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Working funds for a running business, with nothing pledged and a decision in about a week.
An unsecured business loan gives a running business a lump sum without pledging property or machinery. It is the quickest way to fund stock, a large order, a new hire or a second location.
Limits usually run from ₹1 lakh to ₹50 lakh, over one to four years. The amount is driven by your average monthly bank credits, your GST turnover and your declared profit. As a rough guide, many lenders sanction between one and two times your average monthly turnover.
Business vintage of at least two to three years. Twelve months of current account statements showing steady credits and healthy average balance. GST returns filed on time. Filed ITRs. And your personal credit score, because in a proprietorship or partnership the lender is lending to you as much as to the firm.
No security means a higher rate, usually 14% to 24%, and a shorter tenure. If the need is long-term, such as buying premises or a major expansion, a secured loan will cost you far less. Use an unsecured loan for a need that will generate cash quickly.
We assess your banking and GST data before applying, so you know the realistic number rather than the advertised one. We also compare the total cost including processing fee and any insurance the lender bundles in.
Your property and machinery stay unencumbered and available as security for a cheaper loan later.
With clean GST and banking data, sanction typically comes in three to seven working days.
Interest on a loan used for business purposes is an allowable business expense. Confirm the treatment with your CA.
Repaying this cleanly for 12 to 18 months makes the next, larger and cheaper facility much easier to obtain.
| Business vintage | At least 2 to 3 years of continuous operation |
|---|---|
| Annual turnover | Generally ₹20,00,000 and above |
| Filed returns | Last 2 years ITR and regular GST filings |
| Banking conduct | 12 months of statements with minimal cheque returns |
| Credit score | 700 and above for the proprietor, partners or directors |
These are typical criteria. Individual lenders vary, and we will tell you which ones are flexible on your particular case.
You do not need any of these to enquire. We only ask for documents once we know which lender we are approaching.
Pre-filled with this product's own rate band and limits.
Pre-filled with the indicative rate band for Unsecured Business Loan. Move the sliders to match your own case.
Eleven lakh
2 yr 10 mo
Your monthly EMI
₹39,379
for 2 yr 10 mo
These numbers are indicative. Your actual offer depends on the lender. Most loans in India are floating rate, so the EMI can change when the RBI moves rates.
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