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Business Loan Interest Rates And Charges

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    • 1

    What is the Interest Rate on a Business Loan?

    Our business loan interest rates start at 19% are competitive amongst the other players in the industry. However, depending on loan eligibility, income, your business and other criteria, we determine the best interest rates for your business loan requirement.

    When you apply for a Business Loan with Tata Capital, you do not have to worry about any hidden charges. Whether it is related to processing fees, foreclosure charges, or delayed EMI Payments, all information is transparently-provided for smooth processing of your Business.

    Business loan interest rates are the proportion of the loan amount a financial institution charges as interest to the borrower. The rate is usually expressed as an annual percentage. For business loans, the interest rate is applicable on the principal amount.

    Here are the Tata Capital business loan rates in 2021

    Loan Type Interest Rate
    Business Loan 19%

    How to Calculate Interest on Business Loans?

     The loan you avail of comes at a cost, which is essentially the business loan rate amount charged by the lender on the principal sum for a fixed tenure. Here, the interest rate is expressed in a percentage of the principal.

    The nominal business loan interest is calculated by multiplying the outstanding loan amount per day by the loan’s interest rate that is assigned by the lender, considering various factors that impact the rate.

    However, this business loan rate doesn’t cover the penalty, pre-closure fee, processing fee, and other applicable charges that your lender may levy on the loan separately.

    What are the Business Loan Interest Rates for Self Employed?

    Customer Profile ROI % Processing Fees %
    Self Employed Non-Professional 16.50% Onwards 2.00% Onwards
    Self Employed Doctor & Professional 13.50% Onwards 1.50% Onwards

    *Final ROI and Processing Fees may vary based on assessment program and Loan amount 

    What Are the Factors Affecting Business loan Interest Rates?

    • CIBIL Score

    CIBIL score is a critical factor in getting loans at a competitive rate of business loan rates. A healthy CIBIL score depicts strong repayment capability and creditworthiness, and the lender considers you as a low-risk borrower.

    • Company Tenure

    Whether you are a small or a mid-sized organisation, you must have an excellent track record of being in business and handling credit and timely repaying it for years. With such business experience, you will easily qualify for lucrative MSME loan interest rates to further expand your venture.

    • Annual Turnover

    Your annual business turnover significantly affects your rate of business loan interest. The higher your business turnover is, the lower the business loan interest rates will be, therefore lowering your EMI amount.

    • Revenue and Profit

    Before deciding your rate of business loan interest, the lender always checks your business’s monthly, quarterly and annual revenue. Decent or profitable trends and healthy business financials assure lenders that you are less likely to default on your EMIs, which means you get charged lower business loan rates.

    What are Business Loan Processing Fees?

    The processing fee is the amount charged on your business loan application as a one-time charge for the entire loan process. The processing fees usually comprise the charges required to review your CIBIL score, check for business loan approval, and other administrative costs.

    What are Business Loans Charges?

    Business Loan charges include costs for cheque bounce, mandate rejection service, CCOD annual maintenance, document processing, outstation collection, foreclosure, and more.