BANK LISTS
Business Loan Rate of Interest
Interest Rate is a percentage of the Principal Business Loan amount payable to the lender as charges for borrowing. This Rate of Interest typically applies on the principal amount on an annual basis, which may be known as the Annual Percentage Rate or APR.
| Bank Name | Interest Rate | Processing Fee |
|---|---|---|
| HDFC Bank Ltd | 15% | 0.01 |
| IDFC First Bank | 16% | 0.015 |
| ICICI Bank | 16% | 0.015 |
| Axis Bank Ltd | 17% | 0.015 |
| Bajaj Finance Ltd | 17% | 0.02 |
| Fedfina | 17% | 0.02 |
| Fullerton | 17% | 0.02 |
| Poonawala | 18% | 0.02 |
| Tata | 18% | 0.02 |
| SMC Finance | 19% | 0.02 |
| Indifi | 20% | 0.03 |
| Lendingkart | 19% | 0.025 |
| Dhanvarsha Finvest Limited | 21% | 0.02 |
| Loantap | 21% | 0.02 |
| Neogrowth | 24% | 0.03 |
| Aditya Birla Finance Ltd | 18% | 0.02 |
| Hero Fincorp | 18% | 0.03 |
| Loan Frame | 18% | 0.02 |
| Growthsource | 24% | 0.02 |
| IndusInd Bank | 18% | 0.02 |
| Kotak Mahindra Bank Ltd | 15% | 0.02 |
| Standard Chartered Bank | 16% | 0.02 |
| UGRO | 18% | 0.02 |
| Yes Bank | 16% | 0.02 |
| Edelweiss | 18% | 0.02 |
| Axis Finance | 18% | 0.02 |
Business Loan Interest Rate Types
Banks and NBFCs offer two types of interest rates, namely fixed and floating. The EMI amount changes according to the type of interest rate a borrower chooses.
Fixed-Rate of Interest
When you opt for a Fixed Rate of Interest, the interest rate on your Business Loan remains constant throughout your loan period, and this allows you the freedom to plan your finances.
Floating Rate of Interest
Floating Rate of Interest changes according to the RBI lending benchmark, namely Repo Rate. This means, that although your EMI remain constant, your loan tenure may extend due to rate adjustments.
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