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Unsecured Business Loan
- Short-term Loans
- Approvals with 100% digital process
- Loan up to ₹10 lakhs without collateral
Reasons to Buy your Unsecured Business Loan
from Aditya Birla Finance Limited
No Branch Visits
Apply from home and our team will collect the required documents from your home or office for a seamless experience.
Collateral-free Loans
Get the loan without the need for collateral. Share key details and receive instant approval for business growth.
Instant Loan Disbursal
Get instant disbursal, thanks to our efficient online processing
Convenient Online Application
Apply online in just three simple steps. No need to wait for months or go anywhere.
Flexible Tenure
Tailor your repayment plan to suit your financial goals with our flexible tenure options, ranging from 12 to 36 months.
Get An Unsecured Business Loan In 4 Easy Steps
Identify your needs
Check your loan eligibility
Upload required documents
Get loan disbursed instantly
04
Get loan disbursed instantly
Business Loans Interest Rates
Get the best rates to take your business to the next level!
| ROI | 21% - 29% |
| Processing Fees | 2.75% - 3% |
Unsecured Business Loan Eligibility
Eligibility criteria
- Constitution Type Self Employed Individuals, Proprietors
- Age 21 – 65 yrs (at the time of loan maturity)
- Business Vintage 1 year and above
- Business Turnover More than Rs.5 lakhs for the last 6 months
- Credit Score 650 and above
Documents needed
- Proof of identity and address | Aadhaar Card and PAN
- Proof of business | Valid business proofs
- Bank or GST statement | Bank Account statements of last 6 months or GST statements of last 2 years
Fees & Charges
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹1000 + GST per instance |
| Default Penal charges | 3% of pending amount per month |
| Charges for cancellation of Loan |
4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan re – schedule charges | ₹7500 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual if applicable |
| Pre – closure Quote | ₹2500 + GST per instance |
| Any other charges | As per Actual if applicable |
| Part - Pre Payment Charges |
4% + GST on Remaining Loan amount
Conditions A) No pre-payment is allowed in first 6 months from the date of disbursement B) Part - Payment amount should be equal to OR greater than total of 3 EMIs. C) In the first year of loan tenure, part-prepayment is allowed only once. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
Customer Satisfaction Stories
Don’t just take our word for it. Hear from our customers about their successful financial journey with us
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Finance Customer
Belapur, India
Aditya Birla Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Finance Customer
Hyderabad, India
Aditya Birla Finance Customer
Easily check credit score with Credit Track
-
Decide wisely with credit stimulator -
Get personalised loan offers
Efficient money management with Spend Track
-
Keep track of your expenses
-
Track inflows and outflows
FAQs on Unsecured Business Loan
Unsecured business loans are financial solutions crafted to support small businesses and aspiring entrepreneurs in swiftly addressing their capital requirements. Whether you are launching a new venture or aiming to expand an existing one, an Unsecured business loan serves as a quick and efficient means to secure the essential funds. By opting for such a loan, you gain immediate access to the capital necessary for covering various expenses, including initial setup costs, ongoing operational expenditures, and other crucial aspects of rapid business development.
If you are a self-employed individual, whether a professional or non-professional like a trader, manufacturer, or service provider, securing an online business loan in India is easily attainable. Additionally, entities such as LLPs, partnership firms, and private limited companies can apply for small business loans.
Yes! An instant business loan provides the flexibility to utilise the funds for various business needs such as inventory acquisition, bill payments, staffing, or business expansion. However, it is crucial to exercise prudence and allocate the funds solely for business-related expenses to prevent unwarranted debt.
Yes! People with poor credit history can also apply for a loan but it may incur high interest rates and fees compared to those with a better credit history.
If you are unable to repay the loan as per the deadline, please communicate the same to us. We may offer alternative options like payment plan, loan extension, or refinancing. It's important to note that non-repayment may impact your CIBIL credit score, incur additional charges, and could lead to legal action.
ABC Of Unsecured Business Loans
Other Products
Secured Business Loan
Take your entrepreneurial journey to the next level with a low-interest, long repayment period secured business loan.
Know More