| Credit Saison India Business Loan Highlights | |
| Interest Rate | 13% p.a. onwards |
| Loan Amount | Up to Rs 75 lakh |
| Tenure | 1 year to 5 years |
| Processing Fees (for small business loans) | Up to 3% of the loan amount + GST |
| Collateral | No collateral required |
Business Loan Interest Rates
The interest rate of business loans starts from 13% p.a. for doctors and 16% p.a. for self-employed non-professionals. Stated below are the business loan interest rates for different loan schemes:-
| Business Loan Schemes | Interest Rates (p.a.) |
| Unsecured Business Loans | 16% p.a. onwards |
| Small Business Loans | 22% p.a. onwards |
| Vyapari Loans | 20% p.a. onwards |
| Doctors Loans | 13% p.a. onwards |
Business Loans Fees & Charges
| Particulars | Types of Charges |
| Processing Fees (for small business loans) | Up to 3% of the loan amount + GST |
| Bounce Charges | Rs 500 for every dishonored cheque or payment instrument |
| Documentation Charges | Rs 499 + GST |
| Instrument Swap Charges | Rs 1,000 + GST |
| Penal Charges | 3% per month on the overdue amount, proportionate to the delayed days + GST |
Foreclosure Charges
| Number of Instalments Completed | Charges |
| Up to 12 months | 6% of the outstanding principal amount + GST |
| 13 to 24 months | 4% of the outstanding principal amount + GST |
| Above 25 months | 3% of the outstanding principal amount + GST |
Types of Business Loans Offered by Credit Saison India
Credit Saison India offers unsecured business loans and small business loans for business expansion, operational expenses, upgrading technology and for other business requirements. The NBFC claims to approve business loans within 48 hours of application. The lender also offers collateral-free business loans, branded as Vyapari Loans, to shopkeepers and small merchants to empower local businesses.
Unsecured Business Loans
- Purpose: Credit Saison offers unsecured business loans, i.e., without any collateral or security, for all business needs.
- Loan Amount: Up to Rs 75 lakh.
- Tenure: 1 year to 5 years
Small Business Loans
- Purpose: Prospective business loan borrowers can avail small business loans for tech upgrade, elevate sales and cover operational expenses.
- Loan Amount: Up to Rs 15 lakh.
- Tenure: 1 year to 3 years
Vyapari Loans
- Purpose: Vyapari Loans is an unsecured business loan scheme for shopkeepers and small merchants in India. The eligible applicants can use funds to expand their business, manage their working capital requirements and meet other business needs.
- Loan Amount: Up to Rs 20 lakh.
- Tenure: 1 year to 3 years
- Quick Turnaround: The NBFC claims to offer a quick turnaround, with business loan disbursal in just 2 days.
Doctors Loan
- Purpose: Licensed medical practitioners, including Doctors of Osteopathy (DO), dentists (DDS or DMD), Doctors of Medicine (MD) and other recognized medical professionals can avail doctor loans to start or expand a practice, purchase medical equipment, manage working capital and other professional expenses.
- Tenure: 1 year to 5 years
- Quick Turnaround: The NBFC claims to offer a quick turnaround, with business loan disbursal in just 2 days.
How to Apply for a Business Loan via Paisabazaar
Credit Saison India has partnered with Paisabazaar for business loans. Whether you’re looking for business expansion or working capital needs, Paisabazaar lets you apply for business loans from Credit Saison alongside offers from multiple lenders – all in one place.
Here’s how you can get started:
- Enter your mobile number to get started
- Verify your mobile number with OTP
- Fill in your personal details
- Select a bank account for account aggregator consent
- Compare offers and apply the best-suited offer
Eligibility Criteria for Business Loans
Stated below are the business loan eligibility criteria for unsecured and small business loans:-
For Unsecured Business Loans
- Age: 23 to 60 years
- Business Type: Should be profitable with future growth potential
- Business Vintage: Minimum 3 years of operation
- Annual Turnover: Minimum Rs 25 lakh
- CIBIL Score: 650 and above
For Small Business Loans
- Age: 23 to 60 years
- Business Vintage: Minimum 3 years of operation
- Annual Turnover: Minimum Rs 25 lakh
- CIBIL Score: 650 and above
For Vyapari Loans
- Age: 23 to 60 years
- Annual Turnover: Minimum Rs 25 lakh
- CIBIL Score: 650 and above
For Doctors Loans
- Age: 25 to 60 years
- Annual Gross Recepit: Minimum Rs 10 lakh
- CIBIL Score: 700 and above
Documents Required for Availing Business Loans
The following business loan documents are required to submit a loan application:-
- Identity Proof: Aadhaar Card, Passport, Voter ID, Driving License
- Residence Proof: Passport, Aadhaar Card, Driving License, Trade License,
- Income Proof: Last 6-12 months Bank Statement, Certified Copies, GST Returns
- Business Proof:
- For self-employed non-professionals: Udyam Certificate, GST Registration Certificate, Trade License
- For self-employed professionals: Medical Council Registration Certificate, Degree Certificate
FAQs on Credit Saison India Business Loan
Can startups apply for business loans?
Startups can also avail business loans from Credit Saison India, subject to the eligibility criteria.
Is Credit Saison India approved by the RBI?
Credit Saison India is the trade name of Kisetsu Saison Finance (India) Private Limited, a NBFC registered with the RBI.
What is the minimum credit score for a business loan?
The minimum credit score required for availing business loans from Credit Saison India is 650.
Who is eligible for the Credit Saison India Business Loan?
Shopkeepers, small business owners and medical professionals who meet the eligibility criteria can apply for business loans.
What are the pre-closure/foreclosure charges for business loans?
Credit Saison India levies foreclosure for business loans of up to 6% of the outstanding principal amount + GST, depending on the number of instalments completed.