Business Loan Interest Rate

IIFL SME 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 26% p.a.
Processing feeUpto 3% of the loan amount
Cheque / ACH Return Charges₹ 550/- + GST per Instance
Cheque / ACH Swapping Charges No-dues Certificate₹ 500/- + GST per Instance
Duplicate Statement / Duplicate Amortisation / Repayment Schedule₹ 200/- + GST per Instance
Penal Interest2% per month subject to a Minimum Amount of ` 200/- + GST
Prepayment / Foreclosure (13-24 months of EMI Repayment)7% + GST*
Prepayment / Foreclosure (25-36 months of EMI Repayment)5% + GST*
Prepayment / Foreclosure (more than 36 months of EMI Repayment)3% + 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: *Prepayment in part or full not allowed prior to payment of 12 EMI. 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

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