Urban Money

INDIFI Business Loan

INDIFI
4.5

Small firms and entrepreneurs can use business loans to aid them with their cash needs. There are numerous financial institutions across the nation that offer specialised business loans with low interest rates to meet your demands. Where Indifi offers Business loans with flexible terms and rates starting at 24 % p.a. for amounts up to Rs. 1 Crore.

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Urban Money

Business Loan Banks

Interest Rate

Processing Fee

Loan Amount/Tenure

INDIFI Business Loan Interest Rate

15% - 24%

2% - 3%

₹50K - ₹1Cr

Tenure(Up to 3 Years)

Details

Features & Benefits of INDIFI Business loan

INDIFI bank offers unsecured business loans. What this essentially means is that you will not need any collateral, guarantors or security to avail these loans. Here are some major features of getting a business loan from INDIFI that makes the whole deal a lot better for you. 

  • You can take into consideration your repayment capacity and decide on a flexible loan tenure. 
  • Business loans from this bank are very quick to get and hassle-free. 
  • You can take a maximum loan of Rs. 50 Lacs, as per your repayment capacity and requirements. 
  • INDIFI offers a very competitive interest rate when compared to the others in the market. 
  • There are no hidden charges and all fees are shown at the time of loan processing. 
  • You will only need a few important documents to avail of the loan. 
  • There are several lenders who tend to your loan applications, in turn, increasing your chances of getting approved.

INDIFI Business Loan Overview

Starting a business includes quite a few intricacies, one of the most common and important one being business loans. It is very necessary that you have the right amount of capital to extend and help your company flourish. However, before you start making money from your business, it is not a good idea to invest with your money. You should always arrange for funds from other financial institutions like INDIFI. INDIFI is one of the leading names in this industry and for good reason. They will help you avail of a business loan at very low interest rates and also many other benefits, that you might not get from other banks. They are also partners with some of the biggest companies in the Indian market like Swiggy, Zomato and Flipkart. 

However, if you cannot figure if the loan is for you, there are some easy questions you can ask yourself. Start with if your business needs financial capital to grow. If yes, INDIFI is the best place to be at. They have curated simple and easy ways to get your loan, which is something you might not find from any other brand. In addition to that, they acquire several money lenders. This makes it easier for you to tget the loan for higher amounts. These deals are also very flexible and you can customize them according to your requirements.

Eligibility Criteria and Factors Affecting INDIFI Business loan Eligibility

INDIFI business loan eligibility is one of the simplest and quickest in all of the industry. Before you apply for the business loan, you have tp ensure that you are 

  • 23 years old or above that. 
  • You business is more than a year old and running properly.

INDIFI Business Loan Interest Rates

If you are planning to get a business loan, there is no financial institution better than INDIFI. They offer easy repayment schemes along with a low interest rate. Here mentioned are INDIFI business loan interest rate and processing fee. 

  • There are two ways you can pay the interest in INDIFI. You can either pay Rs. 50 every day on every 1 lac rupees or 1.5% every month. This rate is always calculated on the reducing balance. The interest rates can vary from 15% to 24%. 
  • You will also have to pay a onetime processing fee of up to 2% on the money loaned. 

Factors Affecting INDIFI Business loan Interest Rates

The interest rate of a back can differ depending on quite a few factors. Once you apply for a business loan, INDIFI will tally these points to calculate the interest rate of your loan. 

  • The nature of your business:

This is the most important factor that affects your business loan. What kind of business you are building will further denote the interest you have to pay on your loan. You should make sure that your business is positive and does not get blacklisted. Lenders often check the nature of your business along with its profits or losses before finalising the loan rate. 

  • CIBIL Score:

This is another factor that plays an important role in deciding your interest rate. This is essentially a three digit number that shows you ability to pay the loan back. The range usually starts from 300 t 900 and INDIFA considers a score of 750 or healthier. It is not unknown that a higher CIBIL score will always mean that the lenders find you a good fit for their loaning schemes. With a high CIBIL score lenders will offer you loans at low interest rates, and vice versa. 

  • Annual Turnover:

Your company’s annual turnover is another thing lenders like INDIFA check. If your company has a high and suitable annual turnover, you are likely to get a lesser interest rate on the money lent. Otherwise, both the EMI and interest rate will be higher if the turnover is poor.

Documents Required for INDIFI Business loan

You need to gather some documents before you can get your loan from INDIFI. These are some of the documents required for INDIFI business loan

  • Pan Card
  • Address proof of both self and firm
  • Aadhaar Card
  • Business registration proof
  • Bank Statement last 6 months.
  • In case of loan more than 15 lacs, latest ITR

Financial Documents:

  • Business Address Proof
  • Business Registration Proof
  • Latest 2 year Income Tax Return
  • Business Continuity Proof
  • Balance Sheet
  • Profit & Loss Account
  • Computation of Income
  • Bank Statement of latest 6 months
  • Certificate of Incorporation (COI)
  • Memorandum and Article of Association

INDIFI Business Loan Customer Care Number

To get your hands on INDIFI business loan online application, you can simply log in to their online portal. It is quite user friendly and intuitive and you will not have a problem getting the information you require. The website is called https://www.indifi.com/. If you however, have any other queries of want to talk to an executive directly, you can try their helpline number or mail.

  • Phone Number: 7827122122
  • Email ID: easyloan@indifi.com  alliance@indifi.com
 

FAQs

From refinancing to reducing your interest, we have the answers right here.

How can I speed up my loan approval?

While there are many ways you can speed up your loan approval process, most of them take some time. You will have to build a stronger company reputation, which might not be possible without the funding. The best way to quicken the process is to look for a financial institution that has many different lenders like INDIFI. This means you can reach out to more people, and get your approval quicker. 

What is loan foreclosure?

Loan foreclosure is a term you will come across quite a few times in this industry, especially if you are taking a business loan. This essentially means that the full amount of the loan has been repaid in a single payment instead of doing monthly instalments. 

How much EMI do I have to pay for a Business Loan?

How much and how many monthly payments you will make for your loan mainly depends on your repayment capabilities and the amount of money loaned. However, there is a simple formula you can use to calculate the monthly amounts. E = P x r x (1+r)n / (1+r) n-1, where E is the EMI amount, P is the principal amount, r is the rate of interest and n is the period for borrow. 

What is the minimum turnover requirement for a Business Loan?

Your business should have a minimum turnover of at least 40 lakhs. In addition to that , you will have to be in the business for at least 3 years, with an overall business experience of 5 years. Your business should be at a profit the last 2 years before the loan. 

Who Can Take a Business Loan?

As a matter of fact, there is no such limit to who can avail of a business loan from INDIFI. Once you meet the eligibility criteria, all you have to ensure is that you have repayment capabilities. In addition to that, your business should not be blacklisted.

Does INDIFI Provide business loan at the best rate?

INDIFI provides you with a business loan at very competitive rates in the market. When compared to some other big name brands, INDIFI is surely one such bank you will benefit from. However, it is not the lowest rates of interest in the community.

What are the documents required in INDIFI for a business loan?

When it comes to documents, INDIFI business loan requirements are as follows:

  • Pan Card
  • Address proof of both self and firm
  • Aadhaar Card
  • Business registration proof
  • Bank Statement last 6 months.
  • In case of loan more than 15 lacs, latest ITR

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