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Looking to grow your business or manage daily operations effortlessly? With a ₹1 Lakh Business Loan available on Bajaj Markets, you can access quick funding with minimal hassle. Apply now and take advantage of flexible repayment options, competitive interest rates, and a seamless online process designed to suit your financial needs.

Calculate the EMI for ₹1 Lakh Business Loan

Loan Amount
Tenure
Months
Rate of Interest
Business Loan
Your Monthly Business Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
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Year EMI Principal Interest Balance

₹1 Lakh Business Loan Interest Rates, Fees, & Charges

Some essential fees and charges associated with a business loan of ₹1 Lakh are as follows:

Lender

Starting Interest Rate (p.a)

Associated Charges

Aditya Birla Finance

22.00%

  • Processing fee: 3% to 4% + GST

  • Foreclosure charges: 4% + GST (post 12 months)

  • Late payment fee: 3% of the overdue amount per month

Ambit Finvest

20.00%

  • Processing fee: Up to 2% of the loan amount

AYE Finance

29.50%

  • Processing fee: 2.5% of the loan amount + GST

  • Foreclosure charges: 7% of the loan amount + GST

Bajaj Finance

14.00%

  • Processing fee: Up to 3.54% (Inclusive of applicable taxes) of the loan amount

  • Foreclosure charges: Up to 4.75% of the prepaid amount + GST

Credit Saison

22.00%

  • Processing fee: 2.5% onwards

  • Foreclosure charge: 5% of the outstanding principal amount

IIFL Finance

16.50%

  • Processing fee: 2% to 6% of the loan amount + GST

  • Convenience fee: ₹500

InCred

24.00%

  • Processing fee: 2% to 5% of the loan amount

Indifi

22.00%

  • Processing fee: Up to 3% of the loan amount + GST

  • Foreclosure charges: 4% of principal outstanding 

Lendingkart

19.20%

  • Processing fee: Up to 3% of the loan amount

Protium

20.50%

  • Processing fee: 1% - 6%

  • Foreclosure charges: 4% onwards

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

EMI for a Business Loan of ₹1 Lakh

Here is a simple example to help you understand how the EMI is calculated and the way in which it helps service your loan. Let’s say you took a loan of ₹1 Lakh at an interest rate of 14% p.a. for a period of 36 months. The EMI for this loan would amount to ₹3,417.76.

The following table shows a complete breakdown of your instalments and how they contribute towards the repayment of your loan:

Tenure

Principal Paid

Interest Charges

Outstanding Dues

1st Year

₹28,815

₹12,197

₹71,184

2nd Year

₹33,118

₹7,894

₹38,065

3rd Year

₹38,065

₹2,948

₹0

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Remember that calculating EMIs manually can be both tedious and error-prone. To save time and ensure accuracy, consider using the business loan EMI calculator available on Bajaj Markets.

Eligibility Criteria

The set eligibility criteria may differ from one lender to another. However, here are some common requirements you may be asked to fulfil to qualify for a business loan of ₹1 Lakh:

  • Age: 21–60 years

  • Citizenship: Indian with a good CIBIL score

  • Eligibility: Self-employed professional/non-professionals (e.g., traders, manufacturers)

  • Business Type: Partnerships, LLPs, and private limited companies

  • Experience: Minimum 1 year in current business 

  • Income: Annual income must be at least ₹1.5 Lakhs per annum, as per ITR

Documents Required

Some essential documents you may be asked to submit when applying for a business loan of ₹1 Lakhs are as follows:

  • Identity Proof: Any one of the following

    • PAN card

    • Aadhaar card

    • Passport

    • Driving licence

    • Voter ID

  • Address Proof: Any one of the following

    • Aadhaar card

    • Passport

    • Utility bills

    • Lease agreement

  • Income Proof: 

    • Bank statement for the last 6 months

    • ITR in addition to certified copies with details, such as income computation

    • Profit and Loss (P&L) statement and balance sheet for the last 2 years

  • Business Proof: As applicable

    • Sole Proprietorship Declaration 

    • Authenticated copy of Partnership Deed

    • Certified copy of Memorandum and Articles of Association

How to Apply for a Business Loan of ₹1 Lakh

Follow these simple steps to apply for the loan on Bajaj Markets:

  • Click on the ‘Check Eligibility’ option on this page

  • Provide your personal and business details

  • Enter your preferred loan amount and tenure

  • Submit the application form

business loan

Frequently Asked Questions

What are the benefits of taking a ₹1 Lakh business loan?

A ₹1 Lakh loan for business can help cover working capital needs, purchase inventory, or fund small-scale business expansions without dipping into personal savings.

Can I get a ₹1 Lakh loan for a business without collateral?

Yes, many lenders in India offer unsecured business loans of ₹1 Lakh based on your creditworthiness and financial stability.

What is the repayment tenure for ₹1 Lakh business loan?

Repayment tenures for a ₹1 Lakh business loan typically range from 12 to 96 months, depending on the lender and your repayment capacity.

Can I prepay a business loan of ₹1 Lakh?

Yes, most lenders allow prepayment of a ₹1 Lakh business loan, though some may charge a prepayment penalty.

What happens if I default on a business loan of 1 Lakh?

Defaulting on a ₹1 Lakh business loan could harm your credit score and result in additional penalties and interest charges. In severe cases it may also lead to legal action.

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