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

Get a Quick Business Loan in Visakhapatnam

Visakhapatnam, also known as Vizag, is a vibrant coastal city located in Andhra Pradesh, India. With its strategic location, bustling port, and diverse industries, Visakhapatnam offers tremendous opportunities for business growth and development. Capitalise on these opportunities with a Business Loan in Vishakhapatnam from Poonawalla Fincorp and fulfil all your business requirements.

Whether you need funds for business expansion, inventory purchase, hiring staff, or any other needs, Poonawalla Fincorp offers tailored loans to support your growth. Get a collateral-free loan amount of up to ₹75 Lakh at competitive interest rate with minimal documentation, quick approval, and favourable loan terms. Apply now!

Why Choose Poonawalla Fincorp

High Loan Amount High Loan
Amount
Collateral-free loan
Competitive Interest Rates Competitive
Interest Rate
Minimal Documentation Minimal
Documentation
Swift Disbursal Quick
Approval
Flexible Loan Terms Flexible
Repayment Tenure

Business Loan EMI Calculator

Calculate your monthly repayments easily with our EMI calculator. Enter the loan amount, tenure, and interest rate to estimate your monthly outgo. Try it 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 Visakhapatnam

Fulfil our simple eligibility criteria to qualify:

  • 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 Vishakhapatnam

Submit the mandatory documents while applying:

  • 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 Visakhapatnam

We offer Business Loan at attractive 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 Vishakhapatnam

  • Financing working capital needs
  • Purchasing fixed assets
  • Restocking and adding inventory
  • Renovating business premises
  • Funding marketing programs

Who Can Get a Business Loan in Vishakhapatnam

  • MSMEs
  • Women entrepreneurs
  • Sole proprietor
  • Partnership firms
  • Manufacturers
  • Retailers

Tips for a Successful Business Loan Application

  • Know your business needs
  • Review credit history
  • Prepare a detailed business plan
  • Organize your financial statements

Poonawalla Fincorp Branch Address in Visakhapatnam

Poonawalla Fincorp Limited

Address: Door No.10-5-/22/2/3, 2nd Floor, Varsha Tower, Waltair Main Road, Opp to WNS building, Vishakhapatnam, Andhra Pradesh-530003

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 are the exclusive benefits of availing of a Business Loan?

The benefits include:

  • Quick approval
  • Minimal documentation
  • Higher loan amount
  • Online application
What is a Business Loan foreclosure?

A loan foreclosure simply means that the borrower is making a single lump-sum payment before the end of the loan tenure. Foreclosure can be a smart option for a business owner when there are enough resources to do so.

Do I need to visit physically to avail of a Business Loan?

You can either visit our nearest branch physically or apply online. To apply online:

Step 1: Click on ‘Apply Now’.

Step 2: Fill out the application form.

Step 3: Upload all the necessary documents.

Upon verification, the loan amount will be credited to your bank account.

What is the loan processing fee associated with a Business Loan?

Poonawalla Fincorp charges a nominal fee of up to 3.5%.