To grow the scale of your business, you need extra funds at your disposal. But, there could be times when you may not have enough of it. This is where a NeoGrowth business loan can come to your rescue. This article will tell you everything you need to know about a NeoGrowth business loan.
NeoGrowth Business Loan is the perfect financial tool to scale up your business to greater heights. When you’re applying for a Business Loan, along with the loan amount, an important factor to consider is the rate of interest.
This is because you also need to pay the rate of interest as EMI apart from the principal amount. Knowing the rate of interest can definitely help you prepare your finances well in advance. Let’s look at the interest rates in detail:
Applying for a NeoGrowth Business Loan online on Bajaj Markets is extremely simple. Follow these steps and get your loan instantly!
Filling Details Online: Enter your personal and professional details.
Specify Loan Details: Select the loan amount and repayment tenure as per your choice.
Upload the Documents: Upload the scanned copies of your documents
Approval & Disbursal: Get online approval within and money in your bank within 5 working days
NeoGrowth provides business loans at some of the most competitive interest rates in the market. On top of that, they charge a daily nominal amount as processing fees too. The applicable interest rates and processing fees on a NeoGrowth business loan are as follows:
18% p.a. onwards.
2-3% of the sanctioned loan amount.
₹500 + taxes (For cheque) and ₹50 + taxes (For NACH transactions).
Subject to the terms stated in the repayment agreement.
High Loan Amount: You can borrow as much as ₹75 Lakhs as a business loan from NeoGrowth in a matter of a few hours and after following a few simple steps.
Easy top-up Loans: If you find yourself in a position of needing more money that you have already borrowed from NeoGrowth, you can easily get a top-up from them. All you will need to do is submit a minimal set of documents and you will be good to go. Note that the maximum top-up amount will depend on your eligibility.
Flexible repayment tenures: You can keep your equated monthly instalments (EMI) outflow worries at bay as you can repay your NeoGrowth Business Loan over the course of as long as 36 months.
Zero Collateral: You need not pledge any collateral to avail a NeoGrowth business loan.
Following are the criteria that you need to fulfil to apply for a Business Loan with us:
You must be at least 18 years of age and an Indian citizen.
You must have a credit score of more than 680.
You must have at least 2 years of business experience.
If you are an online seller. Your monthly sales turnover through online channels must be more than ₹2 Lakhs.
You will need the following documents while applying for a NeoGrowth business loan through Bajaj Markets. They are as follows:
Residence address proof
Business address proof
A valid passport
Your Voter ID card
Your Aadhaar Card
Your rent agreement in case the office space is a rental)
Any other document required by NeoGrowth
NeoGrowth is a Non Banking Financial Corporation (NBFC) that was founded in 2013. It specialises in providing business loans to online sellers and retailers. Today, NeoGrowth has offices in around 24 Indian cities. NeoGrowth has a certificate of registration under section 45-1A of the RBI Act, 1934. It partners with various industries and sectors such as consumer durables, apparels, fitness, hospitality and many more.
NeoGrowth can be contacted on email@example.com or firstname.lastname@example.org, or, through their customer support number, which are 18004195565 / 9820655655. For business loans, you can simply give a missed call at 9222272881.
503, Tower 2B, One IndiaBulls Centre, 841 S.B. Marg, Mumbai – 400 013, India
H/O Phone Number: +91 22 4921 9999
Yes, you can pre-pay/foreclose your bNeoGrowth business loan anytime for zero additional charges.
The minimum amount you can avail from NeoGrowth as a business loan is ₹1 Lakh and the highest amount you can avail is ₹1.5 crores. Note that the maximum amount you will be able to get as a NeoGrowth business loan will depend on your eligibility and repayment capacity.
Once your application is approved and your documents have been verified, NeoGrowth will credit the business loan money into your account within 24-48 hours. It will do so through either NEFT or RTGS.
You can repay your NeoGrowth business loan in either 12 months or 60 months at the most.