Looking to address urgent business expenses like fulfilling a purchase order or paying office rent? The InCred Business Loan is designed to cater to your needs with loan amounts of up to ₹3 Lakhs and tenures of up to 5 years.
The interest rates offered on the loan start from just 2% per month. This rate is influenced by several factors. These include the market conditions, your credit history, the loan amount you opt for and so on. Thus, it is important to understand the details of the InCred Business Loan interest rates and the factors that affect them to make a wise borrowing decision.
Here are the interest rates and associated charges for an InCred Business Loan:
Particulars |
Details |
Interest Rate |
24% p.a. onwards |
Processing Charges |
2% to 5% of the loan amount |
*Disclaimer: The mentioned rates and charges are subject to change at the discretion of the lender.
Several factors influence the interest rates you may be offered on an InCred Business Loan:
Your credit score reflects your financial health and repayment behaviour. A higher CIBIL score, typically above 750, demonstrates creditworthiness and can help secure lower interest rates. Conversely, lower scores may result in higher rates.
The loan amount directly impacts the interest rate. Larger loan amounts may carry slightly higher interest rates due to the increased risk for lenders. Borrowing an amount aligned with your repayment capacity ensures better terms and affordability.
Shorter tenures typically attract lower rates but come with higher EMIs. Longer tenures may have higher overall interest costs.
Your business’s turnover is a critical factor in determining loan eligibility and interest rates. A steady and strong revenue flow indicates financial stability, often resulting in more favourable terms.
A consistent track record of timely repayments builds trust with lenders. A good credit history minimises the perceived risk, leading to competitive interest rates.
Let’s say you borrow ₹1,50,000 at an interest rate of 24% p.a. for a tenure of 24 months. Substitute these values in the following formula to calculate the EMI of your InCred Business Loan:
EMI = P × R × (1 + R)^N / [(1 + R)^N - 1]
Here:
P = The borrowed loan amount
R = Monthly rate of interest (annual rate divided by 12)
N = Loan tenure in months
Thus,
P = ₹1,50,000
R = (24 ÷ 12) ÷ 100 = 0.02
N = 24
By applying the values, your EMI would be approximately ₹7,930. Calculating manually can be time-consuming and error-prone. Use the business loan EMI calculator available on Bajaj Markets for accurate and instant results. This tool simplifies complex calculations and ensures precision.
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 InCred Business Loan on Bajaj Markets:
Select the 'Check Eligibility' option on this page
Provide your personal details like your name, date of birth, mobile number, etc.
Choose 'InCred' from the drop down menu
Enter the preferred loan amount and repayment tenure
Submit the loan application
The lender will verify the details mentioned in your application and contact you for further proceedings.
Interest rates for InCred Business Loans start from 24% p.a. onwards. The rates offered to you typically depend on your eligibility and the discretion of the lender.
Yes, your credit score plays a crucial role. A higher CIBIL score could help you secure a lower interest rate, while a lower score may lead to higher rates.