Five Star Business Finance Limited Business Loan

Five-Star Business Loan Highlights
Interest rate	Based on the customer profile
Loan amount	Rs 1 lakh to Rs 10 lakh
Repayment tenure	Up to 7 years

Note: Data as of 15th April 2024

Five-Star Business Loan Interest Rate

Five-Star Business Finance Limited has not disclosed its business loan interest rates. However, the NBFC charges interest rates based on risk premium, operational expenses, credit costs, expected profitability, cost of funds, etc.

Fees and Charges of Five-Star Business Loan

Processing charges

Five-Star Business Finance charges a processing fee of up to 2% of the loan amount plus taxes.

Pre-closure charges

If pre closure is made after completion of 12 months from the date of loan disbursal	NIL
If loan is prepaid within 12 months of the disbursal date	1% of the prepaid amount

 Other fees and charges

Legal and inspection charges	Up to Rs 2,000 per loan
Penal interest	3% per month for delayed amount and for delayed period only
MOD registration expenses	At actuals
Cheque return	Rs 300 per return
ECS/ NACH bounce	Rs 500 per return
DD for disbursement	At actuals
Collection Pick up charges/ Recovery Visit charges	Rs 100 per visit + GST
EC	At actuals
Stamp duty	At actuals
Document charges	Up to Rs 2,000 per loan + GST
Document storage related charges	Rs 500 per loan + GST
Insurance premium	At actuals

Eligibility Criteria of Five-Star Business Loan

Five-Star Business Finance Limited offers business loans to the following individuals:

• Self-employed individuals
• Micro-entrepreneurs

Five-Star Business Loan Documents Required

For resident individuals:

PAN Card/Form 60 (mandatory) plus any one of the below mentioned documents:

• Passport
• Voter’s identity Card issued by Election Commission
• Driving License
• Job card issued by NREGA duly signed by an officer of the state govt.
• The letter issued by the national population register containing details of name and address
• Digital KYC – the customer identity can be verified through capturing a live photo of the customer
• Proof of Possession of Aadhar number with Aadhaar number stricken.

For partnership firms:

• Registration certificate, if registered
• Partnership deed
• An officially valid document in respect of the person holding an attorney to transact on its behalf

Proof of business activity (any two of the following):

• Name, address and activity proof of the concern, like registration certificate (in case of a registered concern),
• Certificate/license issued by municipal authorities under the Shops & Establishments Act
• Sales and income tax returns,
• CST/GST/VAT certificate (provisional or final)
• Certificate/registration document issued by sales tax, service tax or professional tax authorities
• Importer Exporter Code (IEC) issued to the proprietary concern by office of DGFT /Licence/certificate of practice that is issued in the proprietary concern’s name by any professional body incorporated under a statute
• The complete income tax return (not just acknowledgement) in the sole proprietor’s name where the firm’s income is reflected, duly acknowledged/authenticated by income tax authorities
• Utility bills such as electricity, water and landline telephone bills.