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.

Details of the Aditya Birla Finance UDYOG PLUS Business Loan Interest Rates and Charges

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.

Factors Affecting Aditya Birla Finance UDYOG PLUS Business Loan Interest Rates

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:

Credit History

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.

Stable Revenue

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 Credit Profile

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.

Borrowed Amount

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.

Repayment Period

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.

How Aditya Birla Finance UDYOG PLUS Business Loan Interest Rates Affect Your EMIs?

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.

Compare Aditya Birla Finance UDYOG PLUS Business Loan Interest Rates with Other Partners

Our Partners
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Minimum Interest Rate
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Maximum Loan Amount
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Maximum Loan Tenure
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Aditya Birla Finance Limited

22% p.a.

₹10 Lakhs

36 months

4.5
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Ambit Finvest

20% p.a.

₹50 Lakhs

36 months

4.4
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AYE Finance

29.50% p.a.

₹2 Lakhs

30 months

4.2
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Bajaj Finance Limited

14% p.a.

₹30 Lakhs

96 months

4.8
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FlexiLoans

18% p.a.

₹50 Lakhs

36 months

3.9
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IIFL Finance

16.50% p.a.

₹30 Lakhs

48 months

3.9
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InCred

24% p.a.

₹3 Lakhs

60 months

4.1
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Indifi

22% p.a.

₹30 Lakhs

36 months

3.8
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KreditBee

18% p.a.

₹30 Lakhs

36 months

3.9
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Lendingkart

19.20% p.a.

₹35 Lakhs

36 months

4.3
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Protium

20.5% p.a.

₹35 Lakhs

36 months

4.0
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Credit Saison

22% p.a.

₹10 Lakhs

36 months

4.1
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UGRO Capital

24% p.a.

₹50 Lakhs

72 months

4.4
View More

How to Apply for an Aditya Birla Finance UDYOG PLUS Business Loan on Bajaj Markets

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.

Frequently Asked Questions

What is the maximum and minimum interest rate for an Aditya Birla Finance UDYOG PLUS Business Loan?

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.

What are the foreclosure charges for this loan?

Foreclosure charges are 4% of the principal outstanding, plus GST, applicable after 12 months of the loan tenure.

What happens if I miss an EMI payment?

A late payment fee of 3% of the overdue amount per month is applicable for missed EMI payments.

Does my credit history affect the interest rate?

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.

✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Check Eligibility
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