Get a Business Loan of ₹10 Lakh with Minimal Paperwork!
If you're a business owner in need of additional funding, Poonawalla Fincorp offers an excellent solution - a Business Loan of up to ₹10 Lakh. The loan application process is quick and easy, with minimal documentation required, allowing you to access funding quickly and efficiently. Furthermore, the loan also comes with flexible repayment options to assist you in managing your finances effectively.
Whether you want to expand your business, purchase new equipment, or manage your working capital, Poonawalla Fincorp's Business Loan is precisely what you need. With this loan, you can take your business to the next level while avoiding financial strain.
₹10 Lakh Business Loan EMI Calculator
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EMI Amount = *
Interest Rate and Charges for Business Loan
The interest rates and applicable charges on Poonawalla Fincorp’s Business Loan of ₹10 Lakh are listed below:
| 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 | |
₹10 Lakh Business Loan EMI for up to 3 Years
The EMI for a ₹10 Lakh Business Loan can vary as per the interest rate, principal amount, and repayment tenure. To know the EMI for up to 3 years, please see the table below:
| Tenure | Approximate EMI at 15% Interest Rate |
| 1 years | ₹90,258*/month |
| 2 years | ₹48,487*/month |
| 3 years | ₹34,665*/month |
You can also use our Business Loan EMI calculator to determine your EMI amount and repayment schedule.
₹10 Lakh Business Loan Eligibility Criteria
You must meet the below-mentioned eligibility criteria to apply for a ₹10 Lakh Business Loan from Poonawalla Fincorp:
Age
Business vintage
Annual turnover
- Age: 24-65 years
- Business vintage: At least 2 years
- Annual turnover: Minimum ₹6 Lakh
If you meet the eligibility criteria for a ₹5 Lakh loan for business, you can go ahead and arrange the required documents listed below and begin the application process.
Documents Required for ₹10 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
Upload and submit these documents with the loan application for further assessment and verification.
Features and Benefits for ₹10 Lakh Business Loan
Our Business Loan of ₹10 Lakh come with the following features and benefits:
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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 ₹10 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
Yes, you can get a Business Loan of ₹10 Lakh from Poonawalla Fincorp if you fulfil our eligibility requirements, upload the required documents, and follow the above-mentioned steps to apply instantly.
To calculate the EMI amount for a ₹10 Lakh Business Loan, you can use our EMI calculator online by entering the loan amount, interest rate, and preferred tenure.
A CIBIL score of 750 and above is considered excellent by lenders and can help you find the best loan offer at favourable terms.
*Terms & Conditions Apply
