InCred Business Loan


InCred Business Loan stands as a trusted ally, offering a unique and easily accessible pathway for entrepreneurs and businesses to realise their ambitions.

To help businesses overcome financial troubles, this page offers various information on InCred loans for your future venture. They offer collateral-free term loans that help MSMEs & small and medium-sized enterprises (SMEs) to grow their businesses. It offers a flexible repayment option of up to 36 months and a competitive interest rate.

InCred Business Loan Details

Applying for an InCred business loan can be confusing, however with the right information at your side getting a business loan can become easier.

The table below guides you through the important factors that are needed while looking for a InCred business loan-

Loan Amount ₹1 lakh to ₹10 Crore
Loan Tenure 12 to 36 months
Interest Rate 14.5% p.a. onwards
Processing Fee 2 to 5%
Note: The interest rates and charges mentioned are dynamic and can change.

InCred Business Loan Interest Rates

Interest rates can make a significant difference to EMI of a loan. Therefore, it is important to check your credit score & improve your chances sof getting a loan at low interest rates by improving your creditworthiness.

With the table below you can know the specifics of InCred's interest rate, and make well-informed decisions that align with your business's financial needs.

Interest Rate 14.5% p.a. onwards

InCred Business Loan Fees & Charges

Every loan comes with other fees & charges while taking a loan, these could affect how your loan is processed and the charges overall. The table gives a highlight of all the other charges levied by InCred Business loan:

Processing Fees 2% - 5%
Pre-closure Charges Borrowers may repay the entire outstanding balance, including any charges, by giving the lender at least 15 days' written notice.

InCred Business Loan Eligibility Criteria

Evaluating your eligibility for an InCred Business Loan is an important step in obtaining financial support. Learn the eligibility requirements of InCred business loans in detail and have a smooth loan process.
The table below shows the basic eligibility criteria required for an InCred business loan:

Citizenship Indian
Age of the borrower 21 - 55 years old
Credit score 600 above
Other Proof of ownership of the company

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Calculate EMI For InCred Business Loan

Calculating your Equated Monthly Instalment (EMI) while taking an InCred loan is more than just a step in your loan application process; it's a vital financial tool. EMI represents the regular payment you'll make towards repaying your InCred Business Loan.

To make your EMI calculation simpler use Business Loan EMI calculators to help you with financial clarity for your loan. Plan your business finances more effectively and ensure your EMI aligns with your budget.

%
Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Documents Required for InCred Business Loan

Securing a business loan comes with careful documentation. They act as your blueprint of your loan application and help you get loans faster. Documents are a clear pass to access business loans!
Let's delve into the key documents required to start your business's financial journey.

Identity proof Aadhaar card, PAN card
Age proof Birth certificate, Voter ID
Address proof Rental agreement, Utility bills
Salary proof Salary slips for the last 3 months, bank account statements for 6 months, Form 16.
Company Certificate of incorporation, PAN card of company
Note: The documents are dynamic and subject to change based on bank policies

Other Documents-

Audited financial statements of previous years and unaudited financial statements of the current year.

Income tax returns

Proof of ownership of the assets

Key contracts of the company/business.

Compare InCred Business Loans Over Other NBFCs

In the world of business financing, making the right choice can significantly impact your enterprise.

Compare InCred Business Loans to other Non-Banking Financial Companies (NBFCs). By making informed comparisons, you can identify the best financial partner for your business. It's your roadmap to ensuring you receive the support your enterprise deserves.

Top Business Loan NBFCs Interest Rate (p.a.)
InCred 12% onwards
Bajaj Finserv 9.75% onwards
Flexiloans 12% onwards
HDB Financial Services Ltd. Up to 36%
Indifi 18% onwards

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Note: The interest rates mentioned above are subject to change at the lenders' discretion.

Features & Benefits of InCred Business Loan

Enjoy the advantages of InCred Business Loan, designed to empower businesses. From efficiency to customised solutions, it's your gateway to business growth. Here are some features and benefits-

Personalised Products

Enjoy products tailored
for your needs

Higher Loan Limits

Enjoy loans ranging from
Rs 1 lakh to Rs 10 crore

Flexibility

Enjoy flexible repayment
options

Competitive Interest
Rates

Enjoy interest rates starting
from 14.5% p.a.

Simple & Easy

Hassle free loans and
minimal documentation

Zero Colleteral

No collateral required for
personal loans.

Steps to Apply for InCred Business Loans with Buddy Loans

Getting the financial support your business needs should be hassle-free. The steps below break down the process of applying for InCred Business Loans with Buddy Loans in a way that's easy to follow:

Step 1 - Visit buddyloan.com or Download & install Buddy Loan app.

Step 2 - Fill out the application form, including the loan amount, the tenure in months, and contact details.

Step 3 - Fill out the following personal details as required:

Step 4 - Submit the details & wait for the loan confirmation.

Ready to take next step ?

Frequently Asked Questions

InCred is a non-banking financial company (NBFC) that offers SME business loans. The loan sizes ranges from Rs 1 lakh to Rs 10 crore.

InCred business loans work by providing businesses with the capital they need to grow and expand, with flexible repayment options and no collateral required.

The eligibility criteria for InCred business loans vary depending on the type of loan you are applying for. However, some general eligibility criteria include: The business must be registered in India, must be at least 6 months old, have a good credit score, a healthy turnover, and a positive cash flow.

InCred offers business loans to all small and medium enterprises for their expansion and capital requirements.

InCred loan offers you a loan range from Rs 1 lakh to Rs 10 crore.

The interest rate for InCred business loans ranges from 20% to 36% p.a. InCred offers both fixed and variable interest rates for its business loans.

InCred business loan offers a tenure of up to 36 months.

No, InCred offers collateral-free loans for your business.

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