The sme business loan is the best way to scale up your business footprint. As compared to unsecured loans, the sme business loan interest rates are lower. Apart from this, a few other charges and fees are applicable over and above the interest rates when you apply for a business loan.
At IIFL Home Loans, the interest rate of a Secured Business Loan starts at 10.75%* and may vary depending on several factors. When it comes to additional charges associated with the loan type, it is as follows:
|Type of Interest Rate||
Starting from 10.75%*
|Processing Fees||Up to 2%|
|Late Payment charges||18% per annum of outstanding EMI|
|Collateral evaluation charges||Starting from Rs. 5000*|
Please get in touch with our customer care representative to know details about our collateral business loans.