Business Loan Interest Rate

IIFL Business Loans ensure that your finance needs are met promptly and that your can focus on business growth without worrying for day-to-day business expense needs.

IIFL SME Business Loans are available at attractive rates and the documentation requirement is minimum. Here’s a glance at the charges levied upon your SME Loan:

ParticularsCharges
Rate of Interest16 to 30% p.a.
Loan Processing ChargesUpto 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 / Amortisation / Repayment Schedule/ Agreement/ Sanction Letter₹ 200/- + GST per instance
Penal Interest24% p.a.
Prepayment / Foreclosure (01-06 months of EMI Repayment)7% + GST* (Approval required)
Prepayment / Foreclosure (07-24 months of EMI Repayment)5% + GST*
Prepayment / Foreclosure (more than 24 months of EMI Repayment)4% + GST*
Loan CancellationInterest will be charged for the Interim period between date of Disbursement & date of loan cancellation
Documentation ChargesAt Actuals
Security Creation and Perfection ChargesAt Actuals
Property Valuation ChargesAt Actuals
Inspection ChargesAt Actuals
Stamp Duty ChargesAt Actuals
Legal Collection & Incidental ChargesAt Actuals
Any other charges from case to case basisAt Actuals

Note: * Part Payment allowed up to 25% of Principal Outstanding. It is allowed only once in a year and twice during Loan tenure. Government Taxes and other levies as applicable, would be charged additionally. These charges are in effect from June 15, 2020.

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