IIFL Finance Business Loan Interest Rates

IIFL Finance Business Loan is available at competitive interest rates starting from 16.50% p.a. on Bajaj Markets. You can enjoy flexible repayment tenures of up to 48 months and borrow a high amount of up to ₹30 Lakhs.

The rate of interest charged on this loan usually depends on multiple factors. These include your credit score, business turnover, and prevailing market conditions. Additional charges like the processing and convenience fees, can impact the overall cost of the loan.

To make an informed decision and minimise costs, it is crucial to check the interest rates and understand the factors influencing them.

Here are the key interest rates, along with loan tenure and loan amount offered by IIFL Finance Business Loan:

*Disclaimer:  The mentioned details are subject to change at the lender’s discretion.

Here are the key details of the fees and charges associated with IIFL Finance Business Loan:

*Disclaimer: The mentioned charges are subject to change at the lender's discretion.

Understanding EMI calculations for business loans is crucial for financial planning. Let's see how the EMI changes with different repayment tenures using an example. Suppose you take a business loan of ₹10 Lakhs at an interest rate of 16.50% p.a. 

Here’s how your EMI would change depending on the repayment tenure:

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

Several factors may impact the interest rates for IIFL Finance Business Loans:

CIBIL Score

Your CIBIL score reflects your financial behaviour and repayment history. A higher score (usually 750 or more) indicates strong creditworthiness and reduces the risk for lenders. As a result, applicants with a high score are more likely to secure a lower rate of interest. Conversely, a lower credit score could lead to higher rates as lenders perceive increased risk.

Loan Amount

The amount you borrow plays a significant role in helping the lenders determine the interest rate charged on your loan. Generally, higher loan amounts come with slightly higher interest rates because the lender takes on more risk. Opting for a loan amount that aligns with your repayment capacity can help you avoid unnecessary costs.

Repayment Tenure

Shorter tenures often come with lower interest rates as it minimises the lender’s exposure to risk. However, these usually lead to higher EMIs. For lower monthly payments, consider opting for a longer tenure. Choose a repayment period which helps you balance affordability and cost-effectiveness.

Business Turnover

Lenders evaluate your business turnover to assess its financial health. A higher turnover indicates steady cash flow, reducing the associated risk for lenders. Businesses with strong financials are often eligible for better interest rates. This makes it easier to secure cost-effective loans.

Repayment History

Consistently repaying existing loan EMIs and dues on time helps build trust with lenders. If you have a strong credit history, various financial institutions may offer lower rates of interest to you. This is because the risk of default is minimal in such cases.

Follow these simple steps to apply for an IIFL Finance Business Loan online:

• Click on 'Check Eligibility'
  

• Provide your personal and employment-related details
  

• Choose 'IIFL Finance' from the list of lenders provided
  

• Select your preferred loan amount and repayment period
  

• Verify the details entered and submit the loan application
  

After this, your application will be verified. The loan provider will contact you to guide you through the following process.