| BANKS/NBFCs | INTEREST RATES | LOAN TENURE | PROCESSING FEES |
| Standard Chartered Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Deutsche Bank | 16%-18% (p.a) | 1-4 Years | Upto 2% |
| HDFC Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| ICICI Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Kotak Mahindra Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Axis Bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| RBL | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| IDFC First bank | 15%-18% (p.a) | 1-4 Years | Upto 2% |
| Yes Bank | 16%-18% (p.a) | 1-4 Years | Upto 2% |
| Aditya Birla Finance Limited | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| Tata Capital | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| Hero Fincorp Ltd | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| Bajaj Finance ltd | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| NeoGrowth | 16%-19% (p.a) | 1-4 Years | Upto 2% |
| U Gro | 16%-19% (p.a) | 1-4 Years | Upto 2% |
Business Loans in Noida: Noida, situated in the Gautam Buddh Nagar District of Uttar Pradesh, is a well- planned city administered by the New Okhla Industrial Development Authority (NOIDA).
As a integral part of the National Capital Region of India, Noida has famous for its highly efficient infrastructure, exceptional ammenities, lush greenery, and expansive road networks.
Covering an area of 203.16 km square, the city borders Delhi, and interestingly, over half of its residents regularly commute from Noida to Delhi for job puposes. This well-planned urban center stands out as one of the finest examples of modern city development in India.
Prevalent Industries in Noida
Noida has now become a hub for software and mobile app development companies, playing a major role in city’s economy.
Big multinational corporations such as IBM, EXL Service, TSYS International, AON Hewitt, Abstract Consultancy, Sparta Consulting, Accenture, TCS, Fujitsu, Ebix, Tech Mahindra, CSC, Fiserv, The Smart Cube, Metlife, HCL, Tribal Fusion, Indus Valley Partners, Adobe, DELL, One97, Patni Computers, Corbus, JK Tech, and others have established their presence in the city.
With its designation as a special economic zone, coupled with a suburban ambiance and close proximity to Delhi, Noida has become an attractive destination for numerous companies to set up their branch offices in the city. .
Types of Business Loans in Noida
There are various types of Business Loans offered in Noida, some of which include:
| Business Loan Type | Uses |
| Unsecured Business Loans | These are term loans used to finance long-term or short-term business needs and can be used for Business Expansion/Business Operations. |
| Working Capital Loans | They are used to finance short-term business needs and can be used for cash flow management, Business Operations, and to fulfil short-term liabilities. |
| Secured Business Loans | They are usually taken against the security of collateral and used for financing long or short-term business needs. They usually have lower interest rates than an unsecured business loan due to collateral security. |
| Loans against Property | Business Loans against Property are taken against the security of commercial, industrial, or residential property and may have a higher loan amount sanctioned based on the market value of the property and the LTV ratio. |
| Equipment Loans | Equipment Loans are usually taken to upgrade machinery or to buy new equipment. |
| Bill Discounting/Invoice Discounting | Bill Discounting is usually used to finance the working capital needs of a business. |
Business Loan EMI Calculator
Purpose of Business Loans in Noida
The most common reasons for taking out a business loan include:
- Business owners in Noida might opt for business loans to set up new offices, or set up new branches.
- Companies may choose to take out business loans to invest in hire employees, training programs, and employee development initiatives.
- In order to stay in the league, enterprises might take up business loans to fun research and development projects or set up marketing campaigns.
- The loans can assist businesses in Noida in adopting the latest technologies, automating processes, and improving efficiency.
Documents required for a Business Loan in Noida
The documents required for a Business Loan in Noida may vary based upon the type of business loan. However, the following documents are usually sought by banks and NBFCs for a small business loan in Noida:
| KYC Documents of the owner and the business: The foundation of your journey. For both you and your business, we require: | 1. Personal Identification: PAN Card, Aadhaar Card, Voter’s ID Card, Driving License, etc. 2. Address Proof: Passport, Utility Bills, Lease Agreement, Trade License, etc. 3. Business Legitimacy: GST Registration, UDYAM Registration, Business PAN Card, Licenses issued by Municipalities, Registration certificates from relevant authorities, etc.. |
| Financials: Your economic blueprint, essential for a tailored loan strategy, includes: | 1. Narratives: ITR filings for the last 2 years, complete with Income Computation. 2. Business Health Check: Audited Balance Sheets and Profit & Loss Statements for the last 3 years, certified by a CA. Bank Statements from the last 2 years, revealing your financial journey. 3. License issued by Municipalities, GST Registration Certificate, Registration certificates by appropriate authorities, etc |
| Proof of Ownership or Collateral Documents (In case of secured loans) | 1. Proof of ownership or collateral documents, including property deeds, sale agreements, possession letters, and asset valuation (if applicable). |
Eligibility Criteria for Business Loans in Noida
To avail Business loans in Noida, the borrower must fulfil the following eligibility criteria:
| Particulars | Requirement |
| Citizenship | The business owner must hold an Indian citizenship. |
| Age | The borrower must be at least 21 years old, and the maximum age must not be more than 65 years old at the time of loan maturity. |
| Business Vintage | The business must be at least 2 years old. |
| Credit Score | The promoter and the business must have a good credit score of over 650. The credit score of co-applicants is also checked wherever applicable. The credit score has a crucial role to play in determining the creditworthiness of the borrower. It determines the limit of the lender’s credit exposure based on the repayment history of the business. |
Interest rates and Charges on Business loans in Noida
The interest rates on Small Business Loans in Noida can vary from lender to lender. However, here is an overview of the interest rates and charges on various types of business loans in Noida:
| Business Loan Type | Interest Rate |
| Unsecured Loans | Starting from 16% p.a. |
| Working Capital Loans | Starting from 9% p.a. |
| Secured Business Loans | Starting from 8.85% p.a. |
| Loans against Property | Starting from 8.85% p.a. |
| Equipment Loans | Starting from 9% p.a. |
| Bill Discounting/Invoice Discounting | As per the financial institution |
Interest rates by various banks and NBFCs for Loan Against Property in Noida
| Banks / NBFCs | Interest Rates | Tenure | Processing Fees |
| HDFC Bank | Starting 8.80% | Maximum 15 years | 0.50% |
| ICICI Bank | Starting 9% | Maximum 15 years | 0.75% |
| Kotak Mahindra Bank | Starting 9% | Maximum 15 years | 0.75% |
| Axis Bank | Starting 9% | Maximum 15 years | 0.50% |
| IDFC Bank | Starting 9% | Maximum 20 years | 1% |
| Standard Chartered Bank | Starting 9% | Maximum 15 years | 0.50% |
| Deutsche Bank | Starting 9% | Maximum 15 years | 0.75% |
| Bajaj Finance | Starting 9.5% | Maximum 15 years | 1% |
| L&T Finance | Starting 9.5% | Maximum 15 years | 1% |
| India Bulls | Starting 10% | Maximum 15 years | 1% |
| RBL Bank | Starting 9% | Maximum 15 years | 1% |
| Hero Fincorp | Starting 10.50% | Maximum 15 years | 1% |
| HDB Finance | Starting 9.5% | Maximum 15 years | 1% |
| HSBC | Starting 9% | Maximum 15 years | 0.50% |
| Shinhan Bank | Starting 9% | Maximum 15 years | 0.50% |
| AU Small Finance Bank | Starting 9.25% | Maximum 15 years | 1% |
How to apply for Business loans in Noida through OneNDF
The process of applying for Business loans in Noida may differ based on the type of business loan availed.
Many banks at times provide business loans specifically catering to the business cash flow requirements of MSMEs, however, given the lack of knowledge about business loans offered and the opaqueness in the loan application process, small businesses are often unable to get any financial support and end up running from pillar to post to get a business loan.
To apply for a business loan on OneNDF, please follow these streamlined steps:
1. Sign-Up Process:
- Click on the “Sign-up” button to begin your journey with OneNDF or Click here
- Enter your mobile number to receive a One-Time Password (OTP) for verification.
2. Business Authentication:
- After signing up, provide your PAN number. This step is crucial for verifying your business identity.
3. Registration and Profile Completion:
- Complete the registration process to build your profile on the platform. A comprehensive profile increases the success rate from initial login to loan sanction.
4. Credit Score Check:
- We will conduct a soft-pull of your credit score. This process does not generate an inquiry, thus not affecting your credit score.
5. Financial Information:
- You can upload the Downloaded ITR for your business (detailed PDF) or you can authenticate the credentials for the ITR portal and we will fetch this information and give you a snapshot . This helps in assessing your business’s financial stability.
6. GST Returns:
- Authenticate the GST credentials. Loans are provided to MSME clients, including both self-employed professionals and non-professional business owners based on their GST returns. ((This information can serve as a quick snapshot to help you understand your business better. It allows you to identify your top suppliers and buyers and monitor your returns effortlessly with just a click, eliminating the need to rely on your accountant for this data.))
7. Banking:
- Provide banking details for the last 12 months. This helps in analysing your banking turnover and financial transactions.
Upon completing these steps, we will tailor loan offers from lenders that best fit your requirements. Additionally, a comprehensive profile of your business will be created. This profile not only helps you understand your current business health but also provides recommendations on improving key financial ratios to maintain a healthy bottom line.
FAQs
How can I determine the loan amount suitable for my business in Noida?
The loan amount depends on factors such as your business vintage, creditworthiness, and the purpose of the loan. Financial institutions assess these factors during the application process to determine the appropriate loan amount.
What documents are typically required to apply for a business loan in Noida?
Common documents include Udyam registration, financial statements, tax returns, and KYC documents. The specific requirements may vary between lenders.
Which loan is the best for business?
There are various types of business loan products offered by banks and NBFCs, these include term loans, working capital loans, equipment financing, etc. It is essential to choose the business loan that matches your requirements as well as your eligibility.
What is the typical repayment tenure for business loans in Noida?
Repayment tenures can vary, but they generally range from one to five years. Some lenders may offer longer tenures for larger loan amounts.
Can I prepay my business loan in Noida?
Yes, one can prepay their business loan in Noida. However, lenders might charge some prepayment penalties.
