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Know about Ambit Finvest Business Loan details such as interest rates and processing fees.
With an Ambit Finvest Business Loan, you can borrow a high amount at low interest rates starting from 20% p.a. The interest rate you qualify for depends on various factors, such as your credit profile and prevailing market conditions.
Understanding how these elements influence your interest rate can empower you to make a well-informed borrowing decision. Let’s dive into the details to explore how to secure the best possible rate for your business needs.
Here’s a breakdown of the interest rates, loan amount, and tenure details applicable to an Ambit Finvest Business Loan:
Particulars |
Details |
|---|---|
Interest Rate |
20% to 35% p.a. |
Loan Amount |
₹1 Lakh - ₹2 Lakhs |
Loan Tenure |
12 months - 36 months |
*Disclaimer: The mentioned details are subject to change at the discretion of the lender.
Here are the key details of the fees and charges associated with this business loan:
Particulars |
Details |
|---|---|
Processing Fees |
Up to 3% of the loan amount |
*Disclaimer: The mentioned charges are subject to change at the lender's discretion.
EMI calculations for business loans are simple. Let’s break the process with an example to understand how the EMI varies based on different tenures.
Suppose you take a business loan of ₹10 Lakhs at an interest rate of 20% p.a.. Here’s how your EMI would change depending on the repayment tenure:
Tenure |
Monthly Instalments (EMI) |
Total Interest Amount |
Total Payable Amount |
|---|---|---|---|
1 Year |
₹92,634 |
₹1,11,614 |
₹11,11,614 |
2 Years |
₹50,895 |
₹2,21,499 |
₹12,21,499 |
3 Years |
₹37,163 |
₹3,37,889 |
₹13,37,889 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
Multiple factors help lenders determine your Ambit Finvest Business Loan rate of interest. Some of these are as follows:
Borrowing larger amounts may attract slightly higher rates, as they pose greater risk to lenders. It is advisable to request an amount that aligns with your repayment capacity.
A high score improves your chances of securing lower interest rates. On the other hand, a lower score may result in higher rates due to increased perceived risk.
A shorter repayment period may lead to lower interest rates as it helps reduce the associated risk for the loan provider. However, shorter durations also mean higher EMIs. Choose a tenure that strikes the right balance between affordability and total loan cost.
A good repayment record demonstrates reliability and credibility. Timely repayments of existing EMIs and credit card dues can help you secure better interest rates.
Your business’s turnover and profitability play a crucial role in determining your interest rate. Consistent revenue and stable financials often result in more favourable terms.
Follow these simple steps to apply for an Ambit Finvest Business Loan online:
Click on the 'Check Eligibility' option on this page
Provide your personal and income-related details
Select 'Ambit Finvest' from the list of lenders provided
Enter your preferred loan amount and tenure
Cross check the details and submit the application
Following this, your application will be verified. The loan provider will reach out to you for further proceedings.
The interest rates range from 20% to 35% p.a. However, the rate offered to you depends on your loan eligibility and the lender’s discretion.
Yes, your credit score plays a critical role in determining the interest rate. A higher score typically leads to lower rates.
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