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

Get a Quick Business Loan in Vellore

Vellore is a bustling city known for its rich history, educational institutions, leather manufacturing industry and emerging business opportunities. Expand and grow your business with a Business Loan in Vellore from Poonawalla Fincorp.

From business expansion to hiring new employees, fulfil all your business needs with our loan. Get a high loan amount of up to ₹75 Lakh at competitive interest rate with minimal paperwork, swift disbursal, flexible repayment tenure, and no hidden charges. 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

Manage your monthly instalments efficiently with our EMI calculator. Enter the loan amount, tenure, and interest rate. 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 Vellore

Meet our simple eligibility criteria to qualify:

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

Documents Required for a Business Loan in Vellore

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 for a Business Loan in Vellore

We offer Business Loan at competitive 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 Vellore

  • Business expansion
  • Working capital management
  • Plant and machinery purchase
  • Debt consolidation
  • Marketing and advertising expenses

Who Can Get a Business Loan in Vellore

  • Owners of MSMEs
  • Retail shop owners
  • Sole proprietors
  • Women entrepreneurs
  • Partnership firms

Tips for a Successful Business Loan Application

  • Understand your business needs
  • Have a business plan ready
  • Check your credit score and history
  • 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 are the different types of Business Loan available?

Poonawalla Fincorp offers various types of Business Loan, including MSME loan, working capital loan, Business Loan for retail shops, women entrepreneurs and sole proprietorships.

Can I get a Business Loan in Vellore without collateral?

Yes, Poonawalla Fincorp offers collateral-free Business Loan to expand your venture.

What are some useful tips for applying for a Business Loan?

To ensure a smooth Business Loan application process, follow these strategies:

  • Outline a strong business plan
  • Maintain a credit score of 750 and above
  • Understand the eligibility criteria
  • Submit the necessary documents