IIFL Finance Business Loan is available at competitive interest rates starting from 16.50% p.a. on Bajaj Markets. You can enjoy flexible repayment tenures of up to 48 months and borrow a high amount of up to ₹30 Lakhs.
The rate of interest charged on this loan usually depends on multiple factors. These include your credit score, business turnover, and prevailing market conditions. Additional charges like the processing and convenience fees, can impact the overall cost of the loan.
To make an informed decision and minimise costs, it is crucial to check the interest rates and understand the factors influencing them.
Below are the key interest rates and charges levied on an IIFL Finance Business Loan:
Particulars |
Details |
Interest Rate |
16.50% p.a. onwards |
Processing Fee |
2% to 6% of the loan amount + GST |
Convenience Fee |
₹500 |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Several factors may impact the interest rates for IIFL Finance Business Loans:
Your CIBIL score reflects your financial behaviour and repayment history. A higher score (usually 750 or more) indicates strong creditworthiness and reduces the risk for lenders. As a result, applicants with a high score are more likely to secure a lower rate of interest. Conversely, a lower credit score could lead to higher rates as lenders perceive increased risk.
The amount you borrow plays a significant role in helping the lenders determine the interest rate charged on your loan. Generally, higher loan amounts come with slightly higher interest rates because the lender takes on more risk. Opting for a loan amount that aligns with your repayment capacity can help you avoid unnecessary costs.
Shorter tenures often come with lower interest rates as it minimises the lender’s exposure to risk. However, these usually lead to higher EMIs. For lower monthly payments, consider opting for a longer tenure. Choose a repayment period which helps you balance affordability and cost-effectiveness.
Lenders evaluate your business turnover to assess its financial health. A higher turnover indicates steady cash flow, reducing the associated risk for lenders. Businesses with strong financials are often eligible for better interest rates. This makes it easier to secure cost-effective loans.
Consistently repaying existing loan EMIs and dues on time helps build trust with lenders. If you have a strong credit history, various financial institutions may offer lower rates of interest to you. This is because the risk of default is minimal in such cases.
Let’s assume you have taken an IIFL Finance Business Loan of ₹10 Lakhs. The rate of interest for the loan is 16.50% p.a. and the tenure is 36 months. You can calculate the EMI using the following formula:
EMI = P × R × (1 + R)^N / [(1 + R)^N - 1]
Here,
P = Principal loan amount
R = Interest rate (Annual interest rate divided by 12)
N = Loan tenure in months
Substitute the values:
P = ₹10,00,000
R = (16.50 ÷ 12) ÷ 100 = 0.01375
N = 3 × 12 = 36 months
In this case, the EMI is approximately ₹35,404.38. However, do note that manually solving such equations can be time-consuming and lead to errors.
To avoid this, use the business loan EMI calculator available on Bajaj Markets. Enter the loan amount, rate of interest, and tenure to get instant and accurate results. This tool is free to use, easily accessible, and ensures error-free calculations.
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 |
|
Follow these simple steps to apply for an IIFL Finance Business Loan online:
Click on 'Check Eligibility'
Provide your personal and employment-related details
Choose 'IIFL Finance' from the list of lenders provided
Select your preferred loan amount and repayment period
Verify the details entered and submit the loan application
After this, your application will be verified. The loan provider will contact you to guide you through the following process.
A bounce charge is levied when your cheque or ECS for an EMI payment is dishonoured due to insufficient funds.
The IIFL Business Loan interest rates start from 16.50% p.a. However, do note that the rates offered to you depend on your eligibility and the lender’s discretion.
Yes, a higher credit score may result in more favourable interest rates. A CIBIL score of 750 or higher is usually ideal for getting an IIFL Finance Business Loan. This score helps you enjoy a low interest rate.