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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. 

Details of the InCred Business Loan Interest Rates

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.

Factors Affecting InCred Business Loan Interest Rates

Several factors influence the interest rates you may be offered on an InCred Business Loan:

CIBIL Score

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.

Loan Amount

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.

Repayment Tenure

Shorter tenures typically attract lower rates but come with higher EMIs. Longer tenures may have higher overall interest costs.

Business Revenue

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.

Repayment History

A consistent track record of timely repayments builds trust with lenders. A good credit history minimises the perceived risk, leading to competitive interest rates.

How to Calculate the EMI of an InCred Business Loan

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.

Compare InCred 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
sort list
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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
Image

AYE Finance

29.50% p.a.

₹2 Lakhs

30 months

4.2
Image

Bajaj Finance Limited

14% p.a.

₹30 Lakhs

96 months

4.8
Image

FlexiLoans

18% p.a.

₹50 Lakhs

36 months

3.9
Image

IIFL Finance

16.50% p.a.

₹30 Lakhs

48 months

3.9
Image

InCred

24% p.a.

₹3 Lakhs

60 months

4.1
Image

Indifi

22% p.a.

₹30 Lakhs

36 months

3.8
Image

KreditBee

18% p.a.

₹30 Lakhs

36 months

3.9
Image

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 InCred Business Loan on Bajaj Markets

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.

Frequently Asked Questions

What is the minimum interest rate available for an InCred Business Loan?

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.

Does my credit score impact the interest rate for an InCred Business Loan?

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.

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