Aditya Birla Finance Limited (ABFL) offers the UDYOG PLUS Business Loan to help small and medium-sized enterprises (SMEs) meet their financial needs. With loans of up to ₹10 Lakhs, UDYOG PLUS is designed to assist businesses in managing working capital, purchasing equipment, or expanding operations. These loans come with interest rates starting from 22% p.a. and repayment tenures of up to 36 months.
Here are the ABFL UDYOG PLUS Business Loan interest rates and other charges you need to know about before applying:
Parameter |
Details |
Interest Rate |
22% to 30% p.a. |
Processing Fee |
3% to 4% + GST |
Foreclosure Charges |
4% + GST (post 12 months) |
Late Payment Fee |
3% of the overdue amount per month |
*Disclaimer: The rates are subject to change at the lender's discretion.
Features and Benefits
High Loan Amount
Access funds of up to ₹10 Lakhs to meet your business's financial requirements.
Flexible Repayment Tenures
Repay the loan conveniently with tenures ranging up to 36 months.
Low Interest Rates
Get competitive interest rates starting from 22% p.a.
Zero Collateral
Secure high loan amounts without pledging any personal or business assets.
Quick Disbursal
Receive the loan amount within 1 to 3 business days after approval.
Easy Documentation
Enjoy a hassle-free application process with minimal paperwork.
Before applying for the ABFL UDYOG PLUS Business Loan, ensure you meet the following criteria:
You must have a CIBIL score of 700 or more
Your age must fall under the bracket of 23 to 62 years
You must be residing in an area serviceable by ABFL
Your business must have a turnover of at least ₹5 Lakhs in the last 6 months
Alongside fulfilling these requirements, you may also be asked to furnish the following documents:
1. Udyam Certificate (mandatory)
2. Ownership proof:
Index copy
Sales deed
Electricity bill
Gas bill
3. KYC document:
PAN card
Aadhaar card
Selfie of applicant and co-applicant
4. Business proof:
GST certificate
Shop Act (Form B is acceptable)
Trade licences
Income tax return
Food licences
Drug licences
Import and export trade certificate
ITEA certificate if engaged in the tour and travel industry
5. Business vintage proof:
Current account under the firm’s name
GST certificate
Shop Act (Form B is acceptable)
Trade licences
Income tax return
Food licences
Drug licences
Follow these steps to apply for the UDYOG PLUS Business Loan online on Bajaj Markets:
Click on the ‘CHECK ELIGIBILITY’ button on the Bajaj Markets website
Fill in your personal and business details in the application form
Select ‘Aditya Birla Finance’ from the list of lenders provided
Choose your preferred loan amount and repayment tenure
Submit the application form
Once the application is submitted, a representative from ABFL will contact you for further processing.
Frequently Asked Questions
How much can I borrow with the UDYOG PLUS Business Loan?
You can borrow up to ₹10 Lakhs with the UDYOG PLUS Business Loan, depending on your eligibility.
What is the interest rate for the UDYOG PLUS Business Loan?
The interest rate ranges from 22% to 30% p.a., based on your eligibility and ABFL’s policies.
What can I use the UDYOG PLUS Business Loan for?
The loan can be used for various business purposes, such as working capital management, purchasing equipment, renovating office spaces, or meeting other operational expenses.
How long does it take for loan disbursal?
The loan amount is disbursed within 1 to 3 business days after the application is approved.
