Business Loan in Hyderabad

To meet the day-day business requirements, for business expansion purposes, or to enhance business cash flow, residents of Hyderabad reach out for various lending options like unsecured business loans, MSME loans, term loans or working capital loans. Business loan in Hyderabad is offered by various financial institutions at competitive interest rates for their residents and Indian citizens.

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%

The interest rate offered is calculated on the basis of the applicant’s creditworthiness, financial capacity, repayment capability, business profitability, cash flows, CIBIL score, loan amount, and inventory. The loan amount depends on the business requirements and applicant’s business profile.

Business loans can be availed by the following entities residing in Hyderabad that include individuals, self-employed, business owners, entrepreneurs, traders, retailers, manufacturers, sole proprietorship, partnership firms, private and public limited companies, limited liability partnership and professionals, such as CAs, nurses, doctors, women entrepreneurs, etc.

Eligibility for Business Loans in Hyderabad

• Age Criteria: Minimum 21 years at the time of loan application and 65 years at the time of loan maturity
• Business existence: Minimum 1 year from the date of incorporation
• The applicant should be an Indian citizen with no past criminal record
• Businesses should possess all documents that adhere to state laws
• The eligible monthly or annual turnover amount of a firm shall vary from bank to bank
• Financials that include profit and loss and taxes shall be available
• Applicants opting for an unsecured business loan shall pay a higher interest rate but no collateral
• Applicants opting for a secured loan shall pay a lesser interest rate but have to submit collateral

Documents Required

• Passport-sized photographs
• Business Plan
• KYC Documents: PAN Card, Aadhar Card, Voter’s ID card, Passport, Driving License
• Business owner or partner details (Identity, Age, and Address Proof of owner or partner)
• Residential address proof: Passport, Rent Agreement, Driving License, Voter ID Ration Card
• Business address proof: Establishment Registration or Sales Tax Certificate and Trade License
• Last 6 months’ salary slips, if employed
• Last 1 year ITR and certified P&L and bank statement
• Business KYC: GST Registration Certificate or Shops and Establishment Certificate

Additional Documents

• Memorandum of Articles (MoA) & Article of Association (AoA)
• Declaration of ownership
• Power of Attorney
• Any other documents required by the bank or NBFC

Business Loan Purpose and Prospects

People of Hyderabad can avail business loans for various purposes like business expansion, purchase of equipment or machinery, buying raw materials, paying-off rent and salaries, purchase of inventory and stock, hiring new staff, training existing employees, debt consolidation, etc.

The Government of India is about to make Hyderabad a Pharma city, so natives of Hyderabad can start a new business contributing to the pharma industry and earn huge profits. Next best options of startups in Hyderabad shall be a tour planner, travel consultant, call center, hardware products of computers, electronics, and drug and vaccine production.