IIFL Business Loan – Features, Eligibility and Application Process
The emotional burden of borrowing money from family and friends to reduce financial problems in any business can be annoying। In such situations, commercial loans from banks and non-bank finance companies ( NBFC ) Business Loans ( Business Loans ) may be the best option to deal with the current problem।
In fact, a business loan ( Business Loan) not only gives the borrower more financial freedom but also increases his self-esteem।
A business loan is a financial instrument that can be used to fund a business and run its day-to-day operations। IIFL business loans are available to both new and existing businesses, looking to promote growth and expand their reach
IIFL Business Loan promises its customers a hassle-free application process and immediate delivery। Eligible customers only at an interest rate of 11% per annum. Can get up to 30 lakhs, they also get 5 years repayment flexibility and 100% peace of mind with better customer support from IIFL team
IIFL Business Loan Benefit
- Loan Amount
- Up to 30 Lakh
- Up to 5 years
- Application Process
- 100% Online
- No paperwork is required – Minimal documentation
- Interest Rates
- 12.75% p.a onwards
- Approval & Disbursal
- Apply & check eligibility online
- 10 minute disbursal
- Get loan amount directly in to bank account
- FOR SELF EMPLOYED CUSTOMER
- Age Group
- 23 to 65 years
- Income Range €8,000+
- Documents Required
- Identity proof
- Any one of the
- documents – PAN Card,
- Ration Card, Aadhaar
- Card, Voter’s ID Card,
- Driving Licence
- Address proof
- Any one of the documents – Aadhaar card, passport, Voter ID Card
How do I apply for IIFL Business Loan?
- IIFL business loans can be applied online Apply Now
- You will be redirected to the application form। Here, you enter your name, phone number, base and pan card details।
- These details will be processed to determine your loan eligibility।
- You can choose the loan amount you want and submit your application।
- You will then have to upload your bank account details, business documents, copy of PAN and Aadhaar, and other KYC documents to complete the loan process।
- After verification of these documents, your loan is approved। You will be informed about your loan processing via SMS and email।
- The loan amount will be credited to your bank account within 48 hours of loan approval।
Frequently Asked Questions
What documents are required to apply for a loan?
List of documents -PAN card Aadhaar Card Last 6-12 months CA/SA bank statement
Business Proof & Business Vintage proof (eg: FDA Licence Gumasta/Shops & Establishment,
GST, etc.) GST Mandatory with 2 Years Vintage for loan amount 10 Lakhs
Do I need to deposit any security or provide collateral?
No, you are not required to deposit security or provide collateral
What is the maximum loan amount that can be availed from IIFL
Business Loan IIFL Business Loan offers the maximum loan amount up to Rs. 30 lakhs
What is the mode of repayment?
IIFL Business loan can be repaid through monthly EMIS, ECS or through Cheques
How much is the processing fee
Processing fee for this loan is 2% to 4% of the loan amount + GST
What is the maximum loan amount in IIFL?
Documents Required – Only PAN, Aadhar & Bank Statements required
Processing Fee – 2% – 6% + GST* (Additional Upto 500 will be charge asConveniencFees)
What will be the EMI for 50 lakhs business loan?
50 Lakh Loan EMI for 1-5 Years Tenure. The EMI for a Rs 50 lakh loan for 1-year loan tenure
at an 9% rate of interest per annum is 4,37,257. Similarly, for 2-year tenure is
2,28,428, 3-year tenure is 1,58,999, 4-year tenure is ₹1,24,425 and 5-year tenure is
What is the eligibility for business loan?
What are the eligibility criteria for taking a business loan? To apply for our business
loan, you should be between 24 years and 70 years of age, with a CIBIL Score
of 685 or higher. Your business should also be at least 3 years old.
Can I get business loan without income proof?
A good CIBIL score can go a long way: Financial institutions, private lenders and NBFCs often provide loans on the basis of a healthy CIBIL score. If your CIBIL score is at least 750, you will be eligible to get unsecured loans. In this case, you will get a business loan without ITR and income proof.
What is income proof for businessman?
You can simply file an Income Tax Return, which itself is a solid proof of your annual income. You can have your books of accounts for supporting your income.
How can I get a loan without GST number?
Duly filled application form with Passport-sized photographs.
Identity Proof: Voter’s ID card, passport, driving license.
Business existence and address proofs.Income Proof: Last 12 months bank statement.
PAN card of company, individual or partnership(s), whichever applicable.
How do I contact IIFL customer care?
Phone. 1860-267-3000, 7039-050-000.
Time: 9:30 AM to 6 PM.
Closed on: Saturday, Sunday and Public Holidays.
How do I check my IIFL loan statement?
- How to Get IIFL Loan Statement?
- Login using your credentials.
- Click on Home Loan Interest Certificate next.
- Select the account against which you need the statement.
- Download and print the statement in PDF format
Can I check my loan status?
You will need to go to the official website of the bank or financial institution. On the website, you need to look for the “check loan status” option. Now you will need to enter the details you have mentioned in the loan application such as date of birth, email address, mobile number, etc.
How much loan can I get on 10k salary?
For example, if you earn a gross monthly salary of Rs. 10,000, you may be eligible for a loan of Rs. 4,84,790 at an interest rate of 8.65 % for 24 years. It is as long as you do not currently owe any other money, such as a personal loan, auto loan, or other debt.
What is processing fee in IIFL?
What Is The Processing Fee For A Personal Loan? | IIFL Finance
Ans: IIFL Finance loan processing fee ranges from 2%-4%+GST. Q. 2: Do I need collateral to take a personal loan from IIFL Finance? Ans: No, you do not need to pledge any asset as collateral to take a loan from IIFL Finance.