Loan Amount
Up to ₹75 Lakh
Interest Rate
Starting at 15%* p.a.
Loan Tenure
6-48 Months

Get a Collateral-free Business Loan in Mysore

Mysore, the City of Palaces, is renowned for its rich heritage, vibrant tourism industry and thriving business landscape. The presence of multiple business units across diverse economic sectors has made the city an attractive destination for businesses to flourish. Get quick access to a Business Loan in Mysore from Poonawalla Fincorp to expand your business, purchase machinery and equipment, upgrade their technologies, hire new staff, etc. Apply Now!

Why Choose Poonawalla Fincorp

High Loan
Amount
Collateral-free
Loan
Competitive
Interest Rate
Minimal
Documentation
Quick
Approval
Flexible
Repayment Tenure

Business Loan EMI Calculator

Calculate your EMI with our calculator. Enter your loan amount, interest rate and repayment tenure to know your EMI within seconds. Try it out now!

Optimise Your Business Loan Experience
With Monthly Budget Planning

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

Loan Amount

Interest Rate

%
15 %
30 %

Tenure

Months
6Months
48Months

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 Business Loan in Mysore

Get easy access to our loan by meeting the simple eligibility criteria:

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

Documents Required for a Business Loan in Mysore

Submit the mandatory documents while applying:

  • KYC Documents
  • Financial Documents
  • Business Address Proof

Click to know more about the documentation in detail.

Interest Rate and Charges for a Business Loan in Mysore

We offer Business Loan at affordable interest rate and nominal charges:

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 Business Loan in Mysore

  • Expand or diversify business operations
  • Hire and train new staff
  • Debt consolidation
  • Improve working capital reserves
  • Upgrade existing business infrastructure

Who Can Get a Business Loan in Mysore

  • MSMEs
  • Retail shop owners
  • Women entrepreneurs
  • Small business owners
  • Sole proprietors

Tips for a Successful Business Loan Application

  • Know your business requirements
  • Formulate a business plan
  • Check your credit score and repayment history
  • Arrange the necessary documents for submission

Poonawalla Fincorp Branch Address in Mysore

Poonawalla Fincorp Limited

Address: 2nd Floor, House No.53, 53/1, 53/2, 53/3, 53/4, 53/5, 5th Main, 5th Cross, Saraswathipuram, Chamaraja Mohalla, Mysore, Karnataka - 570009

Contact Number: 1800-266-3201 (Toll Free)

Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays)

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 minimum Business Loan amount in Mysore?

The minimum loan amount for getting a Business Loan is ₹5 Lakh. Note that the maximum loan amount can go up to ₹75 Lakh.

Can I start a new business with a Business Loan?

No, you need to have an established business with a vintage of at least two years to apply for a Business Loan with Poonawalla Fincorp.

Do I need a good credit score to apply for a Business Loan in Mysore?

Yes, you need a credit score of 750 and above to get approval on your loan application.