All you need to know about Startup loans
At loanzBazar applying for your startup loan is easy, simple and hassle-free.
The startup loans can ve very beneficial for your business to fulfil all your capital requirements. You can get your start-up loan in less than 24 hours. We at LoanzBazar ensure your loan sanction within a few hours if you qualify for all the eligibility conditions.
Some common parameters to grant loans are the age of the applicant which should not be less than 21 years and more than 65/70 years. Your business should have ventures running successfully for two years, The banks will grant you a startup loan if the company’s minimum annual company crosses a fixed amount according to the bank policies. Banks and loan providers also set a strict CIBIL score limit to screen eligible applicants.
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Making LoanBazar your first choice for a startup loan:
LoanzBazar guarantees the fastest loan approval and transfers within 24-36 hours after screening the required documents and your application.
With the fastest and most convenient loan approvals, LoanzBazar always offers options for repayment in EMIs. You get to pay any way you want only after 6 months of the money transfer.
At LoanzBazar you can take a loan from anywhere between Rs 50,000 to Rs 10,00,000 and use it for the growth of your company.
You can repay your loan amount with interest within 6 months to 5 years by opting for LoanBazar’s services.
When you are opting to take a loan with LoanBazar you won’t be worrying about documents. For a startup loan, you just need to show some basic documents.
The loan process at LoanBazar is completely transparent. You do not need to pay any processing fee or other charges while applying for a startup loan.
This loan is granted to people seeking capital to utilise in their business and not for their personal use. At LoanzBazar you can apply for loans and get them approved without having to go through any hassle.
The interest rate at different banks differs so you need to compare which one suits your business needs better. At HDFC the interest rate is 11.90% for a loan amount between Rs 50,000 to Rs 50,00,000. Whereas at Axis bank for a loan amount of Rs 50,000 to Rs 75 lakhs the interest rate for your start-up loan is 14. 25% for a repayment tenure of 5 years. The interest rate at the State Bank of India is the lowest at 11.20% for a loan amount of Rs 5 lakhs to Rs 100 crore.
|Bank Name||Rate of Interest for Salaried Employee|
|HDFC Bank||10.99% - 17.85%|
|Axis Bank||11.99% to 24%|
|ICICI Bank||10.99% - 17.85%|
|Standard Chartered Bank||11% - 16%|
|IndusInd Bank||14% - 16%|
|Kotak Bank||11.50% - 24.00%|
|Bajaj Finance||14.25% - 16.75%|
|HDB Finance||14% - 21%|
|Fullerton Finance||13.00% - 24.00%|
|State Bank of India||11.00% - 17.65%|
|IDFC Bank||10.99% - 17.85%|
|IDFC Bank||10.99% - 17.85%|
|Tata Capital||13.50% - 18%|
|Yes Bank||12.50% - 16.00%|
You can get your start-up loan within 2-3 days and sometimes even within a few hours through LoanzBazar if all your documents are ready and get approved according to bank policies.
At LoanzBazar you don’t have to pay anything, there are no extra charges for applicants applying for a startup loan.
You can repay anytime between 6 months to 5 years. At LoanBazar you will be able to conveniently pay back in enough time.
Yes, you can get a start-up loan if your company qualifies for all the conditions banks have provided.
Yes, you can get a start-up loan if your company is venturing for more than 2 years and have a certain fixed annual income.