Business Instalment Loan FAQs

Q: What are the key features of Business Instalment Loan?

&lt;p&gt;If you are looking at hassle free, fast processing with simplified documentation with no collateral to be offered, then Business Instalment Loan is just the product for you.&lt;br&gt;&lt;/p&gt;

Q: Who can avail Business Instalment Loan?

&lt;p&gt;Business Instalment Loan can be availed by small and micro enterprises engaged in manufacturing and processing, preservation of goods or rendering services.&lt;br&gt;&lt;/p&gt;

Q: What are the loan tenure options available?

&lt;p&gt;Business Instalment Loan can be availed for a tenure of 15 months, 24 months or 36 months.&lt;/p&gt;

Q: What is the minimum and maximum loan amount which can be availed under Business Instalment Loan?

&lt;p&gt;The minimum and maximum loan amount which can be availed under Business Instalment Loan is Rs. 10 lakhs and Rs. 50 lakhs respectively.&lt;/p&gt;

Q: We are a start-up firm, can we avail of this loan?

&lt;p&gt;Business Instalment Loan is not offered to start up as the minimum business vintage of 3 years in the same line of business and business operations in the same city is required. Two years of audited financials would be required to be submitted to avail of this loan.&lt;br&gt;&lt;/p&gt;

Q: Can I part or prepay the loan?

&lt;p&gt;Prepayment is allowed only after nine months from the date of disbursal. No part payment is allowed.&lt;br&gt;&lt;/p&gt;