Disclaimer: Unity Small Finance Bank 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 Unity Small Finance Bank for business loans. No offers/services from Unity Small Finance Bank are being provided by Paisabazaar for business loans. For further information about Unity Small Finance Bank for business loans, users are required to reach out directly to Unity Small Finance Bank.
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Highlights of Unity Small Finance Bank Business Loan |
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| Interest Rate | 11.00%-44.90% p.a. |
| Loan Amount | Up to Rs 3 crore |
| LTV ratio | As per the applicant’s credit profile |
| Tenure | Up to 10 years |
| Processing Fee | Up to 3.5% of the loan amount |
Note: Rates as of 3 September 2024
Unity Bank Business Loan Interest Rates
Unity Small Finance Bank Business Loan interest rate starts from 11.00% p.a. The bank offers interest rates based on the type of business loan schemes stated below:
| Loan Variants | Interest Rates (p.a.) |
| Secured Business Loan | 13.00%-24.00% |
| Unsecured Business Loan | 15.50%-26.00% |
| SME Loans | 13.00%-18.00% |
| Supply Chain Finance | 11.00%-15.00% |
| Digital Business Loan | 15.75%-44.90% |
| Secured Loan (Micro-LAP) | 20.00%-28.00% |
Unity Small Finance Bank Business Loan Fees & Charges
Fees & Charges for Unsecured Business Loans
| Description | Charges |
| Cheque Bounce Charges | Rs. 500 |
| Cheque Swap Charges | Rs. 1,500 |
| Documentation Charges | Rs. 1,500 |
| Stamp Duty Charges | Payable as per actuals by the customer |
| Penal Charges | 3% p.m. on the overdue amount for the default period. |
| Loan reschedule charges in terms of EMI/Tenure/ROI | Rs. 2,000 (can be changed at the sole discretion of the Bank) |
| Statement of Account Charges | Once a year will not be chargeable.
Rs. 500 (in case if the applicant requires extra copy) |
| Document Retrieval Charges (If applicable) | Rs. 1,000 |
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Part Prepayment and Foreclosure charges for Unity Bank Unsecured Business Loans
| Months on Board (MOB) | Charges plus GST | |
| If Closed using own funds | In the case of BT to other financer | |
| 0-1 year | 6% of the principal outstanding | No foreclosure is allowed |
| After 1 year | 4% of the principal outstanding | 4% of the principal outstanding |
Fees & Charges for Secured Business Loans
| Description | Charges |
| Cheque Bounce Charges | Rs. 500 |
| Cheque Swap Charges | Rs. 1,500 |
| Property Swap Charges (if applicable) | Rs. 15,000 + Legal and Valuation charges as per actuals. |
| Documentation Charges | Rs. 1,500 |
| Stamp Duty Charges | Payable as per actuals by the customer |
| Penal Charges | 3% p.m. will be payable on the overdue amount for the default period. |
| Loan reschedule charges in terms of EMI/Tenure/ROI | Rs. 2,000 (can be changed at the sole discretion of the bank) |
| Statement of Account Charges | Once a year will not be chargeable.
Rs. 500 + Applicable Tax in case an extra copy required. |
| Duplicate List of Documents Charges | Rs. 1,500 |
| Document Retrieval Charges (if applicable) | Rs. 1,000 |
Part Prepayment and Foreclosure Charges for Unity Bank Secured Business Loans
| Months on Board (MOB) | Charges plus GST | |
| If Closed using own funds | In the case of BT to other financers | |
| 0-1 years | 6% of the principal outstanding | No foreclosure is allowed |
| Above 1 year to 3 years | 5% of the principal outstanding | 6% of the principal outstanding |
| Post 36 Months | 4% of the principal outstanding | 5% of the principal outstanding |
Note: – In the case of Mortgages, part prepayment charge will not be applicable where the borrower is an individual and rate of interest is floating.
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Fees & Charges for SME Loans
| Description | Charges |
| Processing Fee | Up to 3% of the loan amount |
| Penal Charges | In case of interest and/or principal default: an additional interest of 2% p.a. over the applicable interest rate on the overdue amount for the default period |
| In case of default/non-compliance with any of the terms and conditions specified in the Transaction Documents: an additional interest of 2% p.a. over the applicable interest rate on the entire loan outstanding for the default period | |
| Legal & Documentation Charges | Case to Case basis |
| Stamp Duty Charges | Payable as per actuals by the applicant |
| Prepayment charges | Up to 4% |
Fees & Charges for Supply Chain Finance
| Description | Charges |
| Processing Fee | Up to 2% of the loan amount |
| Penal Charges | 13% to 20% |
| Legal & Documentation Charges | Case to Case basis |
| Stamp Duty Charges | Payable as per actuals by the applicant |
Fees & Charges for Micro LAP
| Description | Charges |
| Processing Fee | 2.5% of the loan amount |
| Part Payment | 4% on the amount paid |
| Prepayment Charges | 6% on the outstanding principal amount |
| Bounce Charges | Rs 750 for loans up to Rs 10 lakhs
Rs 1,000 for loans above Rs 10 lakhs |
| Documentation Charges | Rs 2,000 |
| Late Payment Charges | 3% p.m. on default month |
| Stamp Duty Charges | Payable as per actuals by the applicant |
| List of Documents Charges (LOD Charges) | Rs 1,000 per instance |
| Login Fee | Rs 1,500 |
| Legal and Technical Charges | Rs 4,500 |
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Fees & Charges for Digital Business Loan
| Description | Charges |
| Processing Fee | 3.5% of the loan amount |
| Bounce Charges | Up to Rs 500 |
| Stamp Duty Charges | Payable as per actuals by the applicant |
| Penal Charges | 36% p.a. (3% per month) will be payable by the borrower on the overdue amount for the default period |
| Foreclosure Charges | Up to 3% |
| Insurance (Credit Shield) | If opted by the borrower voluntarily, As per the guidelines of the Insurer |
Types of Unity Small Finance Bank Business Loan
MSME Loans
Micro LAP
Purpose: This facility offers credit to small and micro enterprises to scale up their newly launched business ventures or established small businesses
Loan amount: Rs 5 lakhs to Rs 25 lakhs
Tenure: Up to 10 years
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Loan Against Property
Purpose: This Loan Against Property facility allows startups, fintechs and emerging entrepreneurs to raise funds by leveraging their existing property.
Loan amount: Rs 25 lakhs to Rs 1 crore
Tenure: Up to 10 years
MSME Term Loan
Purpose: The MSME term loan facility from Unity Small Finance Bank is a customised credit facility for MSMEs to finance their business growth. The bank also claims to provide business advice to MSME borrowers at every development stage of their business.
Loan amount: Rs 1 crore to Rs 3 crore
Unsecured Business Loan
Purpose: The unsecured business loans facility from Unity Small Finance Bank allows manufactures, traders and service providers to scale up their business without pledging any collateral or security.
Loan amount: Up to Rs 50 lakhs
Tenure: Up to 3 years
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Digital Business Loan
Product: Unity Small Finance Bank provides unsecured business loans digitally through the ‘Digital Business Loan’ product, offering equated daily, weekly, and monthly installments.
Loan amount: Term loan of Rs 25,000 to Rs 30 lakhs
Tenure: Up to 3 years
Supply Chain Management
Vendor Financing
The Vendor Financing from Unity Small Finance Bank is a revolving credit facility of shorter tenures, which allows early loan repayment by the borrowers. This ensures a lower cost of capital and improved cash flows for the borrowers.
Dealer Financing
The dealer financing scheme offered by the bank provides need-based credit solutions to its borrowers in the form of short-term and revolving credit facility to improve their liquidity and provide a flexible repayment structure.
Pre-Shipment Finance
Pre-Shipment finance scheme is offered to sellers to manage their working capital needs, raw materials purchases, packing costs, labour and other pre-shipment expenses. The bank also provides customised structures against demand forecasts, purchase orders (confirmed/unconfirmed by buyer) or underlying commercial contracts.
Post-Shipment Finance
The bank provides exporters with a post-shipment finance scheme to cover shortfall in liquidity requirements in exports. This short-term finance bridges the gap between shipping and payment proceeds and thus, assists them in managing their cash flows.
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