IndiaLends is a dynamic lending platform that offers business loans for organisations especially small and medium sized businesses. With an IndiaLends business loan, you can fund any business requirement, investment or new projects.
IndiaLends loan offers a customisable amount at flexible repayment tenures helping you achieve your business goals. Getting funds for your business venture is now convenient with an IndiaLends business loan through Buddy Loans loan service provider.
IndiaLends Business Loan Details
IndiaLends offers business loans with the best loan terms for entrepreneurs. Now with flexible loan amounts and attractive interest rates, you can address any immediate financial needs.
Below is a general overview of what IndiaLends business loan has to offer:
| Loan Amount | Up to ₹1 Crore |
| Loan Tenure | 12 months to 60 months |
| Interest Rates | 10.25% to 29.99% per annum |
| Processing Fee | 1% – 2% |
*Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.
IndiaLends Business Loan Interest Rates
The interest rate you can get for an Indialends business loan is determined by various factors such as your credit history, repayment capacity and credit score. The IndiaLends interest rate is as follows:
| Interest Rate | 10.25% to 29.99% p.a. |
*Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.
IndiaLends Business Loan Fees & Charges
Certain fees and charges accompany business loans, these fees will differ from one lender to the other. The following are the fees and charges for business loans set by IndiaLends:
| Processing Fee | 1% – 2% |
| Prepayment Charges | 2% – 3% |
| Late Payment Fee | 2% |
| Documentation Fee | ₹500 |
Note: The figures mentioned above are approximate and subject to change based on the lende
IndiaLends Business Loan Eligibility Criteria
The factors that determine your eligibility for a business loan are set by lenders. These factors can differ from one lender to another.
Here are the eligibility criteria set by IndiaLends for a business loan:
| Eligible Businesses | Self Proprietorship, partnership firms, public or private limited companies and businesses providing service and trade. |
| Age of Business | 6 months to 3 years |
| Minimum Turnover | Annual or monthly turnover must meet the required limit. |
| Profitability | The business must get profit above the minimum requirement |
| Age of applicant | 21 years above |
| Credit score | 650 above |
Documents Required for IndiaLends Business Loan
IndiaLends requires a set of documents to verify your eligibility for the loan and to ensure the authenticity of the business. Some of the important documents required are:
Address Proof:
- passport, Aadhaar, Driving Licence, Voter’s ID or Utility Bills.
Financial Documents:
- 3 – 6 Months Bank Statements,
- 2 – 3 years of Income Tax Returns,
- Computation of Income Statement,
- Audited Balance Sheet and Profit and Loss Account
- Other Financial Statements.
Proof of Business Continuation:
trade Licence, GST Registration Certificate, Income Tax Returns, and Establishment Certificate.
Other Business Documents:
declaration of sole proprietorship and Certified True Copy of the Partnership Deed.
Calculate EMI For IndiaLends Business Loan
Calculating the EMI for your business loan will help you understand which loan terms are feasible and convenient for repayment. The repayment for the IndiaLends loan will be divided into equal monthly instalments over a period. You can find out the EMI amount for your loan by using the online business loan EMI calculator, which is a user-friendly tool. Simply input the correct information such as the loan amount, interest rate and tenure.
Another method to know your EMI is by manually calculating with the formula
EMI=P * r * (1 + r)n(1 + r)n-1
Here,
- ‘P’ is the principal amount,
- ‘r’ is the interest rate and
- ‘n’ is the tenure.
Get Business Loan Online Up to ₹ 2 Crore
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Compare IndiaLends Business Loans Over Other NBFCs
Before choosing to take a business loan from any lender, it is important to compare and consider other lenders’ interest rates and loan terms. This will help you ensure that you get the best terms that suit your requirements.
Here is a list of other NBFCs that are offering business loans along with their interest rates:
| Top Business Loan NBFCs | Interest Rate (p.a.) |
|---|---|
| IndiaLends | 10.25% p.a. onwards |
| Bajaj Finserv | 9.75% p.a. onwards |
| Tata Capital | 12.00% p.a. onwards |
| Aditya Birla Finance Limited | 14.00% p.a. onwards |
| KreditBee | 15.00% p.a. onwards |
| Paisabazaar | 16.00% p.a. onwards |
| Paysense | 18.00% p.a. onwards |
| Mcapital | 24.00%p.a. onwards |
*Note: The interest rates are dynamic and subject to change based on your credit history and credit worthiness.
Features & Benefits of IndiaLends Business Loan
IndiaLends business loans offer various features and benefits that make it an excellent choice for your financial support. Let’s take a look at some of the best ones:
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Steps to Apply for Business Loans
Applying for IndiaLends business loans has become very easy and convenient with the help of Buddy Loan. All you need to do is follow these simple steps and get the financial support that your business needs:
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:
- Email Address
- Employment Type : Salaried/ Self-Employed
- Company Type
- Industry Type
- Current Company Name
- Company Address
- Year of Employment
- Net Income
- Mode of Salary
- PAN Card Details
- Full Name (As Per Pan Card)
- Current Address with PIN Code
- Mobile Number
Step 4 – Submit the details & wait for the loan confirmation.
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