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20 Lakh Business Loan

Compare business loan offers from top lenders at Paisabazaar and apply for the best suited-one. Get competitive interest rates and flexible tenures for Rs. 20 lakh business loan.
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15.6L Reviews

5.7cr+Satisfied Customers
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₹65k Cr+Loans Disbursed
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HDFC Bank
Max Loan Amt.Upto ₹75L
Rate of Interest10.75% - 28%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
ICICI Bank
Max Loan Amt.Upto ₹50L
Rate of Interest13.25% 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
Axis Bank
Max Loan Amt.Upto ₹75L
Rate of Interest15% - 19.25%
Tenure uptoUpto 5 Years
Processing FeeUpto 2%
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How Can I Apply for a Business Loan Online?

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

Apply Now

Highlights of Rs. 20 Lakh Business Loan

  • Loan Amount: Rs. 20 lakh
  • Interest Rate: 13% p.a.
  • Tenure: 5 years
  • Processing Fees: Up to 2% of the loan amount
  • Collateral: NIL

Eligibility Criteria of Rs. 20 Lakh Business Loan

While the eligibility criteria for a Rs. 20 lakh business loan may vary across lenders, the common eligibility criteria are mentioned below:

  • Credit score: 750+ with a strong credit profile
  • Age: Minimum 21 years, Maximum 65 at the time of loan maturity
  • Business vintage: Minimum a year
  • Business profitability: At least a year of profitable business
  • Minimum Turnover: May vary across lenders
  • Eligible entities: Proprietors, Partnership firms, LLPs, Private limited companies, MSMEs, Traders & service providers

Documents Required for Business Loan of Rs. 20 Lakh

  • Proof of Identity
  • Proof of Residence
  • Proof of ownership of residence or office
  • Proof of business continuity
  • Proof of business registration

Fees and Charges of Rs. 20 Lakh Business Loan

The fees and charges of Rs. 20 lakh business loan are mentioned below:

  • Processing Fees: Up to 6% of the loan amount
  • Prepayment Charges: Up to 5% of the outstanding principal
  • Penal Interest: 2%-6% on the outstanding loan amount

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How to Calculate EMI for a Business Loan?

Business loan is calculated using three main components, namely loan amount, loan tenure and interest rate. The formula used for business EMI calculation is mentioned below.

Formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1],

where,

  • ‘R’ is rate of interest
  • ‘P’ is principal amount
  • ‘N’ is loan tenure

How Can I Apply for a Business Loan Online?

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide your personal details.

Step 4: Select a bank account for account aggregator consent.

Step 5: Compare offers and apply for the best-suited loan.

Apply Now

Explore Our Business Loan Lenders

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FAQs

What CIBIL score is required for a Rs. 20 lakh business loan?

Lenders usually prefer borrowers with a credit score of 750+ for Rs. 20 lakh business loan.

Can I get a Rs. 20 lakh business loan without collateral?

Yes, borrowers can apply for a Rs. 20 lakh unsecured business loan.

What documents are required to apply for a Rs. 20 lakh business loan?

Documents required may vary from lender to lender. However, the common documents required include proof of identity, proof of business, proof of business income, etc.

What is the interest rate for a Rs. 20 lakh business loan?

Borrowers can apply for a business loan on Paisabazaar with interest rates starting from 13% p.a.

What is the repayment tenure for a Rs. 20 lakh business loan?

Repayment tenure for Rs. 20 lakh business loan can go up to 5 years.

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What our customers say

Business loan complex hotta h

Business loan thoda complex lagta h muhje, lekin Paisabazaar pe team ne sab steps simple bana diya muhje ache se support kiya. Thank you.

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Meher SinghJan 22, 2026

Hassle-free Business Loan

I would like to take a moment to sincerely appreciate Rohit Kumar\'s (EW25946) continuous support and clear communication. Your timely responses, cooperation, and willingness to help have made a significant difference and contributed greatly to smooth coordination and successful outcomes. Your professionalism and positive approach are truly commendable, and it has been a pleasure working with you. Thank you for your dedication and for maintaining such effective communication throughout.

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MD Gausar AlamJan 20, 2026

Business loan liya tha, interest acha mila

Muhje darr tha ki interest rate kahi lenders jda na charge krle, phir paisabazaar pe sahi interest rate milla. Mera credit profile dekh ke or bhi bht saare factors consider karke interest rate milla.

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Mohit DasJan 15, 2026

Uncle ne bataya tha Paisabazaar ke baare mai

Mai online loans ke baare mai jada nhi janta, mere chacha ne bataya tha ki Paisabazaar se loan acha milta hai. Try kiya or asli mai bohot acha experience tha.

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Raju RastogiJan 14, 2026

Boutique ke liye small loan liya tha

Boutique ke liye small loan liya tha. Small entrepreneurs ke liye bht important hota hai sahi jagah se loan lena. Paiabazaar ki team bohot helpful hai.

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Vanni KumariJan 13, 2026

Loan approval ke chances dikhate h

Paisabazaar se business loan lo toh pata rehta h ki kaha loan approval ke chances jada hai. Isse thoda tension kam jata h rejection ka. Acha feature hai.

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Sobhit GuptaJan 5, 2026

Advisors bohot ache the

Business loan thoda confusing hota h. Advisors ne sahi guide kiya. Thanks you.

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Prakash MishraJan 4, 2026

Trusting platform

I take business loan from Paisabazaar two months before. very nice experience. No jhamela, only good work done. Thank you

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Priya ShawDec 30, 2025

Chote business ke liye bhi loan mila

Chote businesses ko loan milne mai dikkat hoti hai lekin yaha mil gaya. Thank you for helping small business also. Good job keep it up.

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Rupesh SharmaDec 29, 2025

Quick and easy steps

Business loan apply karne se pehle yeh sochke dar lagta tha ki bohot mehnat lagegi. Lekin mai toh surprise hi hogayi Paisabazaar ka simple or easy steps dekh ke. Itna smooth process tha ki bikul hi samjh nhi aaya kab loan approve hua or kab account mai paise agaye.

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Ishita SinghDec 28, 2025
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