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₹15 Lakh Business 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 an online process, the loan available on Bajaj Markets is an ideal option. 

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It enables you to get the monetary backing you need to focus on growing your business without straining your finances.

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Your Business Loan EMI
₹ 51,266
Total Interest Amount

₹ 345,592

Principal Amount

₹ 15,00,000

Total Payable Amount

₹ 18,45,592

Loan Amount i
Interest Rate
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Max value reached
Tenure
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Instant Approval

You can also make instant comparisons between loan offers from over 10+ Business loan providers on Bajaj Markets.

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You can also check the total interest amount and payable amount for better financial planning and budgeting.

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Overview

Here is an overview of the monthly repayment structure:

  • For a 36-month tenure at an interest rate of 14%, the monthly EMI for a ₹15 Lakh loan will be approximately ₹51,266. The total interest payment will be around ₹3,45,592.

  • A 96-month tenure at an interest rate of 14% results in a monthly EMI of about ₹26,057. However, the total interest payable increases to around ₹10,01,496.

Opting for a shorter term reduces interest costs. A longer tenure offers more manageable EMIs. Business loans also come with flexible repayment options, fast disbursal, and minimal documentation.

Compare ₹15 Lakh Business Loan Interest Rates by Various NBFCs

Check out multiple lenders offering ₹15 Lakh business loans on Bajaj Markets. Compare interest rates, repayment tenures, and other details in the table below:

Available Offerings

Starting Interest Rate

Maximum Amount

Maximum Tenure

Bajaj Finance Limited Business Loan

14% p.a.

₹80 Lakhs

96 months

L&T Finance Business Loan

15.50%

₹75 Lakhs

60 months

IIFL Finance Business Loan

16.50% p.a.

₹30 Lakhs

48 months

FlexiLoans Business Loan

18% p.a.

₹50 Lakhs

42 months

KreditBee Business Loan

18% p.a.

₹30 Lakhs

36 months

Lendingkart Business Loan

19.20% p.a.

₹35 Lakhs

36 months

Protium Business Loan

20.5% p.a.

₹35 Lakhs

36 months

Indifi Business Loan

22% p.a.

₹30 Lakhs

36 months

UGRO Capital Business Loan

24% p.a.

₹50 Lakhs

72 months

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

₹15 Lakh Business Loan EMI for Different Tenures

The repayment tenure directly affects your EMI and the total interest payable. For instance, if you opt for a ₹15 Lakh business loan at 14% p.a., your monthly instalments will vary depending on the selected tenure. 

Tenure

EMI Amount

Interest Rate

Total Interest Payable

Total Repayment Cost

₹15 Lakh Loan for 12 Months

₹1,34,681

14%

₹1,16,168

₹16,16,168

₹15 Lakh Loan for 36 Months

₹51,266

14%

₹3,45,592

₹18,45,592

₹15 Lakh Loan for 60 Months

₹34,902

14%

₹5,94,143

₹20,94,143

₹15 Lakh Loan for 96 Months

₹26,057

14%

₹10,01,496

₹25,01,496

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

₹15 Lakh Business Loan: Fees and Charges

Here are the fees and charges applicable for a ₹15 Lakh business loan. Compare the offerings of different lenders to choose the most cost-effective option for your business needs.

Charges

Details

Processing Fee

Up to 6% of the loan amount 

Foreclosure Charges

10% + GST

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

How to Calculate Your Business Loan EMI

For instance, you borrow ₹5 Lakhs at an annual interest rate of 18% for 2 years (i.e., 24 months). Calculating your business loan EMI involves applying a standard formula. This formula considers the loan amount, monthly interest rate, and loan tenure. The formula is:

EMI = P × R × (1 + R)n / [(1 + R)n – 1] 

where:

  • P = Principal loan amount

  • R = Monthly interest rate (Annual interest rate / 12 / 100)

  • N = Loan tenure in months

The monthly EMI would be ₹24,962. You can also skip the manual method by using a reliable online business EMI calculator for quick results. 

Eligibility and Documents for a Business Loan of ₹15 Lakh

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

  1. Age: Above 21 years

  2. Credit Score: Maintain a CIBIL score of 700 or above

  3. Nationality: Indian citizen with a good credit history (strong CIBIL score of 700 and above)

  4. Occupation: Self-employed, professionals, and non-professionals such as traders, manufacturers, etc.

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

  6. Business Experience: Minimum 1-3 years in the current business operation.

  7. Financial Standing: Annual income exceeding ₹1 Lakh as per Income Tax Returns (ITR).

Please note that the eligibility requirements may differ across lenders. Make sure to review the full criteria before applying to improve your chances of approval. You must also provide the following documents when applying for a ₹15 Lakh business loan:

Identity Proof (Any one)

Address Proof (Any one)

Income Proof (Any one)

Business Proof (Any one)

PAN card

Aadhaar card

Bank statements from the last 6 months

Sole Proprietorship Declaration

Aadhaar card

Passport

ITR (Income Tax Return), along with certified documents

Partnership Deed (certified copy)

Passport

Utility bills

Profit and Loss (P&L) statements and balance sheets from the past 2 years

Memorandum and Articles of Association (certified copy)

Driving licence

Lease Agreement

 

 

Voter ID

 

 

 

How to Apply for a Business Loan of ₹15 Lakh

Applying for a business loan of ₹15 lakh is simple and fully online through the Bajaj Markets website or app. You can follow these quick steps to get started: 

  1. Click the ‘Check Eligibility’ button on this page

  2. Enter your personal details in the online form

  3. Select the loan amount and repayment tenure

  4. Submit the form for verification

With minimal documentation and a hassle-free digital process, getting the funds you need is quick and convenient. 

₹15 Lakhs Business Loan - Monthly Payment Plan

Find below the amortisation schedule for a ₹15 Lakh business loan at a 14% interest rate for a tenure of 6 months:

Month

Payable Amount

Principal 

Interest

Balance

Month 1

₹2,60,307

₹2,42,807

₹17,500

₹12,57,193

Month 2

₹2,60,307

₹2,45,640

₹14,667

₹10,11,553

Month 3

₹2,60,307

₹2,48,506

₹11,801

₹7,63,048

Month 4

₹2,60,307

₹2,51,405

₹8,902

₹5,11,643

Month 5

₹2,60,307

₹2,54,338

₹5,969

₹2,57,305

Month 6

₹2,60,307

₹2,57,305

₹3,002

₹0

Disclaimer: These are approximate values and are meant for illustration only. For actual EMI values, reach out to the lender.

Impact of Pre and Post-Business Loan Approval on CIBIL Score

Your CIBIL score indicates how reliable you are as a borrower. Business loans can influence your credit score and financial standing in the following ways:

  • Pre-approval Impact

When you apply for a business loan, the lender initiates a hard enquiry to assess your credit report. This may lead to a slight, temporary dip in your CIBIL score due to the credit check.

  • Post-repayment Impact

Timely loan repayments demonstrate strong credit discipline and help enhance your CIBIL score. This signals to lenders that you manage debt well, making you eligible for better loan terms in the future. 

Uses of a ₹15 Lakh Business Loan

A ₹15 Lakh business loan can provide a significant boost to your enterprise. Whether you need to stabilise operations or expand strategically, here are some practical uses for the funds:

  • Expand Business Footprint

Open new locations, enter untapped markets, or scale operations to meet growing demand. This can lead to increased market share and long-term revenue growth.

  • Upgrade Infrastructure

Renovate your workspace or invest in modern equipment to improve efficiency and capacity. A better work environment boosts employee productivity and customer satisfaction.

  • Maintain Inventory Flow

Ensure consistent stock levels by purchasing raw materials or inventory ahead of seasonal demand. Prevents lost sales and enhances the customer experience during peak periods.

  • Strengthen Marketing Efforts

Invest in digital and offline marketing to improve brand visibility and generate leads. Effective campaigns can directly translate into increased sales and customer retention.

  • Improve Cash Flow

Bridge temporary gaps in income and maintain smooth daily operations.  Helps ensure timely payments to vendors, staff, and other obligations.

  • Invest in Talent

Hire skilled staff or provide advanced training to enhance the capabilities of your existing team. Stronger teams contribute to innovation, efficiency, and business growth. 

Other Instant Business Loan Options

Frequently Asked Questions

15 Lakh Business Loan

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

A business loan allows 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 a ₹15 Lakh business loan through a simple online application process.

Yes, many lenders offer unsecured business loans of ₹15 Lakhs. The loan approval depends on factors like your credit score, income, and business performance.

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

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.

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Quick Links

Instant Business Loan | Calculate Business Loan EMI | E Way Bill for Job Work | SBI E Mudra Loan | Business Loan for Coaching Centres | Bajaj Finance Business Loan | Bandhan Bank Business Loan | Check CIBIL Score Online |
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