Disclaimer: Piramal Finance is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Piramal Finance for business loans. No offers/services from Piramal Finance are being provided by Paisabazaar for business loans. For further information about Piramal Finance for business loans, users are required to reach out directly to Piramal Finance.
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Highlights of Piramal Finance Business Loan |
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| Interest Rate | 11.50% p.a. onwards |
| Loan Amount | Up to Rs 2 crore |
| Tenure | Up to 15 years |
| Processing Fee | Up to 4% |
Rates as of 3rd October 2024
Piramal Finance Business Loan Interest Rates
| Loan Type | Interest Rates (p.a.) |
| Unsecured Business Loan | 16.49% p.a. onwards |
| Business Loan Against Property | 11.50% p.a. onwards |
| Secured Business Loan | 12.50% p.a. onwards |
| Working Capital Loan | 12.50% p.a. onwards |
Types of Piramal Finance Business Loan
Piramal Finance Unsecured Business Loan
Purpose: Piramal Finance offers collateral-free business loans to its applicants to finance their business or business related activities, such as business expansion, purchase of stock and inventory, grow their working capital reserves, hire workforce, capitalize on profitable business opportunities, buy new equipment/machinery/software, enhance business infrastructure and consolidate business debts with high interest rates.
Loan Amount: Rs 1 lakh to Rs 10 lakh
Tenure: Up to 5 years
Piramal Finance Business Loan Against Property
Purpose: Consumers can avail Piramal Finance Business Loan Against Property to meet their cash flow requirements for business purposes. This loan facility is offered against self-owned residential properties, self-owned and self-occupied residential properties, self-owned rented properties, self-owned plots, self-owned commercial properties and self-owned rented commercial properties.
Loan Amount: Up to Rs 2 crore
Tenure: Up to 15 years
Piramal Finance MSME Business Loans (Secured)
Purpose: Prospective business loan borrowers can avail Piramal MSME Business Loans (Secured) to finance various business activities including business expansion and purchasing new equipment. These loans are offered against collateral/security like self-owned property, gold, fixed deposits, etc.
Loan Amount: Up to Rs 25 lakh
Tenure: Up to 15 years
Piramal Finance Working Capital Loan
Purpose: Piramal Finance offers Working Capital Loans to meet the short term financial requirements of its business loan applicants, such as emergency expenditure, overhead expenses like office rent/electricity bill/salary and expansion of business infrastructure.
Loan Amount: Up to Rs 25 lakh
Tenure: Up to 15 years
Eligibility Criteria for availing Piramal Finance Business Loan
- The applicant should be an Indian citizen.
- Minimum age at the time of loan application- 24 years
- Maximum age at the time of loan maturity- 72 years
- CIBIL Score- 750 and above
- Business Vintage- 3 years
- Co-applicant- Applicant’s spouse or any first blood relative like parents, children, siblings who have attained maturity age can apply for business loans with Piramal Finance. Woman co-applicant is mandatory. All co-owners of the property should be co-applicants to business loan.
Documents Required for Loan Application
- Duly filled application form
- Passport size photographs
KYC Documents
- ID Proof- Aadhar Card, Voter ID, Passport, Driving License
- Address Proof- Aadhar Card, Voter ID, Passport, Driving License, Utility bills like telephone bills and electricity bills
Income Documents
- ITR for last 2 years with income computation
- Bank statement for last 6 months
- CA audited financials, wherever applicable
Piramal Finance Fees and Charges
| Processing Fees | Up of 4% of loan amount |
| Part-payment/Pre-closure charges | 4% of principal amount |
| Dishonour charges | Rs 500 |
| CERSAI charges | Rs 500 |
| Loan Pre-closure Statement | Rs 1,000 |
| List of documents deposited with the lender | Rs 1,000 |
| Interest rate conversion charges | 0.50% of loan amount |
| No Due Certificate/NOC Issuance Charges | Rs 500 |
| Additional Charges | 2% per month on outstanding amount |
| Collection pickup charges | Rs 250 |
| Retrieval of original property documents | Rs 500 |
| Change of loan repayment mode | Rs 500 |