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Business Loans for
Self Employed Non Professionals

Banking Solutions for MSMEs

Unsecured Business Loan for Self Employed Non Professionals

Collateral free loans are exclusively designed for MSME Customers like manufacturers, traders, wholesalers, retailers and service providers with nominal documentation. This program caters to serve their urgent financial needs, scaling up with business operation and opportunity to expand scale of operations.

  • Collateral free i.e. no property security, no hypothecation
  • Loan amount can be availed for minimum Rs. 3 lakhs up to Rs. 75 lakhs
  • Higher loan tenure up to 36 months
  • Flexible repayment options available
Business Vintage
  • Minimum 3 years
Business Turnover
  • Min Rs. 30 lakhs for latest year
  • Minimum 21 years at the time of loan application
  • Maximum 65 years at the end of loan tenure
Minimum Income
  • ITR income Rs. 2.50 lakhs for 2 years each
Residence / Office Stability
  • Either office or residential property is to be owned
  • KYC
  • Last 2 years Balance sheet
  • Last 2 years Profit & Loss statement
  • Last 2 years of ITR filed
  • Last 1 year banking statement
Loan Processing Charges

Up to 2% + applicable taxes

Part Pre-payment Charges

2% + GST on amount prepaid

Foreclosure Charges
  • Up to 24 months – 4% of principal outstanding + GST
  • 25-36 months – 3% of principal outstanding + GST
  • >36 months – 2% of principal outstanding + GST
Penal Interest

2.00% p.a. on the amount on overdue installments

Repayment Instruction/Instrument Return Charges

Rs. 399/- per instance + applicable taxes

Q. Who can avail collateral free business loan?

A. Business loan can be availed by the following constitutions:

  • Individual firms, proprietorship firms, partnership firms, limited liability partnership firms, private limited companies, unlisted public companies, trusts and society (except charitable trusts).
Q. Do I have to visit a physical branch to apply for a business loan?

A. No. You can apply for a business loan online at in 2 easy steps and grow your business with ease.

  • Kindly register on the link with your mobile Number, PAN & Email ID
  • Click on Register and proceed to apply Business Loan Online
Q. How do I repay my unsecured business loan?

A. You pay the loan in equal monthly installments (EMIs). The loan will be paid through post-dated cheques. You can also pay through Electronic Clearing System (ECS) or a standing instruction.

Q. Can I repay the unsecured loan earlier?

A. Yes, you can choose to repay your loan any time after 6 months along with applicable foreclosure charges as per bank guidelines.

Q What is the interest rate for your loan facility?

A. We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.