IIFL Finance Business Loan

Features and Benefits of IIFL Finance Business Loan

Check out some of the attractive features and benefits of an IIFL Business Loan.

IIFL Finance Business Loan Eligibility Criteria

IIFL Finance Business Loan: Fees and Charges

IIFL Finance Business Loan Interest Rates

IIFL FINANCE business loan interest rates vary from individual to individual. It primarily depends on the age, financial standing, annual turnover of the business, and the nature of the organisation of the applicant. IIFL FINANCE offers attractive and customised interest rates ranging from 12.75% to 32% p.a.

Factors Affecting the IIFL Finance Business Loan Interest Rates

The IIFL Business Loan interest rates are determined via scrutinising the below factors concerning the borrower. 

CIBIL Score

The CIBIL score determines an individual’s credit repayment ability. A CIBIL score above 750 can lead to attractive interest rates at IIFL.

Loan Amount

Higher loan amounts result in lower interest rates and, in turn, lower EMIs. IIFL Finance offers business loans of up to INR 30 lakhs.

Annual Turnover

A high annual turnover reflects the profitability of the business and repayment capacity of the applicant. This augments the trustworthiness of the borrower, fetching them more affordable interest rates.

Business Vintage

To avail of a business loan with IIFL Finance, your business must have a minimum vintage of 3 years. If your business has been operating for more than three years, you can get a loan with lower interest rates.

IIFL Finance Business Loan Repayment Schemes

IIFL Finance allows you to repay your business loan with ease. You can opt for a repayment mode that suits your convenience in the comfort of your home. IIFL Finance provides you with three options:

IIFL Finance Business Loan: Documents Required

The applicant is required to submit the following documents to avail a business loan with IIFL Finance:

IIFL Finance Business Loan EMI Calculator

A business loan is a crucial commitment. Before availing of the loan, you should first decide on the loan amount required. You can get estimated repayment figures with Urban Money’s Business Loan EMI Calculator. 

Feed the loan amount, tenure and interest rate in the allocated spaces. An estimate will be displayed on your screen.

 Alternatively, you can calculate the EMI manually using the formula given below. 

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

Here,

• P = Principal loan amount
• R = rate of interest
• N = tenure of the loan (in months)

How Does IIFL Finance Compare with Other Lenders?

IIFL Finance Customer Care

To enquire about IIFL Finance business loans, you can reach out to the IIFL customer care number at 1860-267-3000/ 7039-050-000. You can also drop an email at reach@iifl.com.