Overview
Karnataka, a state in southern India, has the fourth highest income per capita. Many renowned companies, start-ups, and mid-sized IT companies have their offices here. This state offers opportunities to aspiring entrepreneurs.
If you are an entrepreneur in Karnataka and looking to take your business to the next level with the necessary funds, Poonawalla Fincorp’s Business Loan is the ultimate financing solution. Apply now to get an unsecured Business Loan in Karnataka of up to ₹50 Lakh with a flexible tenure of up to 48 months.
Business Loan in Karnataka EMI Calculator
An EMI calculator is an online handy tool that lets you fix the EMI amount you need to pay every month. Just enter the total loan amount, interest rate, and loan tenure, and you can calculate your EMI amount hassle-free.
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EMI Amount = *
Interest Rates and Other Charges
We analyse the banking and financial statements of entrepreneurs to offer an affordable rate of interest with our Business Loan in Karnataka.
| Types of Fee | Applicable Charges |
| Rate of Interest | 15% p.a. onwards |
| Processing Fees | Up to 3% plus taxes. |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus taxes. |
| Default Interest | 2% per month. |
| Loan Amount | ₹1 Lakh to ₹50 Lakh. |
| Lowest EMI per month | From ₹2,783 per Lakh for 48 months. |
| Loan Tenure | 6-48 months. |
| Prepayment/Foreclosure Charges | 0% if paid on own sources and 4% from other sources. |
| Stamp Duty | At actuals (varies between states). |
| No Other Hidden Charges | |
Business Loan in Karnataka Eligibility Criteria and Required Documents
Business Loan in Karnataka Eligibility Criteria
The eligibility requirements are:
- Age: Applicant must be between 24 to 65 years.
- Business Vintage: Business vintage must be of at least 2 years.
- Annual Turnover: Businesses must have an annual turnover of ₹6 Lakh minimum.
Note: The above-mentioned Business Loan eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Documents Required for Business Loan in Karnataka
Here are the documents required for a Business Loan in Karnataka:
| Document Category | Business Loan in Karnataka Documents |
| KYC Documents |
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| Financial Documents | Bank account statement for the last 6 months. |
| Business Address Proof | Utility bills/ Rent agreement. |
Note: The above-mentioned Business Loan documents list is indicative. Additional documents may be required during loan processing.
Features and Benefits of Business Loans in Karnataka
Here are the salient features and benefits of our Business Loans in Karnataka:
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Extended Loan Tenure
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Online Application
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Smooth Disbursal
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Competitive Rates of Interest
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Collateral Free
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Simplified Documentation
Apply for an Business Loan in Karnataka within 5 Minutes
The approximate time for the loan application process is 5 minutes.
- Step 1: Click on “Apply Now”.
- Step 2: Provide the annual turnover of your business and other details.
- Step 3: The loan application will proceed further for thorough verification and assessment.
Frequently Asked Questions
Our business loans are perfect for financing capital requirements, upgrading equipment, business growth and improvement, and more.
Opting for a business loan in Karnataka will let you enjoy its benefits without pledging any business or personal assets as collateral. This will be more convenient and risk-free.
You can get unsecured business loans approved instantly with us in approximately 5 minutes.
*Terms & Conditions Apply
