

2

6

21 - 65

HDFC Bank

14% - 22%

1 - 40

2% - 2.5%

1 to 5

6

4%

2

6

20 - 65

Standard Chartered Bank

19%

10 - 30

2%

1.25 to 3

12

5%

2

6

25 - 65

TATA Capital

18% - 19.5%

3 - 35

2%

1 to 3

6

4%

2

6

23 - 65

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