A business loan of ₹15 Lakhs can help you meet various needs. This includes scaling up your business, upgrading equipment, or ensuring smooth daily operations. 

With low interest rates, flexible repayment options, and a seamless online application process, the loan, available on Bajaj Markets, is an ideal option. It enables you to get the monetary backing you need to focus on growing your business without straining your finances.

Calculate EMI for ₹15 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

₹15 Lakh Business Loan: Interest Rates, Fees, and Charges

Here are the interest rates and charges applicable to a ₹15 Lakh business loan:

Lender

Starting Interest Rate (p.a)

Other Charges

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

IIFL Finance

16.50%

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

  • Convenience fee: ₹500

FlexiLoans

18.00%

  • Processing fee: Up to 2.5% of the loan amount

KreditBee

18.00%

  • Processing fee: 3% to 4.25%

  • Foreclosure charges: Nil

  • Late payment fee: 0.1% per day on the default amount

Lendingkart

19.20%

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

Protium

20.50%

  • Processing fee: 1% - 6%

  • Foreclosure charges: 4% onwards

Indifi

22.00%

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

  • Foreclosure charges: 4% of principal outstanding 

U GRO Capital

24.00%

  • Processing fee: Nil

  • Foreclosure charges: 4% onwards

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

EMI Calculation for a Business Loan of ₹15 Lakhs

Let’s explore the monthly instalments for a ₹15 Lakh Business Loan. The EMI depends on factors such as the loan amount, interest rate, and repayment tenure.

For instance, if you take a ₹15 Lakh loan at a 14% annual interest rate with a repayment tenure of 60 months, your estimated EMI would be approximately ₹34,902.

Tenure

Principal Paid

Interest Charges

Outstanding Dues

1st Year

₹2,22,763

₹1,96,065

₹12,77,236

2nd Year

₹2,56,031

₹1,62,797

₹10,21,205

3rd Year

₹2,94,268

₹1,24,561

₹7,26,937

4th Year

₹3,38,214

₹80,614

₹3,88,724

5th Year

₹3,88,724

₹30,105

₹0

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

Manual EMI calculations can be both time-consuming and prone to errors. For quick and accurate results, use the business loan EMI calculator on Bajaj Markets.

Eligibility Criteria

The eligibility criteria may vary depending on the lender. However, the general requirements are as follows:

  • Age: 21 to 60 years

  • Nationality: Indian citizen with a good credit history (strong CIBIL score)

  • Occupation: Self-employed individuals (excluding professionals) such as traders, manufacturers, etc.

  • Business Structure: Partnerships, LLPs, and Private Limited Companies are eligible.

  • Business Experience: Minimum 1 year in the current business and a total of 5 years of self-employment experience.

  • Financial Standing: Annual income exceeding ₹1.5 Lakhs as per Income Tax Returns (ITR).

Documents Required

You must provide the following documents when applying for a ₹15 Lakh Business Loan:

Identity Proof (Any one):

  • PAN card

  • Aadhaar card

  • Passport

  • Driving licence

  • Voter ID

Address Proof (Any one):

  • Aadhaar card

  • Passport

  • Utility bills

  • Lease agreement

Income Proof:

  • Bank statement for the last six months

  • Income Tax Returns (ITR) with certified income computation details

  • Profit and Loss (P&L) statement and balance sheet for the previous two years

Business Proof: As applicable 

  • Sole Proprietorship Declaration 

  • Partnership Deed (certified copy)

  • Memorandum and Articles of Association (certified copy)

You may also be asked to submit some additional documents by the lender. Be sure to get a complete list of the paperwork required beforehand to ensure a seamless application process and avoid any delays.

How to Apply for a Business Loan of ₹15 Lakhs

Follow these easy steps to apply for a ₹15 Lakh Business Loan on Bajaj Markets:

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

  • Fill in your personal and business details

  • Enter your preferred loan amount and repayment tenure

  • Cross check the details and submit the online application form

Following this, the lender will verify your application and contact you for further processing of your loan.

Frequently Asked Questions

What are the benefits of taking a ₹15 Lakh Business Loan?

A business loan of ₹15 Lakhs enables you to quickly access the required funds at low interest rates. You can also enjoy flexible repayment options, depending on your eligibility and the lender’s policies. You can apply for the loan through a simple online application process.

Can I get a ₹15 Lakh loan for business without collateral?

Yes, many lenders offer unsecured business loans of ₹15 Lakhs based on your creditworthiness, income, and business performance.

What is the repayment tenure for a ₹15 Lakh Business Loan?

The loan’s repayment tenures typically range from 12 to 96 months. This depends on the lender’s policies and your eligibility requirement.

How long does it take to get a business loan of ₹15 Lakhs approved?

The approval time usually varies depending on the lender you wish to get the loan from. However, it is usually completed within 24 to 72 hours if all documents and eligibility criteria are met. This is subject to the lender’s discretion.

✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Check Eligibility
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