Business Loan
Collateral-Free Loans
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Gone are the days when you had to worry over business-related cash crunches and monetary issues. Your business may show you ups and downs but then there are always solutions to the unfortunate days. Business loans help you pull your business out of burdens and avoid future losses.
Be it the immediate need for the installation of new machinery or the due payment of your suppliers, having the helping hand of a no-collateral loan can take care of all these issues. We understand the off days in business and so the need for business loans. This is the reason we offer you a non-collateral loan starting from INR 3 lakh and up to INR 10 lakh. The tenure for the same is 36 months. If you are looking for a small business loan, this could be your ideal deal.
Our dedicated team helps you do the paperwork in no time and with utmost authenticity, and transparency. You just decide the amount and reach out to us. To relax your burdens will then be our priority.
This loan is not limited to any one group of customers or professionals. Be it self- employed professionals or future business tycoons, the self-employed non- professionals, everyone can avail new business loans without any hassle. If you have a business vintage of minimum 4 years, you are all set to kickstart your business.
At Piramal Finance, we promise a loan procedure where you don't have to run around to understand the terms and conditions and go from one office to another to get it sanctioned. We offer online business loans where you are in your comfort zone and easily apply for business loan without having to wander here and there.
Our professional team of trained employees will take care of all the procedures by being available for you at your doorstep. So, plan, apply, and relax, we got your back!
Piramal Finance also allows you the maximum possible benefit under minimum formalities and simple eligibility. We give our best to make the process as simple as possible. We aim to make you fit for maximum business loan eligibility so you can avail the maximum loan you desire to get.
We not only pay heed to creating favourable loan deals for you but we also respect your time and comfort. This is the reason why we make sure none of our customers has to take the burden of reaching out at our premises. We also offer doorstep services so you can execute the process without taking a leave from your office or sparing your precious time at your home.
| Business Loan Eligibility | ||
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| We have carefully curated simple and easy-to-achieve business loan eligibility so you can fulfil the maximum of them for the best possible business financing. Here is a chart mentioning several criteria like age, employment type, etc. | ||
| AGE | EMPLOYMENT TYPE | |
| Self-Employed Professionals | Self-Employed Non- Professionals | |
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Minimum: 23 years Maximum: 65 years |
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| Apart from this, you must have 4 years of business vintage or a minimum of one registered property in your name. It could be your residential home or the office/shop where you are running your business. | ||
| Business Loan Interest Rate | |
|---|---|
| The business loan interest rate is quite simple to understand as well as to pay. So, you need not face an excessive interest rate burden while enjoying the benefit of the business loan. The chart below shows you the interest rate: | |
| Interest Rate | |
| Customer Type | Rates |
| Self-employed customers | Interest Rates starting from 17%* p.a |
| So, with interest rates starting at such affordable rates, you won’t have to think much before planning your next business loan. | |
| Business Loan Fees & Charges | |
|---|---|
| Business Loan Fees & Other Charges as applicable on application/ during the term of Loan are as under. These are subject to modifications from time to time as decided by Lender as per its internal policy and any such modification shall be notified by the Lender through its website or its branches or such other medium as Lender may consider appropriate | |
| Schedule of Fees & Other Charges | Details |
| Processing Fees | Processing Fees upto 4 % of Loan amount + applicable taxes (payable before disbursement of Loan) |
| Default Interest | 2% p.m. on default of PEMII/EMI from the date of default till the date of actual payment |
| Documentation Charges | NA |
| Prepayment charges | 5% of Principal amount being repaid + applicable taxes |
| Part Payment Charges | 5% of Principal amount being repaid + applicable taxes |
| Cheque Bounce Charges | ₹ 500/- + applicable taxes |
| Collection pickup charges | Rs. 250 per visit + applicable taxes |
| Any Legal cost/charges | At actuals + applicable taxes |
| Recovery related charges | At actuals + applicable taxes |
| Stamp duty charges | At actuals + applicable taxes |
| Statutory Charges | At actuals + applicable taxes |
| Loan Repayment Schedule (only applicable for physical copy of statement) | ₹ 500/- + applicable taxes |
| Change of Loan repayment mode | ₹ 500/- + applicable taxes |
| Duplicate No due Certificate issuance charges (only applicable for physical copy of statement) | ₹ 500/- + applicable taxes |
| Statement of Account (only applicable for physical copy of statement) | ₹ 500 + applicable taxes |
| Cash collection charges | 1% of collection amount of Rs.50000 and above in cash + applicable GST |
| Charges for Copy of any Document | ₹ 500/- + applicable taxes |
| Documents Required for Business Loan | ||||
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Be it SME loan (small and medium-sized enterprise business loans) or large-scale business loans, there are several mandatory documents that you need to have when planning to apply for business loans. The PAN Card is a mandatory requirement. It includes: |
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| APPLICATION FORM | PROOF OF IDENTITY | PROOF OF INCOME | PROOF OF RESIDENCE | CO-APPLICANT |
| The application form must contain a recent passport-size photo |
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| So now that you know how easy it is to avail of business loans and manage your business from Piramal Finance, start planning your next business loan and let us execute it immediately for better growth of your business. | ||||
A business loan can act as a blessing when your business is at an initial stage or even in its growth stage. The loan amount will help you cater to your short-term as well as long term capital needs. At Piramal Finance, we offer you loans to help you tide over any financial crunch.
At Piramal Finance, we offer business loans to professionals as well as non- professionals or self-employed individuals. These loans are quite flexible and also available at affordable rates.
You can repay the loan as per your choice, through Post Dated Cheque, Electronic Clearance Services or also through Direct Debt methods
To apply for a business loan, go to Quick Apply on our web portal. Fill in the given form and submit it. You will soon receive a call from our executive.
Avail Piramal Finance quality service and business loan instantly in the top commercial and metropolitan cities of India to meet the needs of your growing business.
We are in the business of financial planning but the day I finalised my property, I needed to get a loan and I found Piramal to be the best option. They cater to all the requirements of the customers and helped me at every single step along the way.
I have availed Loan From Piramal Finance for Business Expansion. I was attended with utmost professional attitude and perfection. PCHF very patiently answered all my queries and resolved all doubts. Once again, thanks a lot for serving my needs with such warmth.
I was very much delighted with the way the loan was disbursed. I would like to also thank for the quickest response by Piramal Finance executive. The loan was disbursed in a week’s time in a hassle free manner.
Appreciate the efforts of Piramal Finance for quick and smooth processing of my Loan Against Property. Piramal Finance team understood my requirements and explained the process, product details and required document list. Piramal Finance was helpful in every step and gave me quick loan sanction. Thank you PCHF.