Overview
Mizoram is one of the popular tourist destinations in the Northeast. Its economy is mainly dependent on agriculture, small-scale industries, and transportation. If you are a business owner looking to ramp up your existing business, avail collateral-free Business Loan in Mizoram from Poonawala Fincorp. Get up to ₹50 Lakh at competitive interest rates with quick disbursal and no hidden charges. Apply now!
EMI Calculator for Business Loan in Mizoram
An EMI calculator is a useful online tool for planning the EMI amount you need to pay out each month. Enter the loan amount, interest rate, and tenure of the loan to calculate the exact EMI using Poonawalla Fincorp’s EMI calculator.
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EMI Amount = *
Interest Rates and Other Charges
Here are the interest rate and additional charges:
| Types of Fee | Applicable Charges |
| Business Loan Interest Rates | 15% p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% plus applicable taxes |
| Lowest EMI per month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 - 48 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources and 4% If paid from other sources |
| Default Interest | 2% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Business Loan in Mizoram Eligibility Criteria and Document Requirement
Business Loan in Mizoram Eligibility Criteria
Here are the eligibility criteria for Business Loan in Mizoram:
- Age: Applicant must be between 24 to 65 years.
- Business Vintage: The business must have been operational for at least 2 years.
- Financial Performance: The business must have a minimum annual turnover of ₹6 Lakh.
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 Mizoram
Submit the following documents while applying for our Business Loan in Mizoram:
| Document Category | Business Loan in Mizoram 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 Loan in Mizoram
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Higher Loan Amount
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Collateral-Free
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Competitive Interest rates
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Minimal Documentation
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Flexible Loan Tenure
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Online Application Process
- Higher Loan Amount: Get up to ₹50 Lakh.
- Collateral-Free: Avail the loan without pledging any collateral.
- Competitive Interest rates: Get interest starting at 15% p.a.
- Minimal Documentation: Provide business address proof, KYC and financial documents.
- Flexible Loan Tenure: Choose repayment tenure of up to 48 months.
- Online Application Process: Apply online from our official website.
How to Apply for a Business Loan in Mizoram
Apply for a Business Loan in Mizoram in 3 simple steps:
- Step 1: Click the "Apply Now" button and enter your contact details
- Step 2: Enter important business information, such as your company's annual turnover
- Step 3: Click "Submit," and the application will be evaluated and verified
Upon successful verification of your application, the approved amount will be credited to your bank account.
Frequently Asked Questions
You can avail of a Business Loan for various business-related purposes, such as meeting working capital requirements, purchasing fixed assets, or any business expansion purpose.
The interest rate for a Business Loan starts from 15% p.a. onwards.
Get collateral-free loans with simple application and minimal documentation, competitive interest rates and much more.
*Terms & Conditions Apply
