Get Business Loan of ₹2 Lakh with Quick Approval
Planning to take your business to the next level? Achieve all your business goals with Poonawalla Fincorp’s Business Loan of ₹2 Lakh. Enjoy a seamless application process that is completely online, allowing you to apply for a loan at your convenience.
Get a collateral-free ₹2 Lakh loan for business and enjoy various benefits like minimal paperwork, quick loan processing, and flexible repayment tenure of up to 48 months. Utilise the amount for business expansion, purchasing inventory, hiring new talent, or meeting other financial needs.
Apply now and take your business to new heights with a Business Loan of ₹2 Lakh!
₹2 Lakh Business Loan EMI Calculator
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EMI Amount = *
Interest Rate and Charges for Business Loan
To know about the interest rates and applicable charges on Poonawalla Fincorp’s Business Loan of ₹2 Lakh, please see the table 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 | |
₹2 Lakh Business Loan EMI for up to 3 Years
The EMI for your loan is influenced by the loan amount, tenure, and interest rate. To plan your loan repayment, you can use the Business Loan EMI calculator.
The EMI amount for a ₹2 Lakh Business Loan will vary depending upon the tenure you have selected:
| Tenure | Approximate EMI at 15% Interest Rate |
| 1 years | ₹18,052*/month |
| 2 years | ₹9,697*/month |
| 3 years | ₹6933*/month |
₹2 Lakh Business Loan Eligibility Criteria
The eligibility criteria for Poonawalla Fincorp's ₹2 Lakh Business Loan are easy to meet and are listed below:
Age
Business Vintage
Annual Turnover
- Age: 24-65 years
- Business Vintage: At least 2 years
- Annual Turnover: Minimum ₹6 Lakh
Once you have met the eligibility criteria for our ₹2 Lakh loan for business, you can prepare the documents listed below to apply.
Documents Required for ₹2 Lakh Business Loan
You must provide the following documents during the loan application process:
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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 all the documents are submitted and the details are verified, the loan amount will be disbursed directly to your bank account.
Features and Benefits of ₹2 Lakh Business Loan
The different features and benefits you get with a ₹2 Lakh Business Loan include:
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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 ₹2 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 monthly EMI for ₹2 Lakh Business Loan depends on the loan amount, interest rate, and repayment tenure. You can calculate the monthly EMIs with the help of our Business Loan EMI calculator and plan your loan accordingly.
The interest on ₹2 Lakh Business Loan is calculated as per the following formula:
E = [P x R x (1+R) N] / [(1+R) (N-1)]
Where,
- P = Principal or the loan amount
- R = Monthly interest rate (annual interest rate/12)
- N = Number of monthly instalments (loan tenure)
To apply for ₹2 Business Loan from Poonawalla Fincorp, you must meet the eligibility criteria mentioned below:
- Age: 24-65 years
- Business Vintage: At least 2 years
- Annual Turnover: Minimum ₹6 Lakh
To know more, please visit the ‘Business Loan Eligibility and Documents’ page on our website.
*Terms & Conditions Apply
