ZipLoan Business Loan
Last Updated : Feb. 6, 2023, 5:43 p.m.
Thinking of taking a loan, Ziploan gives you unsecured business loan to fulfill your daily basic needs. To take a business loan from Ziploan, you need minimal documents and its process is hassle free. Its offers different types of loan like construction loan, term loan and business loan for traders without any security. The loan can be avail from 1 lac to 5 lacs with attractive rate if interest. You can opt MSME loans and SME loans to increase your working capital.
ZipLoan Business Loan Interest Rates
| Particulars | Details |
|---|---|
| Rate of Interest | 23.00% - 29.00% Reducing |
| Loan Amount | 1 Lacs to 5 Lacs |
| Processing Fee | 3.00% of Loan Amount |
| Tenure | 12 Month to 24 Months |
ZipLoan Business Loan Eligibility Criteria
- The applicant minimum age is 23 years and maximum age is 60 years at the time of loan maturity.
- The borrower must have a good cibil score to avail business loan. A cibil score of minimum 650 is daid to be satisfactory.
- The business must have a minimum turnover of Rs.10 Lacs in the last 12 months to get a loan for business.
- The business must have the filled the 2 years ITR of more than Rs. 2.5 Lacs.
- To get small business loan, the business have different business premise then the house premise.
- For quick business loans, the business must be in operation since last 2 years at least.
ZipLoan Business Loan EMI Calculator
| Loan Amount | Loan Tenure | Interest Rates | EMI | Total Interest Outgo | Total Amount ( EMI+Interest ) |
|---|---|---|---|---|---|
| Rs. 5,00,000 | 6 Month | 23% - 29% | Rs. 89,013 - Rs. 90,523 | Rs. 34,073 - Rs. 43,133 | Rs. 5,34,073 - Rs. 5,43,133 |
| Rs. 5,00,000 | 12 Months | 23% - 29% | Rs. 47,039 - Rs. 48,498 | Rs. 64,458 - Rs. 81,976 | Rs. 5,64,458 - Rs. 5,81,976 |
| Rs. 5,00,000 | 18 Months | 23% - 29% | Rs. 33,108 - Rs. 34,506 | Rs. 95,930 - Rs. 1,22.535 | Rs. 5,95,930 - Rs. 6,22,535 |
| Rs. 5,00,000 | 24 Months | 23% - 29% | Rs. 26,187 - Rs. 27,700 | Rs. 1,28,480 - Rs. 1,64,793 | Rs. 6,28,480 - Rs. 6,64,793 |
ZipLoan Business Loan Types
Machinery Loan – As we know that machinery is the main asset for increasing the business. This loan helps for the various purpose like high production, improves the quality of the products, enhanced profit, fast turn around time, lower setting up times, remains profitable and competitive.
Working Capital Loan – A working capital loan is a loan that is taken for carrying out the everyday tasks of the company. Ziploan business loan provides unsecured working capital loan to SMEs and MSMEs.
Flexi Loan – Flexi loan is the loan where you can get access to the approved loan limit based on your credit rating.
Term Loan – A term loan is a loan from a bank for a specific amount with a specified repayment schedule and a fixed or floating interest rate.
ZipLoan Business Loan Documents Required
KYC Documents:-
- Pan Card ( Individual, Partnership firm and company)
- Colored passport size photograph of borrower and co-applicant.
- Identity Proof ( Pan card, Passport, Voters Id, Driving License, Aadhar Card.
- Address Proof ( Aadhar Card, Driving License, Voter Id, Utility Bills, Registered rental agreement, Passport Copy)
Financial Documents
- 2 year ITR (Income Tax Return) only fist page.
- Ownership proof
- 12 months bank statement either saving account or current account.
- Partnership Deed and Partnership authority letter for Partnership firms.
- Business Continuity Proof – Anyone document dated 1 year old ( Bank Statement / Sales Tax Challans / GST / Gumasta License / Trade License / IT Returns / Shops & Est.Certificate / Certificate of Incorporation.
- Mandatory documents for Sole Prop. Declaration or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Article of Association (Certified by director) & Board resolution (Original)
ZipLoan Business Loan Features
- This loan does not depend on your cibil score . It has developed its own composite credit rating process called “ZipScore”
- You can apply the business loan through its website or app or you can submit PDFs of business loan documents online.
- Business loan interest rate are the best in the market. It charge only 3% of the business loan amount as a processing fee.
- After successful payment of 3 EMIs there will be no charge for prepayment of business loans.
- You can also club all bank statements so that you can get maximum loan amount.
- It do not require a long list of documents that make the loan process hassle free for the small business owner.
- It offers various business loan products like machinery loan, working capital loan, Flexi loan, Term Loan and capital loan. You can avail business loan according to your needs.