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IDFC Bank Business Loan
IDFC First Bank, a debt-issuing institution in India, is listed in the NSE and BSE lists. In India, IDFC First Bank offers debt financing to small and medium-sized businesses and consumers.
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IDFC Bank Business Loan
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IDFC Bank Business LoanHere are a few factors
| Location | 50 Km from Branch |
| CIBIL Score | 700+ |
| Processing | Online |
| Business Vintage | 3 Year |
| Minimum Turnover | 1 Crore+ |
| Loan Amount & Tenure | 10
Lac-75 Lac (12 Month to 36 Month) |
| Loan Product | Term Loan & OD Product |
| Rate of Interest & Type | 16% -19% (Reducing) |
| TAT | Sanction-1
Days Disbursement-7 Days |
| Processing Fees | 1.50%-3% |
| Foreclosure Charges | 5% (12 month lockin period) |
| Applicant Type | Any Self Employed Person |
| Whether Co-Applicant Mandatory | Yes,
when applicant is other than individual or proprietorship firm or his age is
less than or more than the standard age |
| Proprietor Age/Co-Applicant Age | 24 Year-65 Year |
| Part Payment Allowed | No |
| Whether Ownership Proof Required | Yes, Either Office or Residence should be owned within reach of IDFC Bank |
| Business Registration Proof Mandatory | Yes |
| Program | 1.
Banking-35 Lac 2. GST Program-35 Lac 3. Income Program-75 Lac |
| Product for Professionals | 1.
Loan to Chartered Accountant on COP base 2. Loan to MBBS doctors on COP base |
| Negative Profile | Advocates, Jewellers, Share Traders, Both Side Rented,GYM,Real Estate |
| USP | No Financial Required upto 35 Lac Loan |
| Additional | 1. 51% Shareholding required on Loan if applicant is LLP/Partnership firm/Company |
IDFC Bank Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 16 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,073 |
| Total Interest | ₹ 8,877 |
| Loan Amount + Interest | ₹ 108,877 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,530 | ₹ 3,689 | ₹ 27,219 | ₹ 76,470 | 23.53 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,471 | ₹ 5,186 | ₹ 81,657 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Documents Required for IDFC Bank Business Loan
Let’s look into the eligibilities and required Documentation to make your application process even smoother:
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Note : IDFC Bank Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
About IDFC Bank Business Loan
IDFC Bank is a new professional managed privet sector bank in India. As of the latest reports, IDFC Bank has funded a strong asset base of more than Rs. 1,10,400 crore with almost 37% in the retail segment. IDFC has been offering all kinds of loans with great interest rates. However, IDFC Bank Business loans have turned out to be the best loans provided by the bank as they have helped many businesses to attain great heights. IDFC banks provide support to its customers for business upgrades, equipment purchases required in the business, and any other business needs as well. The main benefit of IDFC Bank business loans is that they provide business loans requiring no security or collateral.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
A Business loan is a loan that is taken by a lender and aids financially to take the business to great heights. And in return, this also allows the lender they can take away your business assets if in case you fail to repay the borrowed amount.
When you need credit, you apply for a loan. The lender verifies and accepts your Business loan application when you submit it to them. Then the loan amount is transferred into your bank account.
yes, you can apply for an IDFC Bank Business loan for the below categories: Purchase of a New Business Construction of a Business To get the Business repaired To get-Business improvements done To get the Business extended or renovated
IDFC Bank offers business loans starting from 12 months to 48 months.
a business loan disbursal take around 2 working days.
IDFC Bank offers Business Loan from Rs. 1,00,000 to Rs.75,00,000.
Yes, the bank will charge you a non-refundable amount of processing charges, ranging from 3% of the loan amount plus GST as applicable.
you can make the semi installments via laptop, or mobile phone application.
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