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

Get a Hassle-free Business Loan in Salem

Salem is known for its textile industry, steel plants, sandalwood and cottage industries. Capitalise on this business growth opportunities with a Business Loan in Salem from Poonawalla Fincorp. Upgrade your business by purchasing the latest equipment, tools and software or fulfil any business requirement with our loan. Choose Poonawalla Fincorp as your trusted lending partner and avail a range of benefits, including a seamless application process, competitive interest rate, flexible tenure and more. 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 monthly repayments effortlessly with our online EMI calculator. Enter the loan amount, tenure, and interest rate to estimate your monthly outgo. Try 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 Salem

Meet our simple eligibility criteria:

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

Documents Required for a Business Loan in Salem

Submit just a few mandatory documents to apply:

  • KYC Documents
  • Business Address Proof
  • Financial Documents

Click to know more about the documentation in detail.

Interest Rate and Charges of a Business Loan in Salem

We offer Business Loan at attractive interest rate and minimal 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 Salem

  • Expand or renovate your business
  • Purchase equipment and tools
  • Hire new staff
  • Launch a new product
  • Manage daily operations
  • Consolidate multiple business debts

Who Can Get a Business Loan in Salem

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

Tips for a Successful Business Loan Application

  • Check your CIBIL score
  • Create a proper business plan
  • Check the eligibility criteria
  • Keep all necessary documents ready
  • Reduce your business’s liabilities

Poonawalla Fincorp Branch Address in Salem

Poonawalla Fincorp Limited

Address: No 258/2,2/91, 2nd Floor, Sri Vaari Shopping Mall, New Bus Stand Main Road, Meyyanur, Salem, Tamil Nadu-636004

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

rightArrow
rightArrow

Frequently Asked Questions

Which is the best Business Loan in Salem?

Poonawalla Fincorp offers the best Business Loan in Salem with high loan amounts, attractive interest rate, online application, no collateral requirement, flexible repayment tenure, and no hidden charges.

What is the best time to apply for a Business Loan in Salem?

Apply whenever you have urgent expenses, such as a shortage of working capital or when you want to execute business plans like expansion or equipment upgrade. Ensure you have enough cash flow to make regular repayments.

What are the business-related documents required for a Business Loan?

To apply for a Business Loan from Poonawalla Fincorp, the following business documents are required:

  • KYC Documents
  • Business Address Proof
  • Financial Documents

Click to know more about documentation in detail.