Learn how FlexiLoans Business Loan interest rates are calculated, factors influencing them, and the application process.
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FlexiLoans provides a reliable financing solution tailored to meet the needs of growing businesses. With interest rates starting at 18% p.a., it offers competitive terms that ensure affordability. Borrowers can access funding of up to ₹50 Lakhs, making it suitable for diverse financial requirements. The maximum tenure of 3 years adds flexibility to repayments, allowing businesses to manage cash flow effectively. With quick approvals and a straightforward application process, FlexiLoans aims to simplify business financing without unnecessary complexities.
Here are the key details of FlexiLoans Business Loan interest rates and charges to help you understand the costs associated with your loan:
Charge Type |
Details |
Interest Rate |
Starts at 18% per annum |
Processing Fee |
Maximum of 2.5% of the loan amount |
Disclaimer: The charges mentioned above are for informational purposes only and are subject to change.
Understanding how interest is calculated on a FlexiLoans business loan is crucial for effective financial planning. With interest rates starting at 18% p.a., a maximum loan amount of ₹50 Lakhs, and a tenure of up to 3 years, you can estimate the repayment schedule effectively.
Avoid the risk of manual calculation errors by using the online business loan EMI calculator on Bajaj Markets. This tool provides accurate EMI results and a detailed amortisation schedule, simplifying repayment planning and ensuring error-free calculations.
For instance, if you borrow ₹10 Lakhs for 3 years at 18% p.a., your monthly instalments (EMIs) would be approximately ₹36,152.4. These payments include both principal and interest components, with the outstanding balance reducing progressively throughout the tenure.
Year |
Principal Paid |
Interest Paid |
Outstanding Balance |
1st Year |
₹2,75,852 |
₹1,57,976 |
₹7,24,147 |
2nd Year |
₹3,29,815 |
₹1,04,014 |
₹3,94,332 |
3rd Year |
₹3,94,332 |
₹39,497 |
₹0 |
Disclaimer: The values in the table are for illustrative purposes only and may vary based on actual loan terms and calculations.
Several factors influence the interest rate on a business loan. Understanding these can help borrowers evaluate loan terms effectively and make informed financial decisions.
Credit Score
A good credit score reflects the borrower's reliability and may result in reduced interest rates. Lenders evaluate creditworthiness to gauge the likelihood of repayment.
Business Financials
The financial health of the business, including revenue, profit margins, and cash flow stability, plays a significant role in deciding the interest rate.
Loan Amount
The requested loan amount can impact the interest rate. Larger loan amounts may have stricter terms, whereas smaller amounts could be offered at higher rates to offset risk.
Loan Tenure
The duration of the loan affects the interest rate. Shorter tenures might have higher EMIs but lower total interest outgo, while longer tenures could come with slightly higher rates.
Industry and Business Type
The nature of the business and its industry risk profile influence interest rates. Businesses in stable sectors may receive better rates than those in high-risk industries.
Collateral Offered
Secured loans backed by collateral typically have lower interest rates compared to unsecured loans, as they reduce the lender’s risk.
Market Conditions
Broader economic factors, such as inflation rates, monetary policies, and lender competition, also affect interest rates.
By being aware of these factors, borrowers can better position themselves for favourable terms and align their loan selection with their business goals.
Compare FlexiLoans 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 |
|
Credit Saison |
22% p.a. |
₹10 Lakhs |
36 months |
|
UGRO Capital |
24% p.a. |
₹50 Lakhs |
72 months |
|
How to Apply for a FlexiLoans Business Loan on Bajaj Markets
Applying for a business loan is a simple and streamlined process. Follow these steps to get started:
-
Click on the ‘Check Eligibility’ option to begin the application process
-
Enter your personal and income-related details accurately
-
From the list of lenders, select your FlexiLoans
-
Specify the loan amount and tenure that suit your business needs
-
Review all the information provided and submit your application
-
Once submitted, your application will undergo verification, and the lender will contact you to complete the remaining formalities.
Frequently Asked Questions
What are the foreclosure charges on FlexiLoans Business Loan?
Foreclosure charges are fees for repaying the loan in full before the tenure ends. These charges vary by lender. Review your loan agreement or consult FlexiLoans for details.
What does bounce charge mean on FlexiLoans Business Loan?
A bounce charge is a penalty for missed payments due to insufficient funds. Check your loan agreement or contact FlexiLoans for the exact amount.
What is the minimum and maximum interest rate on FlexiLoans business loans?
FlexiLoans business loan interest rates start at 18% p.a. The maximum rate depends on factors like loan amount, tenure, and credit profile. Check directly with FlexiLoans for details.
Does my credit score affect the interest rate on a FlexiLoans Business Loan?
Yes, your credit score impacts the interest rate. A higher score can result in lower rates, while a lower score may increase them. A good credit score improves your chances of better terms.
