IDFC First Bank Business Loan

IDFC First Bank is the merged entity of IDFC Bank and Capital First which is effective from December 18, 2018. IDFC First Bank Business Loan is an unsecured loan which offers financial relief against all kinds of business needs. With IDFC First Bank Business Loan, you can meet the needs of working capital, upgrade the machinery, expand the existing business or set up a new one and so on. You do not have to mortgage anything to obtain IDFC First Bank Business Loan. You can avail IDFC Bank Business Loan up to Rs. 30 lakhs and repay it with easy EMI option. IDFC First Bank Business Loan interest rate is quite competitive and is dependent on your repaying ability and credit history. If you have a minimum CIBIL score of 750 or above and satisfy IDFC First Bank Business Loan eligibility criteria, then IDFC First Bank Business Loan interest rate will be quite low. You can go for IDFC First Bank Business Loan apply online to enjoy a hassle-free loan experience. You have to go for minimal paperwork when applying for IDFC Bank Business Loan.

Why would you choose IDFC First Business Loan?

IDFC First Bank Business Loan offers business installment loan to self employed and other related entities at a competitive interest rate. IDFC First Bank Business Loan offers the tailor-made product to suit different kinds of business needs. To provide financial aid to micro-enterprise, IDFC First Bank SME Loan offers ‘Vyapaar Vriddhi’ collateral-free loan. You can also use IDFC First Bank Business Loan balance transfer to pay a lower interest rate on your existing loan. To avail IDFC First Bank Business Loan at an attractive interest rate, you need to fulfill IDFC First Bank Business Loan eligibility. You can easily repay IDFC First Bank Business Loan with monthly installments within a flexible tenure up to 60 months. Here are the crucial points as to why would you choose IDFC First Bank Business Loan-

Whether you are self-employed professionals or non-professionals, IDFC First Bank Business Loan can easily be obtained at a competitive interest rate.
IDFC First Bank Business Loan offers customized loan products to address varying business needs.
You can check IDFC First Bank Business Loan status after you go for IDFC First Bank Business Loan apply online.
Based on IDFC First Bank Business Loan eligibility which is very minimal, you are charged IDFC First Bank Business Loan interest rate at a lucrative rate.
IDFC First Bank Business Loan offers collateral-free loan EMI based with flexible loan tenure up to 5 years.
In order to financially support micro-enterprises, IDFC First Bank SME Loan offers ‘Vyapaar Vridhhi’ from Rs. 25,000 to Rs. 5 lakhs without any collateral.
You need to submit very minimum documents when you are applying for IDFC First Bank Business Loan.
Very low processing fee is charged against IDFC First Bank Business Loan.

Types of IDFC First Bank Business Loans

IDFC First Bank Business Loan offers customized loan products to address almost all kinds of business needs. So, following are the different types of IDFC First Bank Business Loan-

Loan to Non-Individual

Entities like- private limited companies, partnership firms, closely-held limited companies, proprietors, traders, and manufacturers can easily opt for IDFC First Bank Business Loan to non-individual. The entities can avail loan up to Rs. 30 lakhs at an attractive interest rate with a loan tenure up to 48 months.

Loan to Doctors

Medical professionals like BDS, MBBS, and MDS can avail collateral free loan up to Rs. 40 lakhs at a competitive interest rate. The loan for doctors requires minimal paperwork and can be repaid within 60 months.

Loans to Self-employed Professionals

The self-employed professionals like Architect, Company Secretary, and CA can obtain collateral-free loan amount up to Rs. 25 lakhs at an attractive interest rate. This loan can be repaid within a flexible tenure up to 48 months and require very simple paperwork.

IDFC First Bank SME Loan

IDFC First Bank SME Loan offers immediate finance without any mortgage at a reduced interest rate. IDFC First Bank offers ‘Vyapaar Vriddhi’ the micro-enterprise loan aims to lower the demand-supply gap. Under the IDFC First Bank SME Loan, micro-enterprises like textile, retails, masonry, handlooms, etc. can avail loan amount up to Rs. 5 lakhs. Small and medium enterprises are the backbone of rural employment can easily seek IDFC First Bank SME Loan to suit all kinds of financial needs.

IDFC First Bank Business Loan Eligibility Criteria

You need to have a minimum CIBIL score of 750 or more with a decent repaying capacity to satisfy IDFC First Bank Business Loan eligibility.

Age	23-65 years
Loan Amount	Up to Rs. 30 lakhs
Business Eligibility	Self-employed Non-Professionals- Partnership firms Public & Private ltd. companies, Proprietors, Manufacturers, traders etc. Self-employed Professionals- CS, Doctor, CA, Architect, etc.
CIBIL score	750 or above
Business Continuity	Self-employed non-professionals- 3 years Self-employed professionals- 3 years
Loan Tenure	3 years for self-employed non-professionals 5 years for self-employed professionals
Business Turnover	Rs. 40 lakhs or more
Business Profit	Must be positive for last 2 years

IDFC First Bank Business Loan Document Requirements

Following are the important documents that are required for IDFC First Bank Business Loan-

Application form
ID proof- Passport, AADHAAR card, Driving License, Voter ID card
PAN card for Firm or Company
Proof for Business continuity- Trade License/Sales Tax Certificate/ITR/Establishment
Latest ITR copy, Audited Balance Sheet, Profit & Loss statement of the last 2 years
Bank Statement for the last 6 months
Residential proof- Driving License, AADHAAR card, Passport, Voter ID card
Compulsory documents- Partnership Deed/Sole Proprietorship Declaration/Memorandum and Articles of Association.
Passport size Photograph

IDFC First Bank Business Loan Interest Rate & Charges

Rate of Interest	18%*
Pre-payment Charges	3% of the principal outstanding (prepayment is allowed post 3 EMIs)
Processing Fees	Up to 1.50% of the loan amount

*interest rate value varies from time to time

Other Bank’s and NBFC’s

FAQ’s

IDFC First Bank Business Loan offers three different variants- Loans to Doctors, Loans to Non-Individuals and Loans to other Professionals.

The micro-enterprises can avail a loan amount from Rs. 25,000 to Rs. 5 lakhs when going for IDFC First Bank Business Loan.

You can easily repay IDFC First Bank Business Loan within a flexible tenure of 60 months.

To apply for IDFC First Bank Business Loan, you need to have a minimum CIBIL score of 750 or more.

To prove business continuation, you need to submit ITR copy, Sales Tax Certificate or Trade License when applying for IDFC First Bank Business Loan.