Check Free CIBIL Score Online

ZipLoan Business Loan Interest Rates

Highlights

  • Get business loan at attractive interest rate from 23% -29%
  • Know factors affect business loan interest rates.
  • How Rate of Interest Affect EMI Amount.

ZipLoan Business Loan Interest Rates – If you Cibil score is not good and no bank is funding so no need to worry. It provides business loans to loans for Cibil -1 or 1 to 5 or no credit history. Ziploan calculate the eligibility on the financial basic, bank accounts, business transactions and many more.Get loan disbursed within 3 days to our current or savings account after completion of documents with tenure of 12, 18 and 24 months.

ZipLoan Business Loan Interest Rates Details

ParticularsDetails
Interest Rate23%-29% (Reducing)
Prepayment ChargesNIL
Processing Fee3% of the loan amount
Loan Amount₹ 1 Lacs- ₹ 5 Lacs

Main Factors that Affect Business Loan Interest Rates

Nature of Business – The nature of business should be positive. Even if you are running any business for a long time. As your business gets more opportunities for loan approval and interest rate will be less. Borrowers have been in the same business for many years with the option of obtaining a lower interest rate.

Business Vintage – Business vintage plays an important role. If your business has been running for many years, then it shows the stability and potential of the business. If you have a high business vintage, lenders see a lower risk of default and higher repayment capacity and therefore a lower interest rate.

Business Annual Turnover – The lender always calculates the eligibility based on the turnover of your business. This can be monthly or annual turnover. So higher turnover of your business reflects your business financial positive of the business. So with high turnover one can negotiate interest rates from lenders.

People Also Look For  Wanna Know How Business Loan Can Be a Boon For You? Read Here

Collateral – As all banks and financial institutions provide collateral free loans. So the Ziploan provides both secured and unsecured business loan. If you provide any type of collateral then it reduces your interest rate and if you do not provide any collateral interest charges can be high.

Therefore, before implementing the business loan there are some major factors that the borrower should know how to reduce the interest rates from the total cost credit.

How Does the Rate of Interest Affect EMI Amount?

You can see how the rate of interest fluctuates in the EMI amount from the table below. To calculate EMI, you can use the Ziploan Business Loan EMI calculator.

Principal AmountInterest RateTenureEMI ( Equated Monthly Installment)
₹ 100,00023%24 Months ₹ 5237.33
₹ 100,00029%24 Months₹ 5539.94
₹ 300,00025%24 Months₹ 16011.46
₹ 300,00029%24 Months₹ 16619.81
₹ 500,00028%24 Months₹ 27444.25
₹ 500,00029%24 Months₹ 27699.68

Now you can see in the above mentioned table that tenure and principal amount are same but interest rate fluctuation is manipulating EMI amount.

Eligibility to Avail Ziploan Business Loan

  • Borrower minimum age is 23 years.
  • Maximum age is 65 years.
  • Business vintage will be 2 Years.
  • Business and office residences will be separated.
  • Latest 2 years ITR (Income Tax Return) and it should be ₹ 2.5 Lacs per year.

Free CIBIL Score Buy 24K 99.9% Pure Digital Gold Online
Personal Loan Interest Rates July 2020
Fullerton India14.00% - 33.00%
HDFC Bank10.75% - 21.45%
ICICI Bank10.99% - 18.49%
IndusInd Bank11.25%
Kotak Bank10.99% - 20.99%
RBL17.50% - 24.00%
Standard Chartered Bank11.50% - 18.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates July 2020
Axis Bank7.75% - 8.55%
Bank of Baroda6.85% - 7.85%
Citibank8.20%
HDFC7.55% - 8.45%
ICICI Bank7.45% - 8.55%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank7.40% - 9.70%
LIC Housing7.40% - 8.85%
Piramal Capital & Housing Finance9.00% - 9.10%
PNB Housing Finance8.60% - 9.45%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI7.35% - 8.00%
Tata Capital9.20% - 9.35%