Rates and Charges

IIFL Finance ensures that your finance needs are met promptly and that you can focus on business growth without worrying about day-to-day business expenses.
IIFL business loan is available at attractive rates and reasonable charges.
  • Rate of Interest:

    16% to 30% per annum

     

  • Loan Processing Charges:

    Upto 3% of Sanctioned Amount + GST

     

  • Cheque / ACH Return Charges:

    500/ + GST per instance

     

  • Cheque / ACH Swapping Charges Duplicate No-dues Certificate:

    500/ + GST per instance

     

  • Duplicate Statement / Amortization / Repayment Schedule/ Agreement/ Sanction Letter

    200/ + GST per instance

     

  • Penal Interest

    24% per annum

     

  • Prepayment / Foreclosure (01-06 months of EMI Repayment):

    7% + GST*(approval required)

     

  • Prepayment / Foreclosure (07-24 months of EMI Repayment):

    5% + GST*

     

  • Prepayment / Foreclosure (25-36 months of EMI Repayment):

    5% + GST*

     

  • Prepayment / Foreclosure (more than 24 months of EMI Repayment)

    4% + GST*

     

  • Loan Cancellation
     
    Interest will be charged for the interim period between date of disbursement and date of loan cancellation

     

  • Documentation Charges

    At actuals

     

  • Security Creation and Perfection Charges

    At actuals

     

  • Property Valuation Charges

    At actuals

     

  • Inspection Charges

    At actuals

     

  • Stamp Duty Charges

    At actuals

     

  • Legal Collection & Incidental Charges

    At actuals

     

  • Any other charges from case to case basis

    At actuals

     

Note: Part payment allowed up to 25% of principal outstanding. It is allowed only once in a year and twice during the entire loan tenure. Government taxes and other levies as applicable, would be charged additionally. These charges are in effect from June 15, 2020.

FAQs

Yes, you can choose to repay your loan anytime after 6 months of taking the loan with applicable foreclosure charges.

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We offer a fixed rate of interest.

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