Urban Money

Ujjivan Small Finance Bank Business Loan

Ujjivan Small Finance Bank
4.5

If you are into business then you would know that business needs funds over time to maintain the consistency of the cash flow. Substantial working capital is must to make sure that the business activities and profitability go smoothly. Even if you are about to buy new equipment, hiring and training the staff, expanding the premises or procuring new inventory, business loan is a desirable financing for all these ventures. Ujjivan Small Finance bank can provide business loans if any businessman applies to get.

  • Ujjivan Small Finance Bank
  • Business Loan
Loan Amount:₹10L - ₹25L
Interest Rate:12% - 19%
Processing Fee: Up to 2.5%
Tenure:10 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Ujjivan Small Finance Bank

12% - 19%

Up to 2.5%

₹10L - ₹25L

Tenure(3 - 10 Years)

Details

Features and Benefits of Ujjivan Small Finance Bank Business Loan

There are numerous reasons why a person opts for business loans. Business loan has its own benefits. For example,

While you are thinking of expanding your business, Ujjivan Small Finance bank Business loan will manage the working capital, meet the Capital expenditure. If you are renovating offices or the workplace the amount from the loan should do the work. Again if you are about to purchase a car or any commercial vehicle for the business loan will help meeting the expenditure without any hassle.

Now, coming to the features of the Ujjivan Finance bank Business loan; these are:

  • Fast approval for the loan without any problem 
  • business loan for INR 2 crores 
  • You can get best service while applying for the Ujjivan Finance bank business loan.
  • The interest rate is between 14% to 16% 
  • Minimal time for the repayment is only twelve months.

Ujjivan Small Finance Bank Business Loan Overview

If you are into business then you would know that business needs funds over time to maintain the consistency of the cash flow. Substantial working capital is must to make sure that the business activities and profitability go smoothly. Even if you are about to buy new equipment, hiring and training the staff, expanding the premises or procuring new inventory, business loan is a desirable financing for all these ventures. Ujjivan Small Finance bank can provide business loans if any businessman applies to get.

Eligibility Criteria for the Ujjivan Small Finance Bank Business Loan

To get a business loan the borrower must be eligible. Ujjivan Small Finance bank business loan eligibility Criteria is like this

  • At least INR 16, 00,000 of turnover is important for a business
  • The turnover is INR 30, 00,000 and above is vital for a trading business.
  • Service provider's business must generate at least INR 14, 00,000 turnover every year.

Ujjivan Small Finance Bank Business Loan Fees and Charges

Apart from the interest rates Ujjivan Finance bank has come up with other charges as well. Therefore, before rushing towards the business loan you need to see other charges related to it 

  • Documentation fee up to INR 10,000+tax
  • Processing charges up to 2.7%+tax
  • CERSAI charges 53+tax up to INR 5 lacks of the loan amount
  • CERSAI charges 99+tax while the loan amount is more than 6 lakhs

Ujjivan Small Finance bank Business Loan Rates of Interest

A Business loan gives leverage while managing the financial side of the business. And looking for the best loan at a meagre rate of interest is quite impossible task. However, if people want to apply for Ujjivan Finance bank Business loan he can choose the best of the offers. Here Ujjivan Small Finance bank Business Loan rate of interest are mentioned below

LAP 17.01% -18.99% p.a  3 lacs to 10 lacs Thirty-six to eighty-four Months
Business Loan (Secured) 17.1% -18.99% p.a  10 Lacs to 26 Lacs Thirty-six to one-hundred twenty Months
Secured Enterprise Loan 13.99% -17.01% p.a  10 lacs to 51 Lacs Thirty-six to one-hundred twenty Months
Business Edge Term Loan 13.01%-14.99% p.a  26 Lacs to 3 Crores Thirty-six to one-hundred twenty Months

Factors affecting Ujjivan Small Finance Bank Business Loan Interest Rates

Business loan interest rate is a crucial part that every borrower consider while opting for a loan. Interest rates largely hit the loan terms so picking the right loan becomes very important. Thus choosing a rate and getting a vivid picture are very important. These are some business loan deciding factors mentioned below.

Credit score: It is the primary tool that a lender considers before deciding the eligibility of a borrower for a loan. That is why the higher the credit score leads to the lesser interest rates

Type of Business: Sometimes your business choice can be a key factor that affects the interest rate of your business loan. The reason is some business carry higher risk compared to others so the type of business can be a factor affecting the interest rates.

Age of business: A well-established business is more likely to secure lesser interest rates. Many lenders in India prefer offering credit to small businesses which gained the time tested experience in the field these businesses are the bird's-eye for the banks. 

Collaterals: this feature refers to the monetary value holding asset for the business owner. However, not all the borrowers are capable to offer collaterals and thus affecting the interest rates.

Documents Required for Ujjivan Finance Bank Business Loan

Documents are very crucial while one is taking loan for his/her business. Here is the list of documents required for Ujjivan Finance bank business loan.

  • Pan card 
  • Voter ID card, Driving Licence, Passport or Aadhar Card for identification.
  • Three years old statement of the bank transaction
  • Photo of the applicants 

Fill the Ujjivan Small Finance bank business loan online application.

How EMI Calculation works for Ujjivan Small Finance Bank Business Loan?

Loan Amount           ROI Loan Tenure       EMI
Rs. 74,000 15.62% 15 Months Rs. 5462
Rs. 3,50,000 15.75% 20 Months Rs. 20011
Rs. 4,87, 000 15.75% 22 Months Rs. 25176
Rs. 6,79,000 15.87% 28 Months Rs. 29176
Rs. 8,99, 000 16% 34 Months Rs. 33058

How Ujjivan Small Finance Bank Compares with others Lenders?

Bank Ujjivan Small Finance bank HDFC SBI
Interest Rate 15.75%-16% 11.90% -16.30% 11.20% - 16.30%
Loan Amount 2.00% 499/- 2.00% - 3.00%
Loan Tenure 1 Lakh – 9 Lakh 50,000- 50 Lakh 5 Lakh – 100 Crores
Lowest EMI Per Lakh 2990/- 2628/- 2594/-
Part Payment Charges Not Allowed Not Allowed Allowed after 1 months at 3%
Eligible age 25-65 years 21-65 years 21-65 years

Ujjivan Small Finance Bank Business Loan Customer Care Number

If you have any doubts regarding the business loan you can contact the customer care executives on 1800 208 2121 or email in [email protected]

FAQs

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

What is the loan amount that i can avail from Ujjivan Small Finance bank business loan?

The minimum loan amount can be up to Rs. 10 lakh and maximum 2 Crores.

What is the repayment tenure of the Ujjivan Small Finance bank business loan?

 The maximum time period is 120 months

Can I prepay my loan anytime during loan tenure?

Yes, you can prepay the loan. But there will be a minimum amount of penalty of 5% on the outstanding loan amount.

What are the modes of loan disbursements offered by Ujjivan Small Finance bank business loan?

Two major modes of loan disbursements are NEFT & RTGS.

What is the processing fee charged by Ujjivan Small Finance bank business loan?

The processing fee charged by Ujjivan Small Finance bank for their business loan is up to 2.50% of the loan amount + GST.

How Can I get business loan from Ujjivan Small Finance bank?

You can visit the bank and ask the executives about the loan or visit the official website to know more about the business loan.

What are the KYC documents I need to submit to apply for the Ujjivan Small Finance bank business loan?

To apply for the bank loan in Ujjivan Small Finance bank you need to provide at least one Officially Valid Document like Voter Id or Aadhar card or pan card. These documents will prove the authenticity of your identity to meet the Ujjivan Small Finance bank business loan requirements.

What is loan foreclosure?

The loan foreclosure refers to the amount of the fully paid repayment out of the remaining amount of loan one need to pay in a single payment than opting for the multiple EMIs.

Get your latest Credit Score, FREE

Related Articles

Get in-depth knowledge about all things related to loans and your finances

Home Loan Interest Rates Spiked After RBI's Repo Hike
Shiv Kumar GuptaMay 12, 2022

Home Loan Interest Rates Spiked After RBI's Repo Hike

The Reserve Bank of India regulates the home loan criteria, which are constantly changing owing to numerous economic circumstances. Read the blog to learn more about the RBI and how its latest home loan guidelines wil

Read More
The Collateral World of Mortgaging Property
Satish PrajapatiJan 21, 2022

The Collateral World of Mortgaging Property

A mortgage is any immovable property that is given as a security or collateral against a loan for building a property. The party lending the money

Read More
The Definitive Guide: Acquire Home Loan From The Best Financial Banks
Satish PrajapatiJan 21, 2022

The Definitive Guide: Acquire Home Loan From The Best Financial Banks

The present year 2021 has been identified as a good year to invest in homes due to the lower interest rate on home loans as well as the reducti

Read More