Quick and hassle-free ₹5 Lakh business loan with competitive rates and flexible repayment options.
A ₹5 Lakh business loan can offer financial assistance to streamline daily operations, fuel business expansion, or cover essential expenses. Lenders on Bajaj Markets offer loans with competitive interest rates, and flexible repayment options tailored to meet various business needs. The simple online application process is designed to offer convenience, potentially reducing the time and effort required.
You can compare interest rates offered by different lenders to make an informed choice. Here are the rates for a ₹5 Lakh business loan:
Partner |
Starting Interest Rate (p.a.) |
Processing Fee |
Bajaj Finance |
14.00% |
Up to 3.54% of the loan amount (inclusive of taxes) |
IIFL Finance |
16.50% |
2.50% of the loan amount |
FlexiLoans |
18.00% |
Up to 2.5% of the loan amount |
KreditBee |
18.00% |
3% to 4.25% of the loan amount |
Lendingkart |
19.20% |
3% of the loan amount |
Ambit Finvest |
20.00% |
Up to 2% of the total loan amount |
Protium |
20.50% |
1% to 6% of the loan amount |
Aditya Birla Finance |
22.00% |
3% to 4% of the loan amount, plus GST |
Credit Saison |
22.00% |
Up to 4.72% of the loan amount (inclusive of taxes) |
Indifi |
22.00% |
Up to 3% of the loan amount, plus GST |
InCred |
24.00% |
Between 2% and 5% of the loan amount |
AYE Finance |
29.50% |
2.5% of the loan amount, plus applicable GST |
Disclaimer: Interest rates and terms are subject to change at the lender's discretion.
The EMI for a ₹5 Lakh business loan is influenced by factors such as the loan amount, interest rate, and tenure. For example, with an interest rate of 14% p.a. and a repayment period of 60 months, the EMI would amount to ₹11,634. This EMI includes both the principal repayment and the interest component, with the interest portion gradually decreasing as the principal balance is repaid over time.
Using an EMI calculator allows you to estimate monthly instalments for varying interest rates and loan tenures, enabling better financial planning. Here’s a breakdown of your EMI, showing its contribution towards loan repayment and associated costs at 14% p.a. over 60 months:
Tenure |
Principal Paid |
Interest Paid |
Outstanding Dues |
1st Year |
₹74,254.47 |
₹65,355.07 |
₹4,25,745.54 |
2nd Year |
₹ 85,343.78 |
₹54,265.73 |
₹3,40,401.76 |
3rd Year |
₹ 98,089.19 |
₹41,520.33 |
₹2,42,312.58 |
4th Year |
₹1,12,738.03 |
₹26,871.48 |
₹1,29,574.55 |
5th Year |
₹1,29,574.55 |
₹10,034.96 |
₹0.00 |
*Disclaimer: The figures mentioned are approximate and intended for illustrative purposes only. For precise EMI details, it’s best to consult your lender directly.
Manually calculating EMIs can be time-consuming and prone to mistakes. To simplify the process, you can use the business loan EMI calculator on Bajaj Markets, which provides instant and accurate results.
To secure a ₹5 Lakh loan for business, applicants need to meet specific criteria that assess their financial stability and business credibility:
Citizenship: Applicants must be Indian citizens
Credit Score: A good CIBIL score is mandatory
Professionals: Self-employed professionals like doctors and chartered accountants are eligible
Non-professionals: Traders, manufacturers, and other self-employed non-professionals can apply
Age: Applicants must be between 21 and 60 years
Business Type: Partnerships, LLPs, and private limited companies qualify
Current Experience: Minimum 1 year in the current business is required
Total Experience: At least 5 years of total business experience is necessary
Submitting the correct documents is essential to ensure a smooth and hassle-free loan application process:
Identity Proof: PAN card, Aadhaar card, passport, driving licence, or voter ID is required
Address Proof: Aadhaar card, passport, utility bills, or lease agreement can be provided
Income Proof: Last six months’ bank statements and Income Tax Returns are mandatory
Financial Documents: Certified Profit and Loss statements, balance sheets, and income computation for the last two years are needed
You can easily apply for a business loan by following these steps:
Select the ‘Check Eligibility’ option available on this page
Fill in your personal and business information accurately
Specify the loan amount and tenure that suits your needs
Complete and submit the application form
A ₹5 Lakh Business Loan can help you fund working capital, purchase equipment, manage operational expenses, or expand your business without using personal savings.
Yes, you can get a ₹5 Lakh Business Loan without collateral from many lenders, provided you have strong creditworthiness and demonstrate solid business performance.
Repayment tenures for a ₹5 Lakh Business Loan typically range from 12 to 96 months, depending on the lender and your financial profile.
Approval time for a ₹5 Lakh Business Loan can vary but can be as quick as 24–48 hours with a complete application.
Defaulting on a ₹5 Lakh Business Loan could negatively impact your credit score, result in additional penalties, and may lead to legal action if unresolved.
Yes, prepayment is allowed by most lenders, though some may impose a nominal prepayment charge.