Business Loan Eligibility
Business loan eligibility is evaluated by considering multiple factors including your credit score, age, income, occupation and employer’s profile. Meet the easy eligibility parameters and complete your basic documentation to avail the Business loan you need within 24 hours of approval
Business Loan Eligibility Criteria
| Criteria | Salaried | Self-Employed |
|---|---|---|
| Age (Primary applicant) | 23 years to 55 years | 23 years to 55 years |
| Citizenship | Must be a citizen of India. | Must be a citizen of India. |
| Net Monthly Income | ₹25,000 | ₹50,000 |
| Loan Tenure | Up to 5 years | Up to 5 years |
| CIBIL score | Above 700 | Above 700 |
| Minimum Loan Amount | ₹ 1,00,000 | ₹ 1,00,000 |
| Maximum Loan Amount | ₹ 25 lakhs | ₹ 30 lakhs |
| Work experience | Employed at the current employer for 6 to 12 months | Business tenure of 3 years (continuous) & ITR of last 3 years. |
Note: *The instant Business loan eligibility criteria vary among bankers.
* Note:Wherever the details regarding interest rates, processing fees and tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.