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Get secured business loans with affordable interest rates with Tata Capital. Verify eligibility criteria and apply today
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Multipurpose loans
You can secure a business loan in Visakhapatnam and use it to grow your business in all respects. This includes buying machinery, hiring staff or even expanding your venture.
Relaxed eligibility requirements
Securing a business loan is as easy as it gets, thanks to the relaxed eligibility requirements at Tata Capital.
Higher loan amounts
At Tata Capital, we help you secure business finance for your business needs no matter how large or small they are. You can easily get loan amounts of up to 90 lakhs without pledging collateral.
Loan Amount
₹ 0.40 lakh to ₹ 90 lakhs
Loan Tenure
12 to 60 months
Self-Employed Non-Professional Interest rate starting @
15%-25%
Self-Employed Doctors Interest rate starting
@ 12.00%-15.00%
Self-Employed Professional Other than Doctors Interest rate starting
@ 13.00%-17.50%
Looking to start your own business? Here are the various government loan schemes to help women entrepreneurs start their new ventures
Some factors that determine your Business Loans interest rates in Visakhapatnam include your financials, credit score, business plan, profitability, cash flow, annual turnover, and more. In fact, having a high credit score can help you get a lower interest rate since it reflects a better loan repayment ability on your end. This, in turn, lowers the amount you spend on your loan EMIs too.
If you are searching for a business loan in Visakhapatnam at a low interest rate, your search ends with Tata Capital. We offer business loans at an affordable interest rate of 19% and even make the EMIs convenient for you with our flexible repayment plans.
So, what are you waiting for? Enjoy the lowest business loan rates in Visakhapatnam with Tata Capital and set up your business smoothly.
The Business Loans eligibility criteria at Tata Capital are as follows
When you get a business loan in Visakhapatnam, you pay it off in the form of equated monthly instalments or EMIs. These depend on three factors namely the loan tenure loan amount and the interest rate. And at Tata Capital, we allow you to choose your business loan EMIs to make your loan repayments more convenient.
Calculating your business loan EMIs can help you choose the best repayment plan. And the easiest way to do it is to use our online Business Loans EMI calculator. Just enter your business loan details like amount, tenure and interest rate and calculate your loan EMI in seconds. If the EMI is too high, change the loan tenure to arrive at a business loan EMI in Visakhapatnam you can easily pay every month.
You can apply for business loan in Visakhapatnam with Tata Capital in the following ways too.
Via phone
Give us a call on our customer care number at 18602676060. Our customer care executive will get in touch with you.
Virtual assistant
Use help from our online virtual assistant fill out your online business loan application.
Offline
Head to our branch and complete the business loan application formalities offline. Our on-site lending experts will guide you through the entire process.
Here’s why our Business Loan is the perfect match for you:
You can repay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.
Business loans are available to both professionals and non-professionals that are self-employed. Business loans interest rates are highly competitive and are typically approved quickly. The following types of companies can secure business loans –
Sole proprietorship
Partnership firm
Private limited companies
Closely-held public limited companies
Societies
Trusts
Hospitals, nursing homes, diagnostic centres, pathological labs
A typical structure of a business loan involves a lending institution extending capital to a business owner, for which interest is charged. The business owner must pay back the business loan amount along with the applicable interest, in the form of Equal Monthly Instalments (EMIs), over a predetermined period of time known as loan tenure.
Three core components make up a business loan –
To avail a business loan, one must ideally have a CIBIL score of 700 or above. The same is true for both self-employed professionals such as doctors and engineers as well as self-employed non-professionals such as suppliers or manufacturers.
CIBIL or credit score plays a huge role in determining business loan eligibility. Since a company’s CIBIL score is its credit footprint, it enables lenders to know the timely repayment ability of the business loan applicant.
Business loans are typically short-term loans. Though business loan tenure may differ from lender to lender, most lending institutions extend business loans for a tenure ranging from 12 months to 36 months.
Lending institutions offer different types of business loans, designed to meet specific needs. They are as follows –
Machinery loans – Machinery loans are designed exclusively to meet the expansion needs of businesses via the purchase of advanced machinery and equipment.
MSME/SME loans – Designed to encourage the growth of small and medium-sized business enterprises, MSME/SME loans is a credit facility that can be availed for purchasing equipment, meeting operational expenses, and upgrading infrastructure.
Business loans for women – These loans are extended to women business owners to help them expand their business and push them towards financial independence.
The amount of business loan EMI that you will be required to pay towards the repayment of your business loan will largely depend upon three factors, as given below –
Principal loan amount – The higher the principal amount, the higher will be the EMI amount you will need to pay.
Rate of Interest – The higher the rate of interest, the higher will be the EMI amount you will need to pay.
Loan Tenure – The EMI is inversely related to the loan tenure. The shorter the loan tenure, the higher will be the EMI amount you will need to pay.
For a quick and accurate assessment of your business loan EMIs, use a handy online tool such as the business loan EMI calculator.
You can get a business loan from the lending institution of your choice in a number of ways, depending upon your convenience and the options offered by your lender.
Visit a nearby branch
Apply online via the lender’s website
Talk on call with the lender’s relationship managers
Send an email to your lender’s customer support mail address
Use the lender’s 24x7 virtual assistant feature
To avail a business loan with Tata Capital, simply apply for a business loan online or call on 1860-267-6060. You can also mail us at contactus@tatacapital.com or visit any of our branches.
Yes, just as your CIBIL score has a say in your business loan approval, your repayment of the business loan will affect your future credit score. Timely payment of loan EMIs will pose you as a low-risk borrower in the eyes of future lenders and hence, will enhance your CIBIL score.
Business loans can be availed for a variety of reasons. You can use different types of business loans to purchase infrastructure for expanding operations, to increase production via the purchase of new and advanced machinery, to purchase and store inventory in advance of seasonal sales, to build a workforce of skilled employees, and to increase working capital.
Yes, you can get a business loan without any collateral or security.
You can take an online business loan for your online retail store or e-commerce website. You must fulfil the following criteria for swift online business loan approval:
CIBIL score should be above 700
Your business must be profitable for three consequent financial years
Your turnover must show an upward trend
A CA should audit your balance sheet
Business owners have business and personal credit.
Loans for sole proprietorship and partnership businesses are guaranteed by an individual. So, the loan is reflected in your personal CIBIL report. However, if your company’s structure is LLC, then the business loan affects only the business’ CIBIL score.
Any interest levied on a business loan is exempt from taxation. This is because the interest paid is considered to be a business expense and not revenue. Registering as an MSME can also help you avail of business loan tax benefits on excise and other charges.
However, the principal amount is not tax-deductible.
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