Get a Business Loan of ₹1 Lakh with Quick Approval
Looking for a quick and hassle-free Business Loan to meet your urgent financial needs? Poonawalla Fincorp offers a Business Loan of ₹1 Lakh with minimal documentation and a 100% digital process. Our loan application process is simple, fast, and transparent, with quick approval and disbursement.
Avail of a ₹1 Lakh loan for business without any collateral. and enjoy a flexible repayment period of up to 48 months. You can use the loan amount to expand your business, purchase inventory, or meet any other urgent financial requirements.
So, if you need a ₹1 Lakh Business Loan quickly, apply now with Poonawalla Fincorp and get the funds you need to take your business to new heights of success.
₹1 Lakh Business Loan EMI Calculator
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Interest Rate and Charges for Business Loan
The applicable interest rates and charges on Poonawalla Fincorp’s ₹1 Lakh Business Loan are listed in the table below, ensuring complete transparency when it comes to loan terms:
| Rate of Interest | 15% to 28% p.a.* |
| Processing Fees | Up to 3% plus applicable taxes |
| Repayment Instrument Dishonour Charges | ₹1,000 per bounce plus applicable taxes |
| Default Interest | 3% per month |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Lowest EMI per Month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 to 48 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
₹1 Lakh Business Loan EMI for up to 3 Years
The loan EMI amount is calculated based on the principal loan amount, the interest rate, and the repayment tenure. You can use a Business Loan EMI calculator to determine the estimated EMI you’ll be required to repay over the agreed-upon tenure.
To find out the EMI amount of a ₹1 Lakh Business Loan for up to four years, please see the table below:
| Tenure | Approximate EMI at 15% Interest Rate |
| 1 Year | ₹9,026*/month |
| 2 Years | ₹4,849*/month |
| 3 Years | ₹3,467*/month |
₹1 Lakh Business Loan Eligibility Criteria
Our eligibility criteria are easy to meet, and we require only a few essential documents for loan approval.
Age
Business Vintage
Annual Turnover
- Age: 24-65 years
- Annual Turnover: Minimum ₹6 Lakh
- Business Vintage: At least 2 years
If you meet the eligibility criteria for our ₹1 Lakh loan for business, you can prepare the documents listed below to proceed with the application process.
Documents Required for ₹1 Lakh Business Loan
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KYC Documents
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Business Address Proof
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Financial Documents
- KYC Documents: PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport, Business Registration Proof
- Business Address Proof: Utility bills/Rent Agreement
- Financial Documents: Bank account statement from the past 6 months
Once your documents and details are verified, the approved loan amount will be disbursed to your chosen bank account.
Features and Benefits for ₹1 Lakh Business Loan
Poonawalla Fincorp’s ₹1 Lakh Business Loan comes with several features and benefits, such as:
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Business Loan without any security or collateral
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Minimal documentation
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Instant approval and disbursal
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Competitive Business Loan interest rate
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Sizeble sanction up to ₹50 Lakh
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Hassle-free, online application provision
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Flexible tenure of up to 48 months
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Fulfil urgent Business Loan requirements
Apply for ₹1 Lakh Business Loan within 5 Minutes
Apply
Online
Apply Online
Click on Apply Now and enter your contact details.
Business
Details
Business Details
Enter your annual business turnover and other business details.
Verification
Verification
The application will then proceed for verification and assessment
Frequently Asked Questions
The EMI amount for a ₹1 Lakh Business Loan depends on the principal amount, the loan tenure, and the interest rate. You can use our Business Loan EMI calculator to determine the estimated EMI of your Business Loan.
Yes, you can apply for a ₹1 Lakh loan for business from Poonawalla Fincorp in just 3 simple steps, which are mentioned above.
To apply for a ₹1 Lakh Business Loan from Poonawalla Fincorp, you must meet our specified eligibility criteria, which you can check on our ‘Eligibility and Documents for Business Loan’ page.
*Terms & Conditions Apply
