Interest Rate
Starting at 15%* p.a.
Loan Tenure
6-48 Months
Hidden Charges
0%

Get a Business Loan of ₹5 Lakh

Take your business’ growth to new heights with our ₹5 Lakh Business Loan. From business expansion to purchasing new equipment, our loan covers any of your business needs. Benefit from minimal paperwork, attractive interest rate, and quick approval. Enjoy a hassle-free online application process that is designed to empower entrepreneurs like you. Apply now!  

Why Choose Poonawalla Fincorp

No Collateral
Required
Competitive Interest
Rate
Quick
Approval
Minimal
Documentation
Flexible Repayment
Tenure
No Hidden
Charges

₹5 Lakh Business Loan EMI Calculator

Plan your loan repayments with our EMI calculator. Strategically map out your EMIs, ensuring you are on track with your monthly budget goals. Try now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99 %
30 %

Tenure

Months
12Months
84Months

Apply for a Business Loan in Just 3 Steps

Click on "Apply Now”

Tap the "Apply Now" button to initiate your application.

Enter Details

Enter your DOB, PAN card number, monthly income, and residential details.

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a ₹5 Lakh Business Loan

Meet the simple requirements to be eligible:

  • Age: Between 24 and 65 years.
  • Citizenship: Indian.
  • Annual Turnover: Minimum ₹6 Lakh.
  • Business Vintage: At least 2 years.

Documents Required for a ₹5 Lakh Business Loan

Submit the following documents:

  • KYC Documents
  • Business Address Proof
  • Financial Documents

Click to know more about the documentation in detail.

Interest Rate and Charges for a ₹5 Lakh Business Loan

Check the interest rate and charges of our loan:

Interest Rate
15%* p.a. onwards
Loan Amount
₹5 Lakh to ₹75 Lakh
Loan Processing Fees
Up to 3.5%
Lowest EMI Per Month
Starting from ₹13,915* per Lakh for 48 months
Loan Tenure
6-48 months
Prepayment/Foreclosure Charges
Up to First 6 EMIs: 6% on principal outstanding + taxes

After 6 EMIs: 5% on principal outstanding + taxes
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500 per bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Different Uses of a ₹5 Lakh Business Loan

  • Expanding and renovating your business
  • Diversifying into new products or services
  • Purchasing the latest equipment or software
  • Hiring additional employees
  • Increasing reserves for working capital
  • Capitalising on new opportunities

Who Can Get a ₹5 Lakh Business Loan

  • A retail shop owner
  • Sole proprietorship
  • MSME (micro, small and medium enterprise)
  • Women entrepreneurs

Tips for a Successful Business Loan Application

  • Know your business needs
  • Create a business plan
  • Check your credit score
  • Keep all the documents ready

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

What is the interest rate for a ₹5 Lakh Business Loan?

Interest rate starts from 15% annually and depends on your credit profile and business financials.

Can I get a ₹5 Business Lakh Loan if I have a low credit score?

We consider various factors beyond credit score, including business performance and cash flow. However, a minimum CIBIL score of 750 is desirable. 

How long does it take to get a Business Loan from Poonawalla Fincorp?

The loan process is streamlined, and approval occurs within a few days of submitting and verifying all required documents.