Business Loan- Overview
An unsecured business loan in India is a type of financing that does not require the borrower to provide any collateral. These loans are ideal for small and medium-sized enterprises (SMEs) looking to finance their working capital needs, expand operations, purchase inventory, or invest in marketing efforts. Typically offered by banks, non-banking financial companies (NBFCs), and online lenders. Unsecured business loans come with flexible repayment terms and quick disbursal, making them a convenient option for businesses seeking timely financial support without risking their assets. However, due to the higher risk for lenders, these loans often come with higher interest rates compared to secured loans.
Expertise with JJ finsure
Our Specialization
• Project Loan
Commercial Loans
• Working Capital
• Property Loans
• Home Loans
• Lease Rental Discounting
• Restructuring of Loans
• One time settlement of Loans
• Term Loans
• OD / CC
Business Loan Interest Rate 2024
| Interest Rate | 14.5% * |
| Lowest EMI @ 14.5% for 3 Years | Rs. 3442 per lakh |
| Loan Tenure | From 3 years to 5 years |
| Loan Amount | Min Rs. 5 Lakh and Max Rs. 50 Lakhs from single lender |
| Processing Fee | Minimum 2% Maximum 5% of loan amount with applicable tax |
| Annual Percentage Rate @ 14.5% ROI and 2% PF + GST | 16.19%, This means the actual ROI to the customer will be 16.19% |
| Prepayment, Foreclosure Charges | Allowed after 12 complete emis and with 4-5% foreclosure penalty + GST |