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IDFC Bank Business Loan

Here are a few factors

How To Apply
Product Rating

( 4.5 /5 )

Total - 362 ratings

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226
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18
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Mode of Process

Offline

Lending Size and Tenure

1 Lac-9 Lac (12M to 48 M)

ROI

19%

ROI (Fixed/Reducing)

Fixed

Processing Fees

2% + GST

Foreclosure

After 6 Months with 4-5% Fees

Partial Payment Allowance

No

Dealing in Unsecured OD

No

Lowest EMI per lakh

Rs. 2990

USP

Funding to Negative Profile also provided Inhand Salary is 60k Per Month

IDFC Bank Business Loan EMI Calculator

Interest Type

Loan Amount

₹

Interest Rate

%

Loan Tenure

Mo
Loan Amount₹100,000
Interest %18 %
Tenure (months)12
Emi (monthly)₹ 9,168
Total Interest₹ 10,016
Loan Amount + Interest₹ 110,016
YearTotal Principal
( A )		Total Interest
( B )		Balance
( A + B)		Total Payment Loan Paid Till Date (%)
₹ 56,154₹ 8,022₹ 64,176₹ 43,84656.15 %
Jun₹ 7,668₹ 1,500₹ 9,168₹ 92,3327.67 %
Jul₹ 7,783₹ 1,385₹ 9,168₹ 84,54915.45 %
Aug₹ 7,900₹ 1,268₹ 9,168₹ 76,64923.35 %
Sep₹ 8,018₹ 1,150₹ 9,168₹ 68,63131.37 %
Oct₹ 8,139₹ 1,029₹ 9,168₹ 60,49239.51 %
Nov₹ 8,261₹ 907₹ 9,168₹ 52,23147.77 %
Dec₹ 8,385₹ 783₹ 9,168₹ 43,84656.15 %
₹ 43,848₹ 1,992₹ 45,840₹ 0100.00 %
Jan₹ 8,510₹ 658₹ 9,168₹ 35,33664.66 %
Feb₹ 8,638₹ 530₹ 9,168₹ 26,69873.30 %
Mar₹ 8,768₹ 400₹ 9,168₹ 17,93082.07 %
Apr₹ 8,899₹ 269₹ 9,168₹ 9,03190.97 %
May₹ 9,033₹ 135₹ 9,168₹ 0100.00 %
Work Process

Save Your Time with a Simple Loan Process

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Factors on which the Business loan interest rates are calculated

There are many factors on which IDFC Bank calculates the rate of interest for its Business loans. Some of these factors are

CIBIL Score: to get your business loan approved from IDFC Bank, your CIBIL score should be at least 750 or more than this.
Time in business: the minimum. The time frame of the business should be of at least 3 years when you apply for the business loan.
Loan amount: as we know that IDFC Bank offers business loans from 1lac to 9lac, so you should try to take a higher amount of loan. Because the more the loan amount would be, the lesser the interest rate would be.
Monthly revenue: if you have higher monthly revenue, that will help you in decreasing the rate of interest on your IDFC bank business loan.

Documents and Eligibility Required for IDFC Bank Business Loan

Let’s look into the eligibilities and required Documentation to make your application process even smoother:

Eligibility

  • The applicant should be between 25 to 65 years of age.
  • The minimum salary of the applicant should be20K-Existing IDFC Bank Customer & 40K for Other
  • The min. Employment should be 6 months of continuous salary
  • The minimum CIBIL score has to be 750
Apply for Loan

Documents Required

  • KYC of Applicant (PAN+Passport Size Photo+Adhar Card)
  • Last 6 Month Bank Statement in PDF of other Saving Account
  • Last 3 Month Salary Slip if Salaried customer
  • Last 2 years ITR if self-employed customer
  • Ownership Proof Latest Utility Bill (If rented then rent agreement)
  • Copy of Cancel Cheque of Salary Account or Passbook front page
  • Last 2 Year Form 16
  • Company ID (If not available then Office Mail ID & Land Line Number)
  • Copy of Appointment Letter
  • Any government-issued ID
  • ​​Business owners should have a turnover of at least Rs. 12,00,000.
  • Business continuity proof minimum of 3 years
  • Tax audit report for businessmen

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.

Leave Your Question

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 Personal Loan from Rs. 1,00,000 to Rs.9,00,000.

Yes, the bank will charge you a non-refundable amount of processing charges, ranging from 2% of the loan amount plus GST as applicable.

you can make the semi installments via laptop, or mobile phone application.

once the loan is foreclosed, you will get the papers from IDFC bank within 15 days.

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