IIFL Finance is a leading non-banking finance company (NBFC) that provides business loans to small and medium-sized enterprises (SMEs). Their business loans are designed to help businesses grow by providing them with the capital they need. You can avail of a maximum business loan of up to Rs. 50 Lakhs at a reasonable interest rate in the range of 12.75% to 44% per annum.
On IIFL bank official website
Updated: 29-05-2024 10:15:06 AM
Following are the key highlights of IIFL loan for business
| Business Loan Components | Details |
|---|---|
| Loan Amount | Up to Rs 50 lakhs |
| Loan Tenure | 1 – 3 years |
| Interest Rate | 12.75% – 44% p.a. |
| Processing Fee | 2% to 6% + GST* (Additional Upto ₹500 will be charged as Convenience Fees). |
| CIBIL Score | 700 & above |
| Age of Applicant | 23 – 65 years |
IIFL business loan interest rates are low and floating in nature. Following are the details of IIFL business loan rates of interest:
| Loan Amount | Rate of Interest |
|---|---|
| Business loan up to Rs. 50 Lakhs | 12.75% – 44% p.a. |
Here are the key eligibility criteria for an IIFL Finance business loan –
All business loan applicants are required to fulfil the IIFL business loan eligibility criteria mentioned above before submitting the relevant documents for business loan disbursement.
There is no generic documentation requirement list as such but the documents required for IIFL business loan depend on the magnitude of your business loan amount.
Following are the main charges involved in availing of an IIFL business finance:
| Particulars | Rates |
|---|---|
| Processing Fees | 2% – 9% + GST |
| Nach / E-mandate Bounce Charges | ₹ 500/ + GST (if applicable) |
| Penal / Default Charges | 24% p.a. +GST (if applicable) |
| Document Charges | Upto Rs.3000 + GST |
| Bank Swapping Charges | Rs.500 + GST (If applicable) |
| Prepayment/ Foreclosure Charges |
|
You can apply for IIFL Finance business loans online.
You can check your IIFL business loan application status with the following steps:
In case you have any query, complaint, suggestion or feedback regarding IIFL business loan, you can contact the IIFL business loan customer care number.
Get Kotak Mahindra Bank Business Loan up to Rs. 2 Crore online at interest rate starting from 16% p.a.
IIFL Business Loan offers various benefits such as quick disbursal, competitive interest rates, and flexible repayment options. It can help manage cash flow, build brand and reputation, and improve business credit.
The maximum amount of business loan in IIFL Finance can go up to Rs. 50 Lakhs.
Yes, part payment is allowed but its specifics may vary on a case-to-case basis.
Below are the basic eligibility to get an IIFL Finance MSME/ SME business loan:
Your business must have a turnover of Rs 90,000 in the past three months from the date of application.
The interest rate for IIFL business loans ranges from 12.75% to 44% p.a.
