Try Applying for a higher Loan Amount as most bank reduce interest rates as loan amount increases
Try Adding the income of a co-applicant like a working spouse
Financebuddha can help you consolidate all your loans into one to increase your eligibility
Bangalore is not just a town of IT hub but also is a center for lot of business or commercial activities. This busy city is considered as a safe place in India for women and kids. Thus many would like to settle in Bangalore by either working in an IT company or starting some business on their own. Though there is lots of transformation seen in the city, there is no doubt that it is growing for the better.
Finance Buddha is a free platform where in every person can check all details related to business loan in Bangalore. These information can be made use to ascertain whether you are eligible for a business loan or not and can accordingly apply to the bank through this website. If you are looking for easy ways to get the loan approved, then the smart route is Finance Buddha.
Though every bank has specific eligibility criteria, the below listed is the basic eligibility criteria applicable to all banks.
If you are looking to take a business loan in Bangalore, then it is time to compare the interest rates and other charges as early possible.
Business Loans Interest Rate Comparison of Top Banks / NBFCs in Bangalore (updated 09 Jun,2023)
Bank/NBFC | Institution Type | Minimum Loan Amount | Maximum Loan Amount | Minimum Tenure | Maximum Tenure | Interest Rates | Fees & Charges |
Axis Bank | Bank | ₹50,000 | ₹50,00,000 | 1 Year | 15 Years | Custom | Up to 2% + GST as applicable |
Aditya Birla Finance Ltd. | NBFC | ₹50,000 | ₹15,00,000 | 1 Year | 3 Years | 16.85% - 17.85% | Up to 2% + GST as applicable |
Arohan Financial Services Ltd. | NBFC | ₹5,00,000 | ₹75,00,000 | 9 Months | 2 Years | 20.70% - 26.99% | 1% + GST as applicable |
Bajaj Finserv | NBFC | ₹1,00,000 | ₹30,00,000 | 1 Month | 8 Years | 18% - 40% | Up to 3% + GST as applicable |
Capital First | NBFC | ₹10,00,000 | ₹75,00,000 | 1 Year | 5 Years | 16.00% - 24.00% | Up to 2% + GST as applicable |
Clix Capital Services Pvt. Ltd. | NBFC | ₹10,00,000 | ₹50,00,000 | 1 Year | 3 Years | 12% - 15% | Up to 2% + GST as applicable |
Deutsche Bank | Bank | ₹10,00,000 | ₹50,00,000 | 2 Year | 4 Years | 24% | Up to 3% + GST as applicable |
Edelweiss Financial Services Ltd. | NBFC | ₹3,50,000 | ₹25,00,00,000 | 4 Years | 10 Years | 20.50% | 2% - 3.5% + GST as applicable |
Equitas Small Finance Bank | Bank | ₹5,00,000 | ₹75,00,000 | 1 Year | 5 Years | 18% | 2% + GST as applicable |
Fortune Financial Services - Kapital Tech | NBFC | ₹2,00,000 | ₹150,00,000 | 3 Months | 2 Years | 15% - 24% | 1.5% - 2% + GST as applicable |
Fullerton | NBFC | ₹10,00,000 | ₹50,00,000 | 1 Year | 4 Years | 13% - 16% | Up to 6.5% + GST as applicable |
HDB Financial Services Ltd. | Bank | ₹1,00,000 | ₹30,00,000 | 1 Year | 5 Years | 12% - 36% | 2% + GST as applicable |
HDFC Bank | Bank | ₹50,000 | ₹50,00,000 | 1 Year | 4 Years | 15.65% to 21.20% | Up to 2.50% + GST as applicable |
ICICI Bank | Bank | ₹1,00,000 | ₹10,00,00,000 | 1 Year | 5 Years | 12.9% - 16.65% | Up to 2% + GST as applicable |
IDFC Bank | Bank | ₹1,00,000 | ₹40,00,000 | 1 Year | 5 Years | 11.69% - 15% | 1.5% + GST as applicable |
India Infoline | NBFC | ₹1,00,000 | ₹50,00,000 | 1 Year | 5 Years | 18% - 25% | Upto 3% + GST as applicable |
IndusInd Bank | Bank | ₹1,00,000 | ₹15,00,000 | 1 Year | 5 Years | 10.6% -18% | 0.5% + GST as applicable |
Kotak Mahindra Bank | Bank | ₹3,00,000 | ₹2,00,00,000 | 1 Year | 3 Years | 16.00 % to 19.99% | Up to 3% + GST as applicable |
Lendingkart Finance Ltd. | NBFC | ₹50,000 | ₹100,00,000 | 1 Month | 1 Year | 18% - 27%* | 2% + GST as applicable |
Magma FinCorp Ltd. | NBFC | ₹3,00,000 | ₹2,00,00,000 | 1 Year | 4 Years | 17% - 21% | 2% + GST as applicable |
Neo Growth | NBFC | ₹2,00,000 | ₹75,00,000 | 6 Months | 2 Years | 12% - 36% | 2% + GST as applicable |
RBL Bank Ltd. | Bank | ₹10,00,000 | ₹35,00,000 | 1 Year | 3 Years | 16.00% - 27.00% | 2% + GST as applicable |
Standard Chartered Bank | Bank | ₹10,00,000 | ₹75,00,000 | 1 Year | 5 Years | 13.5% - 20% | Up to 2% + GST as applicable |
Tribe Tech Private Limited | NBFC | ₹1,00,000 | ₹20,00,000 | 1 Year | 3 Years | 12% - 36% | 2% + GST as applicable |
Yes Bank | Bank | ₹20,00,000 | ₹400,00,000 | 1 Year | 5 Years | 13.25% - 19.99% | Up to 2.5% + GST as applicable |
Business Loans Interest Rate Comparison of Top Banks / NBFCs in Bangalore (updated 09 Jun,2023)
Bank/NBFC | Institution Type | Minimum Loan Amount | Maximum Loan Amount | Minimum Tenure | Maximum Tenure | Interest Rates | Fees & Charges |
Axis Bank | Bank | ₹50,000 | ₹50,00,000 | 1 Year | 15 Years | Custom | Up to 2% + GST as applicable |
Aditya Birla Finance Ltd. | NBFC | ₹50,000 | ₹15,00,000 | 1 Year | 3 Years | 16.85% - 17.85% | Up to 2% + GST as applicable |
Arohan Financial Services Ltd. | NBFC | ₹5,00,000 | ₹75,00,000 | 9 Months | 2 Years | 20.70% - 26.99% | 1% + GST as applicable |
Bajaj Finserv | NBFC | ₹1,00,000 | ₹30,00,000 | 1 Month | 8 Years | 18% - 40% | Up to 3% + GST as applicable |
Capital First | NBFC | ₹10,00,000 | ₹75,00,000 | 1 Year | 5 Years | 16.00% - 24.00% | Up to 2% + GST as applicable |
Clix Capital Services Pvt. Ltd. | NBFC | ₹10,00,000 | ₹50,00,000 | 1 Year | 3 Years | 12% - 15% | Up to 2% + GST as applicable |
Deutsche Bank | Bank | ₹10,00,000 | ₹50,00,000 | 2 Year | 4 Years | 24% | Up to 3% + GST as applicable |
Edelweiss Financial Services Ltd. | NBFC | ₹3,50,000 | ₹25,00,00,000 | 4 Years | 10 Years | 20.50% | 2% - 3.5% + GST as applicable |
Equitas Small Finance Bank | Bank | ₹5,00,000 | ₹75,00,000 | 1 Year | 5 Years | 18% | 2% + GST as applicable |
Fortune Financial Services - Kapital Tech | NBFC | ₹2,00,000 | ₹150,00,000 | 3 Months | 2 Years | 15% - 24% | 1.5% - 2% + GST as applicable |
Fullerton | NBFC | ₹10,00,000 | ₹50,00,000 | 1 Year | 4 Years | 13% - 16% | Up to 6.5% + GST as applicable |
HDB Financial Services Ltd. | Bank | ₹1,00,000 | ₹30,00,000 | 1 Year | 5 Years | 12% - 36% | 2% + GST as applicable |
HDFC Bank | Bank | ₹50,000 | ₹50,00,000 | 1 Year | 4 Years | 15.65% to 21.20% | Up to 2.50% + GST as applicable |
ICICI Bank | Bank | ₹1,00,000 | ₹10,00,00,000 | 1 Year | 5 Years | 12.9% - 16.65% | Up to 2% + GST as applicable |
IDFC Bank | Bank | ₹1,00,000 | ₹40,00,000 | 1 Year | 5 Years | 11.69% - 15% | 1.5% + GST as applicable |
India Infoline | NBFC | ₹1,00,000 | ₹50,00,000 | 1 Year | 5 Years | 18% - 25% | Upto 3% + GST as applicable |
IndusInd Bank | Bank | ₹1,00,000 | ₹15,00,000 | 1 Year | 5 Years | 10.6% -18% | 0.5% + GST as applicable |
Kotak Mahindra Bank | Bank | ₹3,00,000 | ₹2,00,00,000 | 1 Year | 3 Years | 16.00 % to 19.99% | Up to 3% + GST as applicable |
Lendingkart Finance Ltd. | NBFC | ₹50,000 | ₹100,00,000 | 1 Month | 1 Year | 18% - 27%* | 2% + GST as applicable |
Magma FinCorp Ltd. | NBFC | ₹3,00,000 | ₹2,00,00,000 | 1 Year | 4 Years | 17% - 21% | 2% + GST as applicable |
Neo Growth | NBFC | ₹2,00,000 | ₹75,00,000 | 6 Months | 2 Years | 12% - 36% | 2% + GST as applicable |
RBL Bank Ltd. | Bank | ₹10,00,000 | ₹35,00,000 | 1 Year | 3 Years | 16.00% - 27.00% | 2% + GST as applicable |
Standard Chartered Bank | Bank | ₹10,00,000 | ₹75,00,000 | 1 Year | 5 Years | 13.5% - 20% | Up to 2% + GST as applicable |
Tribe Tech Private Limited | NBFC | ₹1,00,000 | ₹20,00,000 | 1 Year | 3 Years | 12% - 36% | 2% + GST as applicable |
Yes Bank | Bank | ₹20,00,000 | ₹400,00,000 | 1 Year | 5 Years | 13.25% - 19.99% | Up to 2.5% + GST as applicable |
Apart from bank specific documents, some of the very commonly requested documents for business loan approval in Bangalore are:
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