Noida has emerged as a fast-growing hub for the media houses and entertainment sector with the presence of prominent news channels and films/serials production companies. If applicants want to open a new business or expand existing business in Noida can take business loans at affordable interest rates.
Business loans including short- or long-term loans offered to interested residents of Noida can be used for various purposes like investing in infrastructure, paying-off rent or salaries, purchase of equipment, buying raw materials, purchase of inventory and stock, etc.
Compare Business Loan Interest Rates from Top Banks/NBFCs – Feb 2021
| Banks / NBFCs | Interest Rate |
| SBI | 8.30% onwards (SME Loan) |
| Canara Bank | 9.60% onwards |
| Corporation Bank | 10.3% onwards |
| HDFC Bank | 15% onwards |
| Kotak Mahindra Bank | 16% onwards |
| ICICI Bank | 16% onwards |
| IDFC First Bank | 16% onwards |
| IIFL Finance | 16% onwards |
| Lendingkart Finance | 17% onwards |
| FlexiLoans | 17% onwards |
| Axis Bank | 17% onwards |
| Fullerton India | 17% onwards |
| ZipLoan | 18% onwards |
| Hero Fincorp | 18% onwards |
| Bajaj Finserv | 19% onwards |
| RBL Bank | 19% onwards |
| Indifi Finance | 22% onwards |
| NeoGrowth Finance | 24% onwards |
| Bank of Baroda | Based on your Business’s Profile |
| PNB Business Loan | Based on your Business’s Profile |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank, NBFC and RBI. GST and service tax shall be levied extra on the mentioned fee & charges.
Eligibility for availing Business Loans in Noida
- Business loans can be availed by self-employed, individuals, sole proprietorship, partnership firms, limited liability partnerships, private limited and public limited companies, MSMEs, NGOs, co-operative societies, etc.
- Minimum age of the applicant: 18 years
- Maximum age of the applicant: 65 years
- Applicant with good CIBIL score and repayment capacity
- Indian citizen with no criminal records
- Must not be in debts and existing company should be in profits
- Annual turnover to be decided by the lender
- Minimum business existence of at least 2 years with one year of business experience
| Interest Rate | 11.90% onwards |
| Loan Amount | Max. up to Rs. 1 crore, can exceed depending upon business requirements |
| Repayment Tenure | From 12 months to 5 years |
| Collateral | Not required (Besides equipment finance, machinery loan and invoice discounting) |
| Age Criteria | Min. 18 years and Max. 65 years |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank, NBFC and RBI. GST and service tax shall be levied extra on the mentioned fee & charges.
Types of Business Loans offered in Noida
- Term Loan
- Letter of Credit
- Equipment Finance
- Working Capital Loan
- Overdraft
- Invoice Funding
- Merchant Cash Advance
- Loans for Farm/Construction equipment
- Micro Loans
- MSME loans, etc.
Documents Required for Loan Application
- Passport sized photographs
- Business Plan
- KYC documents of owners, partner, promoter (if applicable)
- Identity Proof: Passport, PAN card, Voter’s ID card, Driving License
- Age Proof: Passport, Voter’s ID card, Voter’s ID card
- Residential Proof: Property papers, ration card, Aadhar Card, Utility bills (Water & Electricity)
- Business Address Proof: Rent agreement, Lease documents, Sale Deed
- Last 12 months’ bank statement
- Last 3 months’ Salary Slips, if employed
- Proof of ownership of the possessions used for business activities
- Last 2 years’ GST and Sales Tax certificates
- Financial Documents – Audited by Certified CA
Steps to Apply for Business Loan in Noida from Paisabazaar
The business loan application process is quick, hassle-free and convenient. Follow the below-mentioned steps to apply for a business loan.
1) Visit paisabazaar.com and fill up and submit the loan application form.
2) Submit the required documents.
3) After documents are submitted, the bank will verify the documents.
4) Once the documents are verified, the bank shall approve the business loan.
5) After the loan is approved, the loan amount shall get disbursed in the bank account of the applicant.
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