Need a business loan of ₹15 Lakhs? Check out how to apply for one. Understand the interest rates, processing fees, and how the EMIs will be calculated on your loan.
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.
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% |
|
IIFL Finance |
16.50% |
|
FlexiLoans |
18.00% |
|
KreditBee |
18.00% |
|
Lendingkart |
19.20% |
|
Protium |
20.50% |
|
Indifi |
22.00% |
|
U GRO Capital |
24.00% |
|
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
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.
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.
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.
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.
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.
Yes, many lenders offer unsecured business loans of ₹15 Lakhs based on your creditworthiness, income, and business performance.
The loan’s repayment tenures typically range from 12 to 96 months. This depends on the lender’s policies and your eligibility requirement.
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.