Get Personal Loan in 2 Hours! Apply for Instant Personal Loan Apply NowX
Finance Buddha Home Page

Business Loan in Chennai - Apply Online @11.69%

stars based on reviews

Business Loan Details

Company Details

Turnover

Net Profit After Tax

Depreciation

Director/Partner Salary

(Not Applicable for Proprietorship Firm)

Personal Details

Rate of Interest is high ?
Rate of Interest is high ?

Try Applying for a higher Loan Amount as most bank reduce interest rates as loan amount increases

Not getting the desired Loan Amount?
Not getting the desired Loan Amount?

Try Adding the income of a co-applicant like a working spouse

Have multiple existing loans?
Have multiple existing loans?

Financebuddha can help you consolidate all your loans into one to increase your eligibility

Business Loan in Chennai Details

Business Loan in Chennai

There is no doubt that Chennai is a metropolitan city in India. The infrastructure and amenities are always an attraction for big MNCs and business magnets. With the expansion in population, there is lot of demand for all types of loans. Among these business loans has more demand, as there is lot of options for many big and small businesses in these locations. For a business loan in Chennai, you will have to either approach banks directly to get all necessary information or make use of the websites like Finance Buddha to make your life easier.

How Finance Buddha can help you get a Business Loan in Chennai?

It’s time to take the first step to try our platform; we guarantee that you will be happy with the range of information and assistance provided by us. Stop wondering about how to get a business loan in Chennai easily. Here you can simply upload your requirements and check if you’re meeting the eligibility to apply for a business loan with banks. Post which select the best bank that offers low interest rate loan and apply for the same. Bank officials will contact you within couple of days and will give instructions to take the request forward.

 

 

Business Loan Eligibility Criteria in Chennai

Unless the applicant meets the below eligibility criteria it is not possible to get a loan approved from any bank in Chennai. But, to a certain extent the bank branch manager can make decision:

  • Minimum business track record of 3 years with ITR and proof of business existence
  • Minimum turnover of Rs 25 lakh
  • Profit making entity with a minimum profit of Rs 1 lakh
  • Clear CIBIL report and track record
  • Bank account with any of the following banks

Business Loan Interest Rates, Fees & Charges in Chennai

Interest rates and charges vary from bank to bank. Here is the list of interest rates and charges for different banks of Chennai for business loan.

Business Loans Interest Rate Comparison of Top Banks / NBFCs in Chennai (updated 18 Aug,2019)

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 Loan Documents Required in Chennai

Below listed is the basic documentation necessary before applying for a business loan in Chennai.

Document

Professional

Businessman

Application form

Yes

Yes

1 Photograph of Co-Applicant

Yes

Yes

Income Details of Applicant

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

Bank Account Statements

For last 3 months

For last 3 months

KYC documents of Co-applicant

Yes

Yes

Business Proof

Certificate of Practice

MOA, AOA/ Partnership Deed/ Shop Act License

Identity Proof

  • Passport / Driving License / PAN card / Voters Id
  • You will also need latest color passport size photographs to complete the identification requirements.

Address Proof

Passport / Telephone Bill (Land / Mobile) / Electricity bill / Rental agreement / Driving license / Bank Statement With Address page / HR Letter - (Accept Only for SUPER CAT- A) / Election ID card / Postal Id card / BB BILL / Ration Card / Gas Bill With Agreement Book / Photo-credit card (with last two month statements) / Life Insurance Premium receipt / Proof of Office for Self Employed (any one) Lease deed / Utility bill / Municipal Tax receipt / title deed.

Age Proof

PAN Card / Passport / Driving License / School leaving certificate / Birth Certificate

Income Proof / Processing Documents

  • 2 years IT Including TDS amount Mentioned -TDS certificate (Form 16 )
  • 2 years Individual I T of Major Partner
  • 6 Months COMPANY'S Current Account Bank Statement
  • Loan Schedules
  • Business Continuity Proof
  • Partnership deed
  • Company Pan Card
  • Partner Pan Card
  • Partner's Own House Proof or Shop
  • KYC of All partners
  • MOA – Memorandum of Article
  • Turn Over Min 40 Lakh
  • Net Profit – Min 1.5 Lakh
  • Business Stability - 5 Years

Best Business Loans from Top Banks / NBFCs in Chennai

Business Loans Interest Rate Comparison of Top Banks / NBFCs in Chennai (updated 18 Aug,2019)

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 Loan Documents Required in Chennai

Below listed is the basic documentation necessary before applying for a business loan in Chennai.

Document

Professional

Businessman

Application form

Yes

Yes

1 Photograph of Co-Applicant

Yes

Yes

Income Details of Applicant

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

Bank Account Statements

For last 3 months

For last 3 months

KYC documents of Co-applicant

Yes

Yes

Business Proof

Certificate of Practice

MOA, AOA/ Partnership Deed/ Shop Act License

Identity Proof

  • Passport / Driving License / PAN card / Voters Id
  • You will also need latest color passport size photographs to complete the identification requirements.

Address Proof

Passport / Telephone Bill (Land / Mobile) / Electricity bill / Rental agreement / Driving license / Bank Statement With Address page / HR Letter - (Accept Only for SUPER CAT- A) / Election ID card / Postal Id card / BB BILL / Ration Card / Gas Bill With Agreement Book / Photo-credit card (with last two month statements) / Life Insurance Premium receipt / Proof of Office for Self Employed (any one) Lease deed / Utility bill / Municipal Tax receipt / title deed.

Age Proof

PAN Card / Passport / Driving License / School leaving certificate / Birth Certificate

Income Proof / Processing Documents

  • 2 years IT Including TDS amount Mentioned -TDS certificate (Form 16 )
  • 2 years Individual I T of Major Partner
  • 6 Months COMPANY'S Current Account Bank Statement
  • Loan Schedules
  • Business Continuity Proof
  • Partnership deed
  • Company Pan Card
  • Partner Pan Card
  • Partner's Own House Proof or Shop
  • KYC of All partners
  • MOA – Memorandum of Article
  • Turn Over Min 40 Lakh
  • Net Profit – Min 1.5 Lakh
  • Business Stability - 5 Years
Unable to Decide? Get in Touch with Us
query@financebuddha.com
+91

Learn How to Manage Your Money to Retire Wealthy!

Email Id *