Features and benefits

  • Easy repayment options

    Easy repayment options

    This loan gives you the option to pick a comfortable tenor that ranges up to 96 months.

  • Flexi facility

    Flexi facility

    For added financial flexibility, you can opt for the Flexi loan facility. This allows you to reduce EMI outgo by up to 45%*.

  • Personalised loan deal

    Personalised loan deal

    To expedite loan processing and avail of special terms, check for a pre-approved loan offer by sharing basic details.

  • Online loan management

    Online loan management

    Access key loan information such as loan statements and manage your EMIs digitally with the online customer portal.

Unsecured business loans have an attractive advantage over secured loans in that you do not have to provide collateral to avail of them. This means that taking an unsecured loan in India for business expenses helps safeguard your assets. In addition to this benefit, an unsecured business loan comes loaded with several attractive features.

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Eligibility criteria and documents required

  • Age

    Age

    18 to 80*
    (* Age should be 80 at the time of Loan Maturity)

  • CIBIL score

    CIBIL score

    685 or higher

  • Work status

    Work status

    Self-employed

  • Nationality

    Nationality

    Indian

  • Business vintage

    Business vintage

    At least 3 years

You will need the following documents to apply

  • KYC documents
  • Proof of business ownership
  • Bank statements of the previous months
  • Other financial documents

Interest rate and charges

We ensure 100% transparency with all fees and charges applicable to our loans. Refer to the following table for the interest rate and a breakup of a few fees you may have to pay.

Type of fee Applicable charges
Rate of interest 14% - 30% per annum
Processing fees Up to 3.54% of the loan amount (inclusive of applicable taxes)
Bounce charge In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.
Document processing charges Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee

Term Loan - Not applicable
Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)
Flexi Variant (as applicable below) - A fee will be deducted upfront from the loan amount

  • Up to Rs. 5,999/- (inclusive of applicable taxes) for loan amount less than Rs. 10,00,000/-
  • Up to Rs. 7,999/- (inclusive of applicable taxes) for loan amount from Rs. 10,00,000/- to Rs. 14,99,999/-
  • Up to Rs. 12,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-
  • Up to Rs. 15,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above

*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
Penal interest Delay in payment of Monthly instalment shall attract penal interest at the rate of 3.50% per month on the Monthly Instalment outstanding, from the respective due date until the date of receipt of Monthly Instalment.
Pre-payment charges

Full Pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
Stamp duty Payable as per state laws and deducted upfront from the loan amount.
Mandate rejection charges Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
Broken Period Interest/ Pre-EMI Interest

Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:

  • For Term Loan: Deducted from the loan disbursement
  • For Flexi Term Loan: Added to the first instalment
  • For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Annual maintenance charges

Term Loan – Not Applicable

Flexi Term Loan (Flexi Dropline): Up to 0.413% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.
Switch Fees* Up to 1.18% of the loan amount (inclusive of applicable taxes)


*Switch Fee is applicable only in case of switch of loan. In switch cases, Processing Fees and Documentation Charges will not be applicable.

How to apply

  1. 1 Click on ‘APPLY ONLINE’ to open the online application form
  2. 2 Enter your basic information and input the OTP sent to your mobile number
  3. 3 Fill in your personal and business information
  4. 4 Upload the bank statement for the last 6 months and submit your application

Our representative will call you once you’ve applied for loan processing assistance.

*Conditions Apply

**Document list is indicative

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