The key features of a Rs. 4 lakh business loan are mentioned below:
| Particulars | Details |
| Interest Rate | Starting from 13% p.a. |
| Loan Tenure | Up to 7 years |
| Processing Fee | Up to 4-5% of the loan amount |
| Collateral | Unsecured |
Rs. 4 Lakh Business Loan EMI
Given below is the EMI calculation for a Rs. 4 lakh business loan.
| Tenure | 10% p.a. | 12% p.a. | 15% p.a. |
| 1 Year | Rs. 8,792 | Rs. 8,885 | Rs. 9,026 |
| 2 Years | Rs. 4,614 | Rs. 4,707 | Rs. 4,849 |
| 3 Years | Rs. 3,227 | Rs. 3,321 | Rs. 3,467 |
| 4 Years | Rs. 2,536 | Rs. 2,633 | Rs. 2,783 |
| 5 Years | Rs. 2,125 | Rs. 2,224 | Rs. 2,379 |
How to Calculate EMI on a Rs. 4 Lakh Business Loan?
You can visit Paisabazaar’s Business Loan EMI Calculator page to calculate your business loan EMI. Follow the steps given below to calculate EMI:
- Enter loan amount
- Enter loan tenure
- Enter loan interest rate
The calculator will automatically show results instantly. You can also try different combinations of tenure, interest rate and loan amount to find the best combination for you.
Eligibility for a Rs. 4 Lakh Business Loan
The eligibility criteria for a Rs. 4 lakh business loan are mentioned below:
- Age: 21-65 years
- Business vintage: Minimum 3 years
- Minimum turnover: 50 lakh per annum
- Business type: All businesses can apply for an unsecured loan
- Income/profitability: Minimum 3 years of profitable business
- Credit score/credit history: 760+
These are the common eligibility criteria for a Rs. 4 lakh business loan. For lender-specific eligibility criteria, eligibility may vary.
Documents Required for a Rs. 4 Lakh Business Loan
To apply for a business loan of Rs. 4 lakh, you would need the following documents:
- KYC documents
- Business registration/proof
- Bank statements
- Income-tax returns
- GST returns, where applicable
- Financial statements, where required
Who Can Apply for a Rs. 4 Lakh Business Loan?
- Sole proprietors
- Partnership firms
- Private limited companies
- LLPs
- Self-employed professionals
- Other eligible business entities
Things to Check Before Taking a Rs. 4 Lakh Business Loan
- The interest rates offered by different business loan lenders
- Total repayment amount by adding the total cost of the loan
- Processing fee of the business loan
- Other charges levied on the loan
- Prepayment/foreclosure terms of the lender
- EMI affordability to keep repayment easy
- Loan agreement terms
| Choose Business Loans of Your Choice | |
|---|---|
| 1 Lakh Business Loan | 2 Lakh Business Loan |
| 5 Lakh Business Loan | 10 Lakh Business Loan |
| 20 Lakh Business Loan | 30 Lakh Business Loan |
| 40 Lakh Business Loan | 50 Lakh Business Loan |
