Looking for a business loan of ₹30 Lakhs? Check out details, including the interest rates, charges, and year-wise EMI.
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.
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% |
|
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 ₹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.
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.
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.
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.
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.
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.
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.