IDFC First Bank Business Loan

• Loan Amount: The interest rates offered on IDFC First Bank Business Loan depends upon the loan amount you apply for. Interest rates will be much lower if you apply for a  higher loan amount. IDFC Bank gives a loan of minimum Rs. 1 Lakh and a maximum of Rs. 1 Crore. 

• Time in Business: If you have significant business experience, you can avail the business loan at very low interest rates. Minimum business existence of 36 months can get you an IDFC Business Loan.

• Revenue: If you have a higher monthly revenue, you can avail the business loan at very low-interest rates. Loans are provided to entities whose annual turnover is at least Rs. 12 Lakh.

• CIBIL Score: To get a loan from IDFC First Bank, your CIBIL score should be 750 or above. Higher the CIBIL Score, the higher the chances of getting an IDFC Business Loan at the lowest interest rates.

• Visit the IDFC Bank Official website and go to the Business Loan section.

• Click on ‘APPLY NOW’.

• Enter your mobile number and click on I have read and agreed to terms and conditions. It is also advised to read the terms and conditions.

• Next, click on ‘VERIFY’.

• Enter the OTP sent to your mobile number and click on ‘NEXT’.

• Enter your first name, last name, email address, city and click on ‘CONTINUE’.

• From there, a bank executive or the relationship manager will guide you through the next stages via phone call or email.

2. How to apply offline?

• Locate the nearest IDFC Bank branch.

• Fill out the relevant form.

• Keep the relevant documents handy.

• Submit the physical copy of your application form and the rest of the documents to the bank staff.

• The bank staff will verify and check the documents and help you understand and complete the whole business loan process.

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