Most leading banks and NBFCs offer a business loan in India at competitive interest rates to help businesses fulfill their business aspirations. The business loan can be used to meet a wide range of business requirements, including working capital needs, purchase of machinery, supply chain financing, asset acquisition, etc.
Best business loans in India 2020
State Bank of India business loan
State Bank of India offers a business loan for a variety of business requirements of different segments of business engaged in manufacturing, service activity, retail trade along with self-employed individuals and professionals.
Key details of SBI business loan are as under:
Why SBI business loan?
- Business loan under multiple categories for several business requirements
- Easily accessible with its pan India presence
- Comparatively lower interest rates
- Higher loan eligibility
ICICI Bank business loan
ICICI Bank offers customized financial solutions for businesses to fulfil their capital related challenges and requirements. Existing bank customers can get an overdraft facility up to Rs. 25 lakh. Key features of ICICI bank business loans are as follows.
Why ICICI Bank business loan
- Lucrative deal
- Overdraft facility up to Rs. 25 lakh
- Instant and hassle-free loan
- Flexible tenure goes from 12 months to 72 months
- A wide range of business loans for SMEs
HDFC business loan
HDFC Bank offers various banking products at an attractive interest rates to its customers. HDFC Bank business loans are offered for different financial requirements of businesses. HDFC business loan of up to Rs. 50 lakh is available without any collateral. Here are the key features of the HDFC Bank business loan.
Why HDFC Bank business loan?
- Hassle-free documentation process and doorstep facilities
- No hidden charges, lowest processing fee, and hassle-free application
- Minimal paperwork and documentation
- Dropline overdraft facility
- Business loan balance transfer facility with ease
- Tax benefits as per applicable laws
Kotak Mahindra business loan
Kotak Mahindra Bank offers a business loan for its borrowers to help them diversify their business. The loan amount offered goes up to Rs. 75 lakhs. The bank also provides funds against credit card receivables (FCCR) up to Rs. 3 crores for borrowers to fulfill their business milestones.
Key features of Kotak Mahindra Business Loan are as under.
Why Kotak Mahindra’s business loan?
- Loan amount available ranges from Rs. 5 lakhs to Rs. 75 lakhs
- Hassle-free and quick approval
- FCCR up to Rs. 3 crores
- Unsecured business loan
Axis Bank business loan
Axis Bank business loans are available with attractive features such as competitive interest rate, nominal processing fees, no foreclosure charges, no prepayment charges, etc. With Axis Bank, you can get a business loan for a variety of financial requirements of a business, such as business expansion, business property, working capital and purchase of equipment. Key features of an Axis Bank business loan are as under:
Why Axis Bank business loan
- The minimum age requirement to get a business loan
- Quick approval with minimal documentation
No foreclosure charges