Why is a business loan so important in today’s time?
Is it because…
There is a need for sufficient working capital?
There is a need for new machinery and equipment?
There is a need to grow and expand the business?
If the answer to any of the above questions is a YES, then taking a business loan is a valid choice. You can use a business loan to clear any of your business related problems. It can be used to buy new machinery and equipment which has more safety for your labor. It can also be used to grow and expand your business from local boundaries to national or even international markets. It can also be used in situations where working capital is not sufficient. For any business, an adequate working capital is needed.
Business loan requirements are different as per the different banks in the market. Once the business person can fulfill his business loan eligibility, he can apply for a business loan in Mumbai or any other location in India.
Business loan interest rates are focused on by all the lenders in the market. By providing attractive interest rates and deals, banks aim to lure customers into coming and taking a business loan from them. Since there are many such banks in the market, we have compiled a list of banks with business loan interest rates as of August 2018;
| Bank Name | Interest Rate * |
| Axis Bank | 15.50-24.00% |
| Capital First | 13.00-20.00% |
| Capital Float | 18.00% onward |
| Citibank | 15.99% onward |
| Edelweiss | 18.25% onward |
| Fullerton | 16.00% onward |
| HDFC Bank | 15.50-18.30% |
| ICICI Bank | 12.90-16.65% |
| IndusInd Bank | 14.00% onward |
| Kotak Bank | 16.00-19.99% |
| Lending Kart | 18.00% onward |
| Standard Chartered Bank | 13.50-20.00% |
| Tata Capital | 18.00% onward |
Why you can choose Ruloans?
Ruloans has been in the loan industry with over a decade of experience. Our support staff can help you with all of your loan inquiries, documentation and guide you throughout the loan process until the amount is disbursed. We provide these services free of cost.
