Business Loans

Grow your business with timely funds.

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Business Loans from IDFC Bank

IDFC FIRST Bank’s Business Instalment Loan

Business Instalment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. It can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed monthly intervals.

This is a term loan with competitive rates to address all your business requirements. Our hassle-free process, simple documentation will help you to expand your business.

  • No security/collateral required
  • Low processing fee
  • Minimal paperwork
  • Comprehensive Insurance coverage of loan available
  • Door-step pick-up of documents

*Conditions apply


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IDFC FIRST Bank BIL for Professionals and Non-professionals

IDFC FIRST Bank BIL has three offerings basis:


Loan to Doctors:

  • Can be availed by MBBS, BDS & MDS professionals
  • Loan amount upto Rs 40 lacs can be availed
  • Loan tenure can extend upto 60 months
  • Competitive interest rates
  • Minimal paperwork
  • No security/collateral required

Loan to other professionals:

  • Can be availed by chartered accountant, company secretary and architect.
  • Loan amount up to Rs 25 lakh can be availed.
  • Loan tenure can extend up to 48 months*.
  • Competitive interest rates.
  • Minimal paperwork.
  • No security/collateral required.

Loan to non-individuals:

  • Can be availed by proprietors, partnership firms, private limited company and closely held limited companies as well as by manufacturers, traders and service providers.
  • Loan amount up to Rs 30 lakh can be availed.
  • Loan can be availed for up to 48 months*.
  • Competitive interest rates.
  • Minimal paperwork.
  • No security/collateral required.

*with additional conditions being met


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Access your loan account easily

With our IDFC FIRST Bank Mobile App, you can get updates, download documents, check next EMIs, balance amount and more, anytime anywhere. The app’s features are accessible even when you do not have any other banking relationship with us.


Stay connected: You can check your loan account number, sanctioned amount, disbursed amount, rate of interest, product name, disbursement date, EMI amount, etc.


Get real-time updates: Check amount paid till date, loan outstanding, next EMI date, balance tenure, etc.
Statements: Download repayment schedule, loan statement, statement for a chosen period, etc.

With our IDFC FIRST Bank Mobile App, you can get updates, download documents, check next EMIs, balance amount and more, anytime anywhere. The app’s features are accessible even when you do not have any other banking relationship with us.


Stay connected: You can check your loan account number, sanctioned amount, disbursed amount, rate of interest, product name, disbursement date, EMI amount, etc.


Get real-time updates: Check amount paid till date, loan outstanding, next EMI date, balance tenure, etc.
Statements: Download repayment schedule, loan statement, statement for a chosen period, etc.


Consolidation

Paying high rates of interest on your loans from other banks? Have too many EMIs to pay to different banks? We know keeping track of all your loans can be difficult. So we've created something that makes your life a little easier. Transfer your existing loans from other banks to IDFC First Bank and enjoy better interest rates while making payments in one place! Here's what happens when you transfer your other loans to IDFC First Bank:


  • With your new loan, any of your existing (unsecured) business loans can be consolidated into one IDFC First Bank loan account.
  • Pay a consolidated EMI to just one loan account.
  • Save on interest by getting a better rate when consolidating all your debts.

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Documentation

A copy of any of the following documents as identity proof:

  • Aadhaar Card
  • Passport
  • Voter's ID Card
  • PAN Card
  • Driving License
  • A copy of any of the following documents as identity proof:
    1. Aadhaar Card
    2. Passport
    3. Voter's ID Card
    4. PAN Card
    5. Driving License
  • A copy of any of the following documents as address proof:
    1. Aadhaar Card
    2. Passport
    3. Voter's ID Card
    4. Driving License
  • Bank statements of the previous 6 months
  • Latest ITR along with computation of income, balance sheet and profit and loss account for the previous 2 years, after being CA Certified/audited.
  • Proof of continuation (ITR/trade license/establishment/Sales Tax Certificate).
  • Other mandatory documents [sole prop. declaration, copy of partnership deed, copy of memorandum and articles of association (certified by director) and board resolution (original)].

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BUSINESS LOANS - FAQS

What is a Business Instalment loan?

Business Instalment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. It can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals, mostly monthly.

What type of entity can be funded under BIL?

  • Proprietors
  • Partnership firms
  • Pvt Ltd Co
  • Closely held limited co
  • Individuals

What is the loan amount that can be sanctioned?

Based on your kind of business, income and repayment capability, you can get a loan upto Rs 40 lacs.

For some of you high profilers, we are happy to look at your loan requirement that may go beyond Rs 40 lacs

What is the maximum tenure under BIL?

  • Doctor – 60 months
  • CA/CS/ Architect – 48 months *
  • Non- professionals – 48 months*
  • * with additional conditions met.

What is the minimum business vintage required under BIL?

The minimum business vintage required under BIL is 3 years.

Is there any security or guarantor required for availing Business Installment Loan?

No we don’t require any collateral or security guarantee.

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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

IDFC FIRST Bank Customers

Toll Free No - 1800 419 4332
Email - Banker@idfcfirstbank.com

Capital First Customers

Toll Free No - 1860 500 9900
Email - Customer.Care@Capitalfirst.Com

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