Get a Business Loan of ₹5 Lakh with Minimal Documentation!
Poonawalla Fincorp offers a Business Loan of ₹5 Lakh to help business owners meet their specific financial requirements. The loan has many benefits, including flexible repayment options, minimal documentation, and quick approvals.
With this loan, you can expand your business, purchase inventory, upgrade equipment, or finance any other operational needs. The application process is simple and hassle-free, and you can get your loan approved quickly. Apply for a Business Loan of ₹5 Lakh today and accelerate business growth to reach new heights of success.
₹5 Lakh Business Loan EMI Calculator
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EMI Amount = *
Interest Rate and Charges for Business Loan
We ensure complete transparency with our loan terms to help you make an informed decision. Please find the applicable charges listed below for your reference:
| Rate of Interest | 15% to 28% p.a.* |
| Processing Fees | Up to 3% plus applicable taxes |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Default Charges | 24% per annum |
| Loan Amount | ₹5 Lakh to ₹75 Lakh |
| Lowest EMI per Month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 to 48 months |
| Prepayment/Foreclosure Charges |
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| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
₹5 Lakh Business Loan EMI for up to 3 Years
The EMI amount of a loan is determined by the interest rate, principal loan amount, and the repayment period. We have made it easier for you to calculate your loan EMIs with our online Business Loan EMI calculator.
The EMI amount of a ₹5 Lakh Business Loan for up to four years is listed below:
| Tenure | Approximate EMI at 15% Interest Rate |
| 1 Year | ₹45,129*/month |
| 2 Years | ₹24,243*/month |
| 3 Years | ₹17,333*/month |
₹5 Lakh Business Loan Eligibility Criteria
The eligibility criteria for our ₹5 Lakh Business Loan are listed below:
Age
Business Vintage
Annual Turnover
- Age: 24-65 years
- Business Vintage: At least 2 years
- Annual Turnover: Minimum ₹6 Lakh
You can begin the application process for the ₹5 Lakh loan for business if you meet our eligibility criteria.
Documents Required for ₹5 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
After you upload and submit these documents with the loan application, the details will be verified by our team. Post successful verification, the approved loan amount will be disbursed to your bank account.
Features and Benefits for ₹5 Lakh Business Loan
You can enjoy several features and benefits with our ₹5 Lakh Business Loan, including:
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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 ₹75 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 ₹5 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 for a ₹5 Lakh Business Loan can vary as per the principal loan amount, the repayment tenure, and the applicable interest rate. You can use Poonawalla Fincorp’s Business Loan EMI calculator to determine your loan EMI amount.
You can instantly apply for a ₹5 Lakh loan for business through Poonawalla Fincorp in just three simple steps:
- Click on ‘Apply Now’ and enter your contact details.
- Enter your annual business turnover and other business details.
- Upload the documents and submit them with the application for verification and assessment.
You must meet our basic loan eligibility criteria to apply for a ₹5 Lakh Business Loan from Poonawalla Fincorp. Please visit our ‘Business Loan Eligibility and Documents’ page to know more.
*Terms & Conditions Apply
