Business Loans

FAQS

What is a Business Instalment loan?

Business Instalment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. It can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals, mostly monthly.

What type of entity can be funded under BIL?

  • Proprietors
  • Partnership firms
  • Pvt Ltd Co
  • Closely held limited co
  • Individuals

What is the loan amount that can be sanctioned?

Based on your kind of business, income and repayment capability, you can get a loan upto Rs 40 lacs.

For some of you high profilers, we are happy to look at your loan requirement that may go beyond Rs 40 lacs

What is the maximum tenure under BIL?

  • Doctor – 60 months
  • CA/CS/ Architect – 48 months *
  • Non- professionals – 48 months*

* with additional conditions met.

What is the minimum business vintage required under BIL?

The minimum business vintage required under BIL is 3 years.

Is there any security or guarantor required for availing Business Installment Loan?

No we don’t require any collateral or security guarantee.

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