Credit Saison India Business Loan

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.