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Learn about business loan interest rates by Aditya Birla Capital UDYOG PLUS in detail.
Securing a business loan with competitive interest rates is essential for managing costs effectively. The Aditya Birla Capital 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 Capital UDYOG PLUS Business Loan in detail.
Here’s a breakdown of the interest rates, loan amount, and tenure details associated with this loan:
Particulars |
Details |
|---|---|
Interest Rate |
22% to 30% p.a. |
Loan Amount |
₹1 Lakh - ₹10 Lakhs |
Loan Tenure |
12 months - 36 months |
*Disclaimer: The mentioned details are subject to change at the lender's discretion.
Here are the key details of the fees and charges associated with this business loan:
Particulars |
Details |
|---|---|
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 charges are subject to change at the lender's discretion.
Suppose you are applying for a 10 Lakhs business loan at an interest rate of 22% p.a. Here are the possible EMI amounts for different tenures:
Tenure |
Monthly Instalments (EMI) |
Total Interest Amount |
Total Payable Amount |
|---|---|---|---|
1 Year |
₹93,594.38 |
₹1,23,132 |
₹11,23,132 |
2 Years |
₹51,878 |
₹2,45,075 |
₹12,45,075 |
3 Years |
₹38,190 |
₹3,74,856 |
₹13,74,856 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
The Aditya Birla Capital 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.
Here are some simple steps to apply for an Aditya Birla Capital 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 Capital' 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 Capital 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.
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