Apply for Business Loan in Delhi NCR Online
Business Loan in Delhi
In the bustling capital of Delhi/NCR, where dreams take shape, building a solid financial foundation is key for new entrepreneurs. With a surge in talent and creativity, the demand for business loans in Delhi/NCR has skyrocketed, providing vital support for those eager to start or expand their ventures.
Banks and financial institutions offer a variety of options for small business loans in the region, making the journey to entrepreneurial success a bit smoother. This financial assistance represents a beacon of hope, particularly for those hardworking individuals who come from humble beginnings. It opens doors to cover essential expenses for launching or growing their businesses, paving the way for success and growth.
Table of Contents
Interest rates and Charges on Business loans
The interest rates on Small Business Loans in Delhi can vary from lender to lender. However, here is an overview of the interest rates and charges on various types of business loans in Delhi:
| Business Loan Type | Interest Rate |
|---|---|
| Unsecured Loans | Starting from 16% p.a. |
| Working Capital Loans | Starting from 9% 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 Business Loan in Delhi NCR
| Bank/ NBFCs | Interest Rate | Tenure | Processing Fee |
|---|---|---|---|
| SBI Bank Business Loan | 14% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| IndusInd Bank Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| SMFG Business Loan | 17% – 21% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Bank of Baroda Business Loan | 17% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| HDFC Business Loan | 14% – 18% p.a. | 1-4 years | Up to 2% of loan amount |
| ICICI Bank Business Loan | 16% – 18% p.a. | 1-4 years | Up to 2% of loan amount |
| Axis Bank Business Loan | 15% – 18% p.a. | 1-4 years | Up to 2% of loan amount |
| Standard Chartered Bank Business Loan | 15% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Deutsche Bank Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Kotak Mahindra Bank Business Loan | 15% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| RBL Bank Business Loan | 15% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| IDFC First Bank Business Loan | 15% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Aditya Birla Finance Ltd Business Loan | 17%-18% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Yes Bank Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Tata Capital Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Hero Fincorp Ltd Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| Bajaj Finserv Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| NeoGrowth Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
| U Gro Business Loan | 16% p.a. onwards | 1-4 years | Up to 2% of loan amount |
Business Loan EMI Calculator
Applicants can use the Business Loan EMI Calculator given below to calculate the EMIs and total interest cost payable the loan tenure depending on the interest rate, loan amount and loan tenure offered by the lender.
Eligibility Criteria for a Business Loan in Delhi NCR
Below mentioned are the factors that makes an entity eligible for business loan:
| Particulars | Requirements |
|---|---|
| Age (It may vary across lenders) |
21 years at the time of loan application. 65 years at the time of loan maturity. |
| Minimum Business Vintage | 3 years (Some lenders might also take into account up to 2 years of business history). |
| Minimum Business Turnover | Rs 70 Lakhs |
| Credit Score | 750 or above |
| Minimum Income | Rs 1 Lakh p.a. |
| Eligible Entities | MSMEs, Proprietors, Limited Liability Partnership firms, Private Limited Companies, Public Limited Companies, Self-employed individuals or professionals, individual corporations, etc. |
Documents required for a Business Loan in Delhi
The required documents for a Business Loan NCR may vary based on the type of business loan. However, banks and NBFCs generally demand the subsequent documents for a small business loan in Delhi NCR:
| Particulars | Requirements |
|---|---|
| KYC Documents |
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| Business-Related Documents |
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| Financial Documents |
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| Other Important Documents |
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Types of Business Loans in Delhi
There are various types of Business Loans offered in Delhi, 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. |
| 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. |
How to apply for a Business Loan in Delhi through OneNDF
When applying for a business loan at OneNDF, you won’t face overwhelming paperwork or go through a lengthy, tedious procedure. Apply below
Step 1: Visit the official OneNDF website and either create an account or sign in.
Step 2: Register for the funds using your phone number and set up a one-time password.
Step 3: Provide the required financial or identification documents.
Step 4: Complete the application form for the business loan.
Step 5: Through OneNDF, you will engage with multiple lenders willing to provide you with competitive rates on their business loan choices.
OneNDF is an effective tool to build credit profiles with 120+ lenders and Rs 3,000 crores of loans disbursed provides businesses and individuals with information-based insights and advisory services to advance their financial position, helping ensure better access to funding under optimal terms and optical loan solutions.
FAQs
Q.1 Can I get a 50 lakh loan for business?
Yes, several banks and NBFCs like HDFC Bank, ICICI Bank, Axis Bank, and Tata Capital among others provide 50 lakh business loans. You can check your eligibility with various such lenders and apply through OneNDF based on the unique requirements of your business.
Q.2 Which loan is best for business?
The type of loan suitable for businesses depends upon the size of the business and its requirements. While a business wanting immediate capital for operations can take an unsecured business loan or a working capital loan, a company wanting to expand can take a Loan against property at affordable interest rates through OneNDF.
Q.3 How can I get a business loan easily?
You can apply for a business loan online through OneNDF, which ensures that you do not have to physically fill out an application form by going to a bank or NBFC.
Q.4 What is the EMI for a 35 lakh loan?
The EMI for an INR 35 lakh loan at an interest rate of 12% for a tenure of 5 years would be INR 77,856. The instalment can vary depending upon the repayment tenure of the loan and the interest rate of the loan. You can calculate the EMI of your loan using OneNDF’s Business Loan EMI calculator.
Q.5 Who is eligible for a GST loan?
Businesses that have a valid GST Registration Certificate and file their returns from time to time are eligible for a GST loan, which serves as income proof for the lender to determine the eligibility of a borrower.
Q.6 Do we pay GST on a loan?
GST is currently applicable on the processing fee and other charges associated with lending services provided by Banks/NBFCs. However, the interest paid on the outstanding loan amount is exempt from payment of GST.
