Securing a business loan with competitive interest rates is essential for managing costs effectively. The Aditya Birla Finance UDYOG PLUS Business Loan comes with interest rates ranging from 22% to 30% p.a. Understanding how factors like credit score, loan amount, and repayment tenure affect the interest rate can help you make informed decisions. Additionally, other charges like the processing fee add to the total borrowing costs. Let’s know more about the interest rates and other charges of an Aditya Birla Finance UDYOG PLUS Business Loan in detail.
Here’s a breakdown of the key interest rates and charges associated with this loan:
Particulars |
Details |
Interest Rate |
22% to 30% p.a. |
Processing Fee |
3% to 4% + GST |
Foreclosure Charges |
4% + GST (post 12 months) |
Late Payment Fee |
3% of the overdue amount per month |
*Disclaimer: The mentioned rates and charges are subject to change at the lender's discretion.
The Aditya Birla Finance UDYOG PLUS Business Loan interest rates offered to you are influenced by various factors. Here’s a closer look at what could impact your loan terms:
Your previous repayment behaviour, such as clearing EMIs or dues on time, reassures lenders of your reliability. A positive track record can significantly influence your ability to negotiate better loan terms.
Lenders assess your business’s financial health, including revenue and profitability, to gauge stability. A consistent turnover indicates lower risk and improves your chances of accessing competitive rates.
Your creditworthiness plays a significant role in determining the interest rate. A strong credit profile with timely repayment history may allow you to secure lower rates, whereas a weaker score could increase costs.
The amount you choose to borrow affects the interest rate. Larger loan amounts might come with marginally higher rates, as they pose greater risk to the lender. Opting for a loan amount suited to your repayment capacity helps you manage costs effectively.
The repayment period you select has a direct bearing on the interest rate. Shorter tenures generally lead to lower rates but come with higher monthly payments, while longer tenures may reduce EMIs but result in higher overall costs.
The interest rates offered to you have a major impact on the EMIs you are required to pay. This is because the EMI consists of the principal and interest component. This means that your monthly payments help service the loan as it is used to repay the borrowed amount and pay the interest charges incurred. Let’s understand this better with an example.
Assume you borrow ₹10 Lakhs for a tenure of 36 months at an interest rate of 22% p.a. In this case, the EMI of your UDYOG PLUS Business Loan will be ₹38,190.45. Here’s a breakdown of how it helps repay the loan:
Tenure |
Principal Paid |
Interest Charges |
Outstanding Dues |
1st Year |
₹2,63,842 |
₹1,94,441 |
₹7,36,157 |
2nd Year |
₹3,28,114 |
₹1,30,170 |
₹4,080,42 |
3rd Year |
₹4,080,42 |
₹50,245 |
₹0 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
To save time and ensure accuracy, use the online business loan EMI calculator available on Bajaj Markets. It helps generate instant results which are error-free and easy to understand. Using this calculator efficiently can help you plan your finances better.
Our Partners
|
Minimum Interest Rate
|
Maximum Loan Amount
|
Maximum Loan Tenure
|
|
---|---|---|---|---|
![]() Aditya Birla Finance Limited |
22% p.a. |
₹10 Lakhs |
36 months |
|
![]() Ambit Finvest |
20% p.a. |
₹50 Lakhs |
36 months |
|
![]() AYE Finance |
29.50% p.a. |
₹2 Lakhs |
30 months |
|
![]() Bajaj Finance Limited |
14% p.a. |
₹30 Lakhs |
96 months |
|
![]() FlexiLoans |
18% p.a. |
₹50 Lakhs |
36 months |
|
![]() IIFL Finance |
16.50% p.a. |
₹30 Lakhs |
48 months |
|
![]() InCred |
24% p.a. |
₹3 Lakhs |
60 months |
|
![]() Indifi |
22% p.a. |
₹30 Lakhs |
36 months |
|
![]() KreditBee |
18% p.a. |
₹30 Lakhs |
36 months |
|
![]() Lendingkart |
19.20% p.a. |
₹35 Lakhs |
36 months |
|
![]() Protium |
20.5% p.a. |
₹35 Lakhs |
36 months |
|
![]() Credit Saison |
22% p.a. |
₹10 Lakhs |
36 months |
|
![]() UGRO Capital |
24% p.a. |
₹50 Lakhs |
72 months |
|
Here are some simple steps to apply for an Aditya Birla Finance UDYOG PLUS Business Loan on Bajaj Markets:
Select the 'Check Eligibility' option available on this page
Enter your personal and income-related details
Choose 'Aditya Birla Finance' from the list of lenders provided
Enter the preferred repayment period and loan amount
Submit the online application form
Your application will be verified, post which, the lender will reach out to you for further proceedings.
The Aditya Birla Finance UDYOG PLUS Business Loan rate of interest ranges between 22% and 30% p.a. The rate offered to you depends on your eligibility for the loan and the lender's policies.
Foreclosure charges are 4% of the principal outstanding, plus GST, applicable after 12 months of the loan tenure.
A late payment fee of 3% of the overdue amount per month is applicable for missed EMI payments.
Yes, your credit history is a crucial factor. A higher credit score can help you secure lower interest rates, while a lower score may lead to higher rates.