What's special about us
Enjoy Zero Charges on All Commonly Used Savings Account Services
- About Us
- MD & CEO letter about the bank
- MD & CEO
- Our History
- Letter to Shareholders on the 1st Annual Report after Merger
- Letter to Shareholders on the 2nd Annual Report after Merger
- Letter to Shareholders on the 3rd Annual Report after Merger
- Letter to Shareholders on the 4th Annual Report after Merger
- Board of Directors
- Awards & Accolades
- News Room
- Investors
- Careers
- ESG
-
As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
-
-
Business Loan Interest Rates
Businesses backed by reliable funding sources can achieve amazing things. Regardless of where you are in the life span of your business, IDFC FIRST Bank business loans make it convenient to finance business needs. Whether you are a start-up or a seasoned entrepreneur looking to scale your business, IDFC FIRST Bank business loans can help.Read More
We offer the industry's competitive business loan interest rates to make your financing affordable, so you can focus on achieving your business goals faster than your competition.
IDFC FIRST Bank business loans are designed to help you meet a variety of business requirements, including market expansion, equipment purchases, facility upgrades, and working capital requirements. With us, you can experience a convenient application process, personalised eligibility criteria, and preferential business loan interest rates.Read Less
Benefits of IDFC FIRST Bank Business Loans
Experience fast and seamless application and approval process with minimal documentation
Tailor-made loans designed to fit specific business needs
Get attractive and preferential business loan interest rates
Enjoy collateral-free funding up to ₹1 crore
Quick financing up to ₹50 lakhs based on your current account statement and GST returns
Choose from loan tenures up to 48 months that fit your financial needs
Quick and reliable customer service
Factors that Affect Business Loan Interest Rates
Business Loans Interest Rates Table
| Business Loan Interest Rates (Self-Employed) |
15.00% P.A onwards |
|---|---|
| Loan Amount |
Starting from ₹9 Lakhs up to ₹100 Lakhs |
| Lowest EMI per month | Starting from ₹2783* per Lakh for 48* Months |
| Loan Tenure | 12 Months – 48* Months |
Note: The actual interest rates at IDFC FIRST Bank are subject to the customer's risk profile. Refer to the table above to know the current starting rates.
Read more about Products and
Services
Download IDFC FIRST Bank App
How to Apply for Business Loans?
You can apply for an IDFC FIRST Bank business loan online or offline. Furnish your personal and contact details, and our representative will contact you to take the process forward. Here are the ways you can apply for a business loan:
- Online application
To apply for a business loan online, click the ‘Apply now’ button and enter your mobile number for verification in the form. Next, enter your contact details so one of our representatives can contact you.
- Offline application
For offline applications, locate the nearest IDFC FIRST Bank branch and visit the bank at your convenience with the required personal and business documents. Reach out to the business loan representative and fill out an application. Our representative will guide you through the application process.
FREQUENTLY ASKED QUESTIONS
What is the interest rate on a business loan?
IDFC FIRST bank offers affordable and competitive interest rates. However, the final interest rates may vary depending on various factors after loan approval.
How much is the business loan processing fee?
A processing fee is levied on business loan applications, which is adjusted against the overall loan cost. IDFC FIRST Bank levies a processing fee up to 3.5% of the principal loan amount.
What is the foreclosure charge for business loans?
5% of principal outstanding is going to be the foreclosure charge.
What are the minimum and maximum business loan tenures given?
IDFC FIRST Bank offers flexible loan tenures between 12 and 48 months to repay your business loans.
Is a business loan an unsecured loan?
Yes, business loans from IDFC FIRST Bank are collateral-free for amounts up to ₹1 crore.
Is the business loan interest rate fixed or floating?
The interest rates on business loans are fixed.
For what purposes can I avail of a business loan, and how is the interest rate determined?
Business loans are designed to meet the financial requirements of a business. The funds can be used for various purposes, such as operational expenses, business expansion, and purchase of instruments.
Business loan interest rates are calculated based on several factors, of which the principal loan amount and tenure play a major role.
What factors determine the business loan’s rate of interest?
Some of the key factors that determine the business loan interest rate, include:
- Revenue of the business
- Repayment record
- Business’ reputation
- Relationship with the bank
- Running business loans
- Cash flow and balance sheet details
