At Finserv MARKETS, you can avail business loan at affordable interest rates & processing charges. By getting business loans at lower interest rates, your business is sure to scale greater heights.
Credit Score is a basic parameter to check the creditworthiness of the borrower. A good Credit Score gives the lender the assurance that you can pay the loan on time. The better the score, the lower the interest rate that you can enjoy.
Work experience plays a major role in determining the interest rate on business loan. Greater work experience can fetch you a loan at a lower interest rate.
A steady source of income will help the lender know that your repayment capacity is strong. This will help you getting loan at lower interest rate.
Choose Finserv MARKETS for a business loans due to the following reasons.
Smooth Online Application process
Minimal Documentation
100% Transparency
No collateral needed
The reducing or diminishing balance rate of interest is calculated each month on the outstanding principal amount. Put simply, with each EMI that you pay against your business loan, the outstanding loan amount reduces; under this method, the interest payable in each subsequent month is calculated against the outstanding amount, and, hence, varies.
A fixed rate of interest is calculated on the full principal loan amount and is applicable throughout the loan tenure, i.e. the interest rate remains standard throughout the repayment period.
The interest rate depends on credit score, work experience, income etc.
If you have a good credit score, a good work experience, and stable source of income, it is very easy to get a business loan.
Business loan is an unsecured loan. Hence, you need not provide any collateral.
It typically ranges from 1-5 years.
The interest rate is calculated basis the applied loan amount, your credit score, repayment history, relationship with the lender etc.