Get Business Loan of ₹20 Lakh with Quick Approval
Poonawalla Fincorp’s ₹20 lakh Business Loan caters to your various financial requirements related to business. Within just a few clicks, you can apply for a Business Loan of ₹20 Lakh with a competitive interest rate. Our entrepreneur-focused Business Loan helps you tackle any financial requirements related to working capital, expanding business operations, purchasing machinery or inventory, or consolidating your existing high-interest loans.
₹20 Lakh Business Loan EMI Calculator
-
EMI Amount = *
Interest Rate and Charges for Business Loan
Our interest rate for a Business Loan starts at 15% p.a. without any hidden charges. Please refer to the table below for more details.
| Rate of Interest | 15% to 28% p.a.* |
| Processing Fees | Up to 3% plus applicable taxes |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Default Charges | 24% per annum |
| Loan Amount | ₹5 Lakh to ₹75 Lakh |
| Lowest EMI per Month | Starting from ₹2,783* per Lakh for 48 months |
| Loan Tenure | 6 to 48 months |
| Prepayment/Foreclosure Charges |
|
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
₹20 Lakh Business Loan EMI for up to 3 Years
If you wish to get a ₹20 Lakh Business Loan for four years, you can take advantage of our competitive interest rates. Our collateral-free Business Loans help you manage your financial needs without hassle. Before applying for the loan, you can calculate your EMIs. The table below shows your ₹20 Lakh Business Loan EMIs for four years.
| Tenure | Approximate EMI at 15% Interest Rate |
| 2 years | ₹96,973/month |
| 3 years | ₹69,331/month |
₹20 Lakh Business Loan Eligibility Criteria
At Poonawalla Fincorp, we have easy to meet eligibility requirements for a Business Loan are specially designed to help you save time and get quick approval. Our eligibility criteria include:
Age
Annual turnover
Business vintage
- Age: Between 24 and 65 years.
- Annual turnover: Your enterprise must have a minimum annual turnover of ₹6 Lakh.
- Business vintage: Your business must have been in operation for at least two years since its registration date.
Documents Required for ₹20 Lakh Business Loan
We have minimal documentation requirement for ₹20 Lakh Business Loan. Our document requirements include:
-
KYC documents
-
Financial Documents
-
Business Address Proof
- KYC documents: Government-issued ID such as PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
- Financial Documents: Rent agreement, utility bills, or passport.
- Business Address Proof: Bank statement of the past six months.
Please note: This list is indicative, and the actual list of documents will depend on your profile, requirement and Poonawalla Fincorp’s policy at the time of application.
Features and Benefits for ₹20 Lakh Business Loan
Poonawalla Fincorp’s Business Loan offers various exciting features focused on specific business financial requirements such as:
-
Business Loan without any security or collateral
-
Minimal documentation
-
Instant approval and disbursal
-
Competitive Business Loan interest rate
-
Sizeble sanction up to ₹75 Lakh
-
Hassle-free, online application provision
-
Flexible tenure of up to 48 months
-
Fulfil urgent Business Loan requirements
Apply for ₹20 Lakh Business Loan within 5 Minutes
Apply
Online
Apply Online
Click on Apply Now and enter your contact details.
Business
Details
Business Details
Enter your annual business turnover and other business details.
Verification
Verification
The application will then proceed for verification and assessment
Frequently Asked Questions
You can get ₹20 lakh Business Loan from Poonawalla Fincorp once you meet minimal eligibility requirements and submit minimal documentation.
The EMI for ₹20 lakh Business Loan is ₹180,517.
You can apply for ₹20 lakh Business Loan, if you fall under the below eligibility criteria:
- Age: Between 24 and 65 years.
- Annual turnover: Your enterprise must have a minimum annual turnover of ₹6 Lakh.
- Business vintage: Your business must have been in operation for at least two years since its registration date.
*Terms & Conditions Apply
