Digikredit-SME Corner Business Loan

Features and Benefits of Digikredit SMEcorner Business Loan

• Strong Digital Interface: Digikredit maintains a robust digital UI that makes the entire loan processing faster, smoother and hassle-free for business owners.
• Instant Loan Processing: If you have filed the application properly and provided all the documents required, your loan will be processed instantly.
• Hassle-free Process: SMEcorner has kept the application process fairly simple to avoid any confusion so that the loan can be approved and processed without any delays.
• No Collaterals: Unlike other forms of loans, Digikart’s business loan doesn’t ask you for any collateral. Hence, it’s an unsecured business loan.
• Flexible Tenure: SMEcorner offers a flexible tenure option of 12 to 36 months providing borrowers more time to repay their loans.

Digikredit SMEcorner Business Loan Overview

If you are planning to grow your business and take it to a new peak, a business loan would be the perfect option for you. It will help you maintain your cash flow and enable you to cover any unexpected expenses easily. Digikredit SMEcorner uses modern technology and deep analytics to provide an efficient solution to all the small and medium enterprises in India. You can apply for Digikredit SMEcorner Business Loan and get customised loan solutions of up to ₹ 25 lakhs.

Digikredit SMEcorner Business Loans have been designed to fund small and medium enterprises. It offers competitive interest rates, minimal documentation, flexible tenure and repayments to make the process of availing of a business loan extremely convenient. SMEcorner provides your business with an upper edge that helps you thrive in the face of competition.

• Business loan amounts range from Rs. 50,000 to Rs. 25 lakh
• No collateral required
• Loan disbursed in 3 working days    

Eligibility Criteria to Apply for Digikredit SMEcorner Business Loan

Businesses planning to seek a Digikredit SMEcorner business loan must fulfil the following criteria:

• The applicant must have a minimum turnover of ₹40 lakhs.
• Businesses applying for the loan must have a Minimum Annual Income of ₹1.5 lakhs per annum.
• The business of the applicant must have been generating profit for the last 2 years.
• The age of the applicant must be at least 21 years old and not older than 65 years at the time of maturity.
• The applicant must have an active business for a minimum of 3 years.
• A business experience of 5 years is a must-have.
• Any self-employed individuals, Private Limited Companies, Partnership Firms, and Proprietorship in the business of trading, services and manufacturing can apply for a business loan.

Digikredit SMEcorner Business Loan Fees and Charges 

Digikredit SMEcorner Business Loan Interest Rates

The Digikredit SMEcorner Business Loan interest rate varies from one business to another, depending on their annual turnover, credit profile, nature of business, and more. You can call Digikredit SMEcorner’s customer care executive to know the exact rates you may have to pay on the loan.

Factors Affecting Digikredit SMEcorner Business Loan Interest Rates

Borrowers always seek a business loan that delivers a significant amount at low-interest rates. However, interest rates always vary. There are certain factors that any bank, NBFC, or financial institution consider before rendering a specific interest rate for a business loan. Factors affecting Digikredit SMEcorner Business loan are as follows:

Documents Required for Digikredit SMEcorner Business Loan

Submit the following documents along with your business loan application for a Digikredit SMEcorner Business Loan:

How Does the EMI Calculation Work for Digikredit SMEcorner Business Loans?

You can use Urban Money’s Business Loan EMI Calculator to get an estimate of your business loan EMI so that you can adjust the loan amount or the tenure accordingly.

Furnish the total amount of loan, loan tenure, and interest rate in the respective blank spaces and click on the ‘Calculate’ button. The result will be displayed on the screen. You will get the amount of monthly EMI you have to pay and the total interest amount payable.

The formula for calculating EMIs on the business loan:

EMI= [P x R x (1+R)^N]/[(1+R)^ (N-1)]

Where,

P = Principal Amount

R = Personal loan ROI or rate of Interest

N = Loan Tenure in months

How Does Digikredit SMEcorner Compare with Other Lenders?

Glance through the table below to understand the comparison of Digikredit SMEcorner business loan interest rate with that of its competitors.

Digikredit SMEcorner Business Loan Customer Care Number

To enquire about the SMEcorner Business Loan requirements, you can reach out to the SMEcorner customer care number at 1800-103-7382, which is accessible pan India. You can also contact them via email at service@smecorner.com.