Learn more about Credit Saison Business Loan interest rates, charges, and the easy application process.
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Credit Saison business loans are designed to meet diverse financial needs with competitive interest rates starting at 22% p.a. Borrowers can access funding of up to ₹10 Lakhs, offering the flexibility to manage business expenses efficiently. With a maximum tenure of 3 years, these loans provide convenient repayment options, enabling businesses to maintain steady cash flow while achieving their growth goals.
Here are the details of the Credit Saison Business Loan interest rates and charges to help you understand the associated costs:
Charge Type |
Details |
Interest Rate |
22% p.a. onwards |
Processing Fees |
2.5% onwards |
Preclosure Fees |
5% of the outstanding principal amount |
Disclaimer: The charges provided above are indicative and may vary based on the lender's policies. Please verify the latest details directly with Credit Saison.
Calculating the EMI (Equated Monthly Instalment) for a Credit Saison business loan is crucial for understanding your repayment structure. The EMI includes both principal and interest components, which are distributed over the loan tenure. Here’s how it is calculated using the formula:
EMI Formula
EMI Formula: EMI = [P × R × (1+R)^N] ÷ [(1+R)^N - 1]
Where:
P: The loan amount being borrowed by the applicant
R: The monthly interest rate, calculated as the annual interest rate divided by 12
N: The loan tenure, represented in months
Example Calculation
Let’s calculate the EMI using Credit Saison’s USP details:
Principal Amount (P): ₹10,00,000
Interest Rate (R): 22% p.a. (Monthly Rate = 22 ÷ 12 = 1.833% or 0.01833 in decimal)
Loan Tenure (N): 3 years (36 months)
By applying these figures into the formula:
EMI = [10,00,000 x 0.01833 x (1 x 0.01833)36] / [(1 + 0.01833]36 – 1]
EMI = [10,00,000 x 0.01833 x (2.094)] / [(2.094-1)]
EMI = 3,83,296.2 / 1.094
EMI = ₹35,048.4
The monthly EMI for a ₹10,00,000 loan at 22% p.a. for 3 years is approximately ₹35,048.4.
Save time and eliminate manual errors by using the business loan EMI calculator on Bajaj Markets. This tool delivers accurate results instantly, helping you plan your repayments with ease.
Several factors influence the interest rates on Credit Saison business loans. Understanding these factors can help borrowers make informed decisions and secure better loan terms.
Credit Score
A higher credit score reflects good financial discipline. It often results in more competitive interest rates from lenders.
Business Financial Health
Stable revenue and strong cash flow improve your chances of lower rates. Lenders prefer businesses with a solid financial track record.
Loan Amount
Larger loan amounts may come with stricter terms and slightly higher rates. Smaller amounts could have higher rates due to processing costs.
Loan Tenure
Shorter tenures typically have lower interest rates but higher EMIs. Longer tenures reduce EMIs but may increase total interest paid.
Industry Type
Businesses in high-risk industries may face higher rates. Stable sectors often receive more favourable rates.
Collateral Offered
Providing collateral reduces the lender’s risk and can lower rates. Unsecured loans generally come with higher interest rates.
Economic Factors
Inflation and monetary policies can influence loan rates. Competitive market conditions may also affect the interest offered.
By understanding these factors, borrowers can better prepare their loan applications and position themselves for favourable terms.
Compare Credit Saison Business Loan Interest Rates with Other Partners
|
Our Partners
|
Minimum Interest Rate
|
Maximum Loan Amount
|
Maximum Loan Tenure
|
|
|---|---|---|---|---|
Aditya Birla Finance Limited |
22% p.a. |
₹10 Lakhs |
36 months |
|
Ambit Finvest |
20% p.a. |
₹50 Lakhs |
36 months |
|
AYE Finance |
29.50% p.a. |
₹2 Lakhs |
30 months |
|
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Bajaj Finance Limited |
14% p.a. |
₹30 Lakhs |
96 months |
|
FlexiLoans |
18% p.a. |
₹50 Lakhs |
36 months |
|
IIFL Finance |
16.50% p.a. |
₹30 Lakhs |
48 months |
|
InCred |
24% p.a. |
₹3 Lakhs |
60 months |
|
Indifi |
22% p.a. |
₹30 Lakhs |
36 months |
|
KreditBee |
18% p.a. |
₹30 Lakhs |
36 months |
|
Lendingkart |
19.20% p.a. |
₹35 Lakhs |
36 months |
|
Protium |
20.5% p.a. |
₹35 Lakhs |
36 months |
|
UGRO Capital |
24% p.a. |
₹50 Lakhs |
72 months |
|
Applying for a Credit Saison business loan on Bajaj Markets is quick and straightforward. Follow these simple steps:
Click on the ‘Check Eligibility’ button to start the application process
Enter your personal and business details, including income and turnover
Select Credit Saison from the list of available lenders
Input your desired loan amount and preferred repayment tenure
Review all the provided details carefully and submit your application
Once submitted, your application will be verified by Credit Saison. Upon approval, the funds will be credited to your account promptly, typically within a few days.
Frequently Asked Questions
What are the foreclosure charges on Credit Saison Business Loan?
The foreclosure charges on a Credit Saison Business Loan are 5% of the outstanding principal amount. This applies if you choose to repay the loan before the end of the agreed tenure.
What does bounce charge mean on Credit Saison Business Loan?
A bounce charge is a penalty for missed EMI payments due to insufficient funds or payment issues. It covers administrative costs incurred by the lender.
What is the minimum and maximum interest rate on Credit Saison business loans?
The interest rates for Credit Saison Business Loans start at 22% per annum. The exact rate offered depends on various factors, including the applicant's credit profile and business financials.
Does my credit score affect the interest rate on a Credit Saison Business Loan?
Yes, your credit score significantly influences the interest rate on a Credit Saison Business Loan. A higher credit score may result in more favourable interest rates, as it reflects better creditworthiness.
