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Running a business comes with its own set of challenges, and timely access to funds can help you achieve your goals. Whether you're planning to scale operations, purchase new machinery, or meet working capital needs, a business loan of ₹30 Lakhs can help.

The loan comes with low interest rates, and simple eligibility criteria. Apply for the loan on Bajaj Markets through a 100% digital process, and get the required funds from the comfort of your home or office.

Calculate the EMI for ₹30 Lakh Business Loan

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

₹30 Lakh Business Loan Interest Rates, Fees, and Charges

Here are the interest rates and charges applicable to a ₹30 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 ₹30 Lakhs

Let’s explore the monthly instalments for a ₹30 Lakh business loan. The EMI is influenced by factors like the loan amount, interest rate, and repayment tenure. 

For example, if you take a ₹30 Lakh loan at a 14% annual interest rate with a repayment tenure of 60 months, your estimated EMI would be approximately ₹69,805.

Tenure

Principal Paid

Interest Charges

Outstanding Dues

1st Year

₹4,45, 527

₹3,92,130

₹25,54,473

2nd Year

₹5,12,063

₹3,25,594

₹20,42,410

3rd Year

₹5,88,535

₹2,49,122

₹14,53,875

4th Year

₹6,76,428

₹1,61,229

₹7,77,447

5th Year

₹7,77,447

₹60,210

₹0

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

Calculating EMIs manually can be time-consuming and prone to mistakes. For fast and precise calculations, try the business loan EMI calculator available on Bajaj Markets.

Eligibility Criteria

Here are some of the common requirements you are typically required to fulfil  to qualify for a business loan of ₹30 Lakhs:

  • Eligible Age: 21 to 60 years

  • Citizenship: Must be an Indian resident with a good credit score

  • Target Group: Self-employed non-professionals, including traders and manufacturers

  • Business Structure: Applicable for partnerships, LLPs, and private limited companies

  • Experience Criteria: Minimum of 1 year in the current business and a total of 5 years of work experience

  • Income Requirement: Annual earnings of more than ₹1.5 Lakhs, as stated in the Income Tax Return (ITR)

Do note that the criteria may vary depending on the lender you get the loan from. Be sure to check the complete list of requirements before applying for the loan to avoid rejection.

Documents Required

Below is a checklist of documents typically required for a ₹30 Lakh Business Loan application:

Identity Proof: One of the following

  • PAN Card

  • Aadhaar Card

  • Passport

  • Driving Licence

  • Voter ID

Address Proof: One of the following

  • Aadhaar Card

  • Passport

  • Utility Bills

  • Lease Agreement

Income Proof

  • Bank statements from the last 6 months

  • ITR (Income Tax Return) along with certified documents

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

Business Proof: As applicable

  • Sole Proprietorship Declaration

  • Partnership Deed (certified copy)

  • Memorandum and Articles of Association (certified copy)

Lenders may ask you to submit some additional documents when applying for the loan. So, get a complete list of the paperwork required to be well-prepared beforehand. This ensures a seamless application process.

How to Apply for a Business Loan of ₹30 Lakhs

Applying for a business loan of ₹30 Lakh is a straightforward process. Follow these simple steps to get started:

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

  • Enter your business and personal details

  • Specify your preferred loan amount and tenure

Once you submit the form, the loan provider will contact you for further proceedings.

Frequently Asked Questions

What are the benefits of taking a ₹30 Lakh business loan?

A business loan of ₹30 Lakhs helps you access funds to meet various business requirements. You can use the borrowed amount for business expansion, managing operational costs, or maintaining your inventory and equipment.

Can I get a ₹30 Lakh loan for business without collateral?

Yes. Unsecured business loans of ₹30 Lakhs are available on Bajaj Markets. Your eligibility for these are based on your credit score, business performance, and financial history.

What is the repayment tenure for ₹30 Lakh business loan?

The business loan tenure typically ranges up to 96 months. However, the repayment period offered to you depends on the lender’s policies and your eligibility for the loan.

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