Introduction

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:

NeoGrowth Business Loan Interest Rate in India

Take a look at the NeoGrowth Business Loan interest rates and associated information.

Rate of interest

18% onwards

Tenure of the loan

Up to 36 months

Disbursal Time

5 Days

Collateral

NA

Amount of loan

Up to Rs. 75 Lakhs

Pre-Closure fees

No additional charges though customer has to be pay the interest applicable on the outstanding amount

Processing charges

2-3% of the loan amount

Time to sanction a loan

Within 5 working days

How Neogrowth Business Loan Interest Rate is calculated

With the help of NeoGrowth Business Loan EMI Calculator, you can calculate your monthly EMIs instantly. All you need to enter is the loan amount, repayment tenure and your preferred rate of interest. Once the values are set, you get the EMI amount that needs to be paid as a repayment amount.

Documents Required for Business Loan

Individual

  • KYC

  • Residence proof: voter id/ driving license/ ration card

  • Light bill with add/ rental agreement valid

  • Pan card mandatory

Business

  • Gumasta/Shop act/Food license/ Drug license

  • GST certificate (not mandatory)

  • Rent agreement/ light bill (last 3 months)

  • Bank A/c Statement- Last 6 Month PDF from the bank

  • Ca /SA/CC (Neocash retail)

  • Moratorium Declaration- Declaration that merchant will not avail moratorium in future

  • Entity/Business Vintage/Registration Proof

  • Gumasta /intimation/ GST/ ca from inception

  • Residence/ Place of Business: Ownership proof/ Rent Agreement

  • Constitution Document in case of Non-Proprietorship

  • Partnership FIRM: Partnership Deed/ company pan card

  • Private Limited Firm: MOA/AOA/ COI/Pan card