Overview
Odisha is the ninth-largest state known for its rich history and famous ancient temples. Because of its strategic location and business environment, it offers endless opportunities to entrepreneurs. If you are a business owner in Odisha and want to upgrade or expand your business, get a collateral-free Business Loan in Odisha from Poonawalla Fincorp.
Avail quick funds with minimal documentation at attractive interest rates and flexible repayment option. Apply now!
Business Loan in Odisha EMI Calculator
Calculate your Business Loan EMI using an online EMI calculator. Enter the loan amount, tenure and interest rate to check the monthly instalment outgo.
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EMI Amount = *
Interest Rates and Other Charges
Here is a detailed overview of the interest rate and other charges:
| Types of Fee | Applicable Charges |
| Business Loan Interest Rates | 15% p.a. onwards |
| Loan Amount | ₹5 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 | 5% on principle outstanding plus applicable taxes |
| 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 Odisha Eligibility Criteria and Required Documents
Business Loan in Odisha Eligibility Criteria
Here are the eligibility criteria for Business Loan in Odisha:
- 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 a Business Loan in Odisha
Here are the necessary documents required:
| Documents | Requirement |
| KYC |
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| Business Address Proof | Utility bills/ Rent agreement |
| Financial Documents | Bank account statement of past 6 months. |
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 Odisha
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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 Odisha
Apply for a Business Loan in Odisha in 3 simple steps:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be transferred to your bank account.
Frequently Asked Questions
Approval of a Business Loan in Odisha takes place within a few minutes, provided you meet the desired eligibility criteria and submit all relevant documents.
Yes, you can avail a Business Loan from us with no security or collateral. You do not have to pledge any personal or business assets to get our unsecured loan.
To calculate the EMI amount, use our EMI calculator online. By adjusting the loan amount and tenure, you can derive the EMI amount instantly.
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