Business Loans in Bengaluru can be availed to meet day-to-day working requirements or to enhance business cash flow. The collateral-free business loan amount is offered up to Rs. 2 crores and shall exceed as per the business requirements. Startup Loans, Working Capital Loans, MSME loans, and Term loans are also available for the people of Bengaluru at competitive interest rates. Before applying for any type of business loan, you must check and compare various types of loan products available as per your business requirements.
Further, let’s check the business loan interest rates offered by leading Banks/NBFCs along with additional loan details.
Compare Business Loan Interest Rates from Top Banks/NBFCs
| Bank/NBFCs | Interest Rate |
| Axis Bank | 10.75% p.a. onwards |
| Flexiloans | 1% per month onwards |
| HDB Financial Services Ltd. | 8% - 26% p.a. |
| HDFC Bank | 10.75% - 25% p.a. |
| IDFC First Bank | 10.50% p.a. onwards |
| Indifi | 1.50% per month onwards |
| Kotak Mahindra Bank | 16% - 26% p.a. |
| Lendingkart | 12% - 27% p.a. |
| Mcapital | 2% per month onwards |
| NeoGrowth Finance | 15% - 40% p.a. |
| Tata Capital | 12% p.a. onwards |
| UGRO Capital | 9% - 36% p.a. |
| Bajaj Finserv | 10% to 26% |
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Read Also: What is the Mudra Shishu loan?
Eligibility Criteria
If you are planning to avail a business loan in Bengaluru then you should also look through the eligibility criteria of the Banks/NBFCs too. You have to fall under the eligibility criteria of lending institutions then only they will provide you with a business loan as follows:
- The age of the applicant should be 21-65 years
- Applicant must have an experience of business for 3 years
- The enterprises’ minimum turnover should be Rs. 90,000 for three months
- The applicant must submit the last 3 years of their ITR statements
Also Know: How does a bank calculate interest & EMI for business loan?
Documents required
The following documents will require when the applicant is applying for a business loan:
- Bank account statements
- Last 3 years’ Income Tax Returns
- Business proof
- Residence proof
- Identity proofs such as PAN card, Aadhaar card, Voter ID card
- Recent photographs
- KYC Documents
- Practice Certificate
- Proof of ownership of the possessions which are used for business purposes
- Any other document required by the lender
Apply for business loans in other cities in India
| Business Loan in Gurgaon | Business Loan in Chandigarh |
| Business Loan in Mumbai | Business Loan in Kolkata |
| Business Loan in Chennai | Business Loan in Pune |
| Business Loan in Delhi | Business Loan in Hyderabad |
FAQs
Ques. Are there any small business loans exclusively for women entrepreneurs?
Ans. Yes, there are exclusive business loans for women who want to start small businesses. You can check business loan schemes, including ICICI Bank – Self Help Group-Bank Linkage Programme (SBLP), Cent Kalyani – Central Bank of India, PNB Mahila Udyami, etc.
Ques. Is there any loan for new entities or Startups?
Ans. Yes, there are loans provided for new entities or Startups. You can check the MUDRA loan under PMMY and the Standup India Scheme by the Government of India.
Ques. Why should I take a business loan?
Ans. Business loan is helpful whether you are at the initial stage or in the growth phase, it will support you and balance you so that you can avoid any type of breakdown.